Insurance

BREXIT UPDATE – EEA (RE)INSURERS

The post below was first published on our Insurance blog EEA insurers and reinsurers doing business in the UK under the insurance passport must prepare for the UK’s withdrawal from the EU. We consider, in our latest “At a Glance” guide, … Continue reading

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PRA AND FCA CLARIFY IMPACT OF BREXIT TRANSITION FOR INSURANCE SECTOR

The post below was first published on our Insurance blog Recent announcements made by the PRA and FCA clarify their approach to Brexit following the European Council’s agreement to a transition period for the UK’s withdrawal from the EU. In particular, … Continue reading

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Brexit – PRA consults on approach to UK branches of incoming insurers

The post below was first published on our Insurance blog On 20 December 2017, the Treasury, PRA and FCA clarified their approach to EEA-headquartered financial services firms wishing to carry on business in the UK post-Brexit. More recent evidence to the House of Commons … Continue reading

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Brexit – EIOPA publishes opinion on cross-border legacy business

This post was originally published on our Insurance notes blog. An opinion published by EIOPA on 21 December 2017 raises concerns for UK insurers who have policyholders in EEA states other than the UK. This will include, for example, every life … Continue reading

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Filed under Insurance, Uncategorized

DELAY TO IDD START DATE/GUIDANCE ON UK APPROACH TO BREXIT

The post below was first published on our Insurance blog Delay to IDD start date The EU Commission published draft legislation today (in the form of a proposed Directive and a proposed Delegated Regulation) to delay the IDD start date to … Continue reading

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Brexit and cross-border insurance contracts

The post below was first published on our Insurance blog On 14 September 2017, the UK Parliament published a letter from Nicky Morgan, Chair of the Treasury Committee, to Philip Hammond, Chancellor of the Exchequer, on insurers’ ability, post-Brexit, to service … Continue reading

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EIOPA opinion on supervisory convergence in light of the UK withdrawing from the EU

The post below was first published on our Insurance blog The European Insurance and Occupational Pensions Authority (EIOPA) has published an opinion on supervisory convergence in light of the UK withdrawing from the EU.

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EIOPA to publish guidance on sound principles for authorisation and supervision post-Brexit

The post below was first published on our Insurance blog EIOPA has published an interview given by Gabriel Bernardino, EIOPA Chair, which contains comments on the implications of Brexit for the insurance industry.

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MANAGING RISK: A DISPUTES PERSPECTIVE (2017)

The post below was first published on our FSR blog Herbert Smith Freehills recently held its annual disputes client conference exploring some key legal and compliance risks facing major corporates. Following opening remarks by Mark Shillito, head of dispute resolution for … Continue reading

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Filed under Competition, Disputes, Financial services, Insurance, TMT & data protection

Implications for the insurance sector

The House of Commons Treasury Select Committee (TSC) has launched an inquiry into EU regulation of insurance.  The inquiry will allow the TSC to look at the case for retaining, losing or adapting Solvency II in a post-Brexit world.  Its Chairman, Andrew … Continue reading

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Filed under Financial services, Insurance