Pharmacogenetics is the study of how genes affect a person’s reaction to medicines. The combination of pharmacology (the science of drugs) and genomics (the study of genes and their functions) leads to the development of medications that will be effective and safe, as they will be tailored to a person’s genetic make-up. A small blood
Silvia Lolli from our Rome office has written an article about the implementation of the PRIIPs Regulation in Italy and the implications for life insurers and their existing transparency obligations with regard to customers. The article is in Italian and has been published on Diritto Bancurio. Click here to view the article.
The Order ECC/2316/2015, regarding the duty of information and classification of financial products, published in the Spanish Official Gazette on 5 November 2015, will come into force on 5 February 2016. This Order establishes a standardised information system and classification of financial products aimed at warning the clients about the risk level and complexity of
On 13 June 2014 the French Parliament has adopted the Eckert Law aiming at updating the current legislation on the fate of the unclaimed life insurance contracts to strengthen customers’ rights and impose additional constraints to insurers. The Eckert Law has been supplemented by a Decree (Decree n°2015-1092 of 28 August 2015) which defines the
The Office of the Commissioner of Insurance (“OCI“), the Hong Kong insurance regulator, issued a new guidance note (the “Guidance“) on underwriting life business (other than investment-linked assurance scheme (“ILAS“) business, which is covered by the earlier guidance note GN 15) on 30 July 2015. The Guidance has been under discussion with the industry for
At the end of March the FCA and PRA published their long-awaited responses to the FSA’s consultation (CP 12/38) in December 2012, on recognising mutual capital in mutual life insurers writing with-profits business in common funds. Please click here to see our client note on the subject.
On 15 April 2014, China’s insurance regulator, the China Insurance Regulatory Commission (the “CIRC“), issued Circular Regarding the Regulation of Online Insurance Business Operation of Life Insurance Companies (Draft for comments) (in Chinese: 关于规范人身保险公司经营互联网保险有关问题的通知（征求意见稿)）. If implemented, this circular will allow life insurance companies to sell accident, fixed-term life and whole life policies, through online channels,
Unit and Index linked policies are at the centre of a debate as to whether they should be classified as insurance contracts or financial products, respectively governed by different sets of rules. Linked policies concluded after 25 January 2007 – i.e. the entry into force of Legislative Decree no. 303 of 29 December 2006 –are
When informed of the death of the insured, the insurers are required by law to find the beneficiary, and if this research succeeds, to inform the latter of the stipulation made in his favour (article L. 132-8). Following the review of the market practice, the French banking and insurance supervisory authority (ACPR) has issued a