A new global platform to drive greater societal resilience to the world’s biggest risks Source: https://www.lloyds.com/about-lloyds/media-centre/press-releases/lloyds-launches-futureset The global platform has been developed in response to the large and complex challenges and impacts arising from the COVID-19 pandemic and the urgent need to begin a new, connected conversation with customers, insurers, and government to tackle the… Continue reading Lloyd’s launches ‘Futureset’
Category: News and Think Pieces
Mixed bag of reaction on motor insurance law swerve
Source: https://www.insurancebusinessmag.com/uk/news/auto-motor/mixed-bag-of-reaction-on-motor-insurance-law-swerve-247242.aspx As reported on February 22 by Insurance Business, the UK no longer has – and does not intend – to implement the Vnuk motor insurance rule of the European Union, following the country’s split from the bloc. Not surprisingly, both the Association of British Insurers (ABI) and the British Insurance Brokers’ Association (BIBA) have… Continue reading Mixed bag of reaction on motor insurance law swerve
Doing Business in Malta
Source: FinanceMalta https://financemalta.org/app/uploads/2019/10/FM-2018-sector-Insurance-compressed.pdf https://financemalta.org/finance-sectors/insurance-reinsurance/ Dynamic Growth | Solid Regulatory Framework | EU Membership Companies licensed in Malta can write business in any other member state, and the country has already attracted several Fortune 100 companies to set up insurance companies in Malta, among them multinationals such as BMW, Peugeot, Citroen, Nissan, Munich Re, and Vodafone.… Continue reading Doing Business in Malta
Interactive map of national financial education websites
EIOPA, February, 2021 https://www.eiopa.europa.eu/content/interactive-map-of-national-financial-education-websites The European Insurance and Occupational Pensions Authority (EIOPA) launched today an interactive European map of national financial education websites. The map is targeted to consumers who will have the opportunity to explore information about financial education in an interactive way. The websites typically include practical information about insurance and pensions products,… Continue reading Interactive map of national financial education websites
Risk Dashboard (EIOPA)
European insurers’ macro risk exposures decreased, while concerns remain (Feb, 2021) https://www.eiopa.europa.eu/content/risk-dashboard-european-insurers-macro-risk-exposures-decreased The European Insurance and Occupational Pensions Authority (EIOPA) published today its Risk Dashboard based on the third quarter of 2020 Solvency II data. The results show that insurers’ exposures to macro risks decreased from very high to high level, while all other risk… Continue reading Risk Dashboard (EIOPA)
Improving insurability of business interruption risk vs. pandemics
EIOPA Measures | News Piece: 12th February 2021 https://www.eiopa.europa.eu/content/eiopa-addresses-measures-improve-insurability-of-business-interruption-risk-light-of The European Insurance and Occupational Pensions Authority (EIOPA) published today its staff paper on measures to improve the insurability of business interruption in light of pandemics. Building on the Issues paper on shared resilience solutions for pandemics published in July, EIOPA analyses options relating to prevention measures to… Continue reading Improving insurability of business interruption risk vs. pandemics
IoM launches digital marketing campaign for its captives sector
Source: Captive International https://www.captiveinternational.com/news/iom-launches-digital-marketing-campaign-for-its-captives-sector-3956 Finance Isle of Man, the agency dedicated to developing the island’s financial services sector, has launched a digital marketing campaign to promote its captive insurance offering. The campaign highlights the benefits of establishing a captive on the Isle of Man (IoM), emphasising its regulatory and legal infrastructure, which has specifically designed governance… Continue reading IoM launches digital marketing campaign for its captives sector
A.M. Best examines EIOPA’s Solvency II Review Advice
Source: Captive Insurance Times https://www.captiveinsurancetimes.com/captiveinsurancenews/industryarticle.php?article_id=7343&navigationaction=latestnews&page=1&newssection=industry If the European Insurance and Occupational Pensions Authority’s (EIOPA) response to the Solvency II review is implemented, A.M. Best says it would expect to see increases to best-estimate liabilities (as measured under Solvency II), mostly offset by decreases in the risk margin and the effect of a larger volatility adjustment… Continue reading A.M. Best examines EIOPA’s Solvency II Review Advice
How Brexit could affect you
https://www.fca.org.uk/consumers/how-brexit-could-affect-you Latest Update: 25th January 2021 If you’re a consumer or small business and you’re concerned about how Brexit may have affected your financial products and services, read our information on living, travelling and making payments in the UK and Europe. The UK has left the European Union (EU), with the transition period ending on… Continue reading How Brexit could affect you
Business interruption insurance
https://www.fca.org.uk/firms/business-interruption-insurance Last Update: 15th February 2021 Find out about how we have been obtaining legal clarity on business interruption (BI) insurance during the coronavirus (Covid-19) crisis. We’ll update this page with information on what we’ve done and are doing The coronavirus pandemic has led to widespread disruption and business closures resulting in substantial financial loss. Many customers… Continue reading Business interruption insurance