Latest Legal & Regulation News
Going out on a high note with a jam-packed anniversary issue.
Ink barely dry before BAFIN blocks UK-based brokers and insurers.
£10bn Government-backed facility to run until end-June.
Commission voices concern around competition in commercial, reinsurance services.
European authority adds that supervisors most monitor insurer solvency.
Carriers say opportunity is being squandered for truly meaningful improvements.
Solvency II regulations in for some adjustments, says BoE’s Saporta.
Other Australian insurers on the hook for COVID-related claims.
Insurers will have to "comply or explain” publicly.
Working remotely has changed employment practices permanently – presenting big challenges to insurers’ HR departments, says Tom Welchman, a Partner at McKinsey.
Interview: The National Flood Insurance Program (NFIP) is unsustainable, says Swiss Re’s Americas CEO Eric Smith. He and others are now suggesting that the private sector needs to take up some of the burden to ensure flood protection remains in the US.
Interview: Swiss Re’s Canada CEO believes consolidation among Canadian insurers will boost reinsurance demand as well as kick-start cat bonds. Insurers are also looking for reinsurance as a result of onerous new solvency requirements for BC earthquake.
Interview: Albert Benchimol has had a busy year since taking over as CEO of Bermudian insurer and reinsurer Axis Capital, dealing with the ousting of its chairman and Superstorm Sandy losses. He is now confident that a strong period of growth is ahead for his firm.
We ask Carlos Montalvo Rebuelta, the European Insurance and Occupational Pensions Authority's executive director, for more details on interim guidelines for Solvency II and his response to criticism from insurers and reinsurers over the directive's delay.
Interview: The National Association of Insurance Commissioners recognises that the clunky US regulation system could be improved but is not taking Europe as its model, say its CEO Terri Vaughan and president Kevin McCarty.
IRB-Brasil Re has had a tough time adjusting to no longer holding a monopoly of the Brazilian reinsurance market. Its plan to cope with losing market share in its own country is to aggressively target growth in other markets, its chairman tells Reactions.
Frank O’Halloran has a tough return target for Australian insurance and reinsurance group QBE and he is not budging, despite stagnant pricing, falling investment returns and first-half catastrophes.
Eric Dinallo, state insurance superintendent of New York, last year found himself at the centre of AIG's fight for survival as well as the bond insurance debacle. For his next trick he plans to revive the New York insurance exchange.
In this month's final issue of Reactions: