Intermediaries

Brexit Continuity Clauses: what policyholders need to know

We have assisted Airmic to produce a guide for policyholders on Continuity Clauses, which some in the insurance market are using to prepare for the impact of Brexit. The clauses aim to provide a level of contract continuity in the … Continue reading

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Filed under Intermediaries, Legal/Regulatory, Miscellaneous, Policyholders

COURT OF APPEAL DECISION IN ENRC: ORTHODOXY RESTORED ON LITIGATION PRIVILEGE, BUT NARROW INTERPRETATION OF “CLIENT” REMAINS FOR NOW

The Court of Appeal has handed down its eagerly awaited decision in the ENRC appeal: The Director of the Serious Fraud Office v Eurasian Natural Resources Corporation Ltd [2018] EWCA Civ 2006. At first instance, the High Court took a restrictive … Continue reading

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Filed under Case law, Insurers, Intermediaries, Policyholders

HIGH COURT RULES THAT BROKER WAS NOT IN BREACH OF DUTY IN FAILING TO PROVIDE ORAL ADVICE IN RELATION TO THE DUTY TO DISCLOSE

In holding that a broker was not in breach of duty by failing to give oral advice in relation to the disclosure of criminal convictions the Court has provided a useful reminder of the extent of a broker’s duty to … Continue reading

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Near-final rules for extension of SMCR to insurers and brokers published

Near-final rules for the extension of the Senior Managers & Certification Regime (SMCR) to all financial services firms, including insurers and insurance intermediaries, have been published today by the PRA and the FCA.  The FCA has also confirmed that the … Continue reading

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EIOPA issues second warning about the impact of Brexit on insurance contracts

EIOPA has published an opinion and FAQs emphasising the need for insurers and insurance intermediaries to explain to policyholders how Brexit will affect their insurance cover. At first sight, EIOPA’s comments appear to reinforce concerns that political compromise cannot be … Continue reading

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PRA AND FCA CLARIFY IMPACT OF BREXIT TRANSITION FOR INSURANCE SECTOR

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, insurers, insurance intermediaries and other financial services firms have … Continue reading

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INSURANCE AND REINSURANCE DISPUTES ANNUAL REVIEW 2017 PUBLISHED

We are pleased to share with you our Insurance and Reinsurance Disputes Annual Review of 2017, published today, which provides an overview and analysis of the key cases and developments affecting those engaged in or with contentious matters in the … Continue reading

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Filed under Case law, Insurers, Intermediaries, Policyholders

Delay to IDD start date/Guidance on UK approach to Brexit

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 1 October 2018.  It has agreed to requests for … Continue reading

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LEGISLATING FOR THE UK’S WITHDRAWAL FROM THE EU

The European Union (Withdrawal) Bill was published by the Government in July 2017 and is the key piece of UK domestic legislation that will implement Brexit. Repeal of the European Communities Act: The principal purpose of the Bill is to … Continue reading

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FCA CONSULTS ON EXTENDING THE SMCR TO INSURANCE INTERMEDIARIES

The FCA has published proposals to extend the Senior Managers and Certification Regime (SMCR), which already applies to banks, to other financial services firms.  The new rules, which are designed to make individuals more accountable for their actions, will affect … Continue reading

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Filed under Intermediaries, Legal/Regulatory