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)
Category: Regulatory Updates
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
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
MFSA’s Supervisory Priorities for 2021
DECEMBER 17, 2020 Today, the Malta Financial Services Authority published its Supervisory Priorities for 2021. This detailed document provides updates on the areas of focus which had been identified for 2020 and sets out the priorities for the upcoming year. Five cross-sectoral priorities have been identified, namely: [i] Corporate Governance and Culture; [ii] Financial Crime Compliance;… Continue reading MFSA’s Supervisory Priorities for 2021
MFSA Document on ICT Risk & Cyber Supervision
JANUARY 28, 2021Share On 28 January 2021, the Malta Financial Services Authority issued the third volume of ‘The Nature and Art of Financial Supervision’ series, focusing on ICT Risk and Cybersecurity Supervision. This document provides background on ICT risk and cybersecurity, including the applicable legal and regulatory framework, and the work of the MFSA’s Supervisory… Continue reading MFSA Document on ICT Risk & Cyber Supervision
MFSA Warning – Hillwood Limited Insurance – Clone
FEBRUARY 12, 2021 The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware of an entity operating under the name of Hillwood Limited Insurance Co Ltd (“the entity”) which has an internet presence at https://www.hillwoodlimited.com/. This website is making unauthorised use of a similar name and reference to the registered office address of a Maltese registered… Continue reading MFSA Warning – Hillwood Limited Insurance – Clone
Captives: Navigating the Tax Maze
Introduction: Classroom Spiel and Market Realities On paper, captives purportedly take business away from the conventional market and write insurance across borders. In practice, demand for capacity in the conventional insurance market continues to grow unabated even with unprecedented growth in the number & type of captives and jurisdictions. Why? The reality is that most… Continue reading Captives: Navigating the Tax Maze