The pace of change to the global financial sanctions landscape picked up dramatically during the course of 2018. Global (re)insurers, brokers and policyholders now face an increasingly complex lattice of measures imposed by the UN, U.S., EU, UK and other countries. These measures often have different scope, jurisdictional reach and can directly conflict with one
Yesterday saw the FCA hold its first General Insurance Sector Conference. Amongst the keynote speakers were Martin Wheatley (CEO) and Clive Adamson (Director of Supervision) who gave an overview of the FCA’s current activities in the GI sector and an indication of further areas of focus over the coming year.
As a consequence of a recent amendment to the German insurance regulatory law, which entered into effect on 2 January 2014, infringements of certain compliance provisions applicable to insurance companies in Germany can constitute a criminal offence. According to German insurance regulatory law an insurance company must provide a proper business organization in order to