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Creating a new regulatory and tax framework for UK insurance linked securities (ILS) businesses will help to "maintain London's position as the most important global hub for reinsurance" post-Brexit, the government has said. 29 Nov 2016
FOCUS: Although detailed rules are not yet known, the introduction of a Gulf-wide system of value added tax (VAT) is likely to have a significant impact on financial services businesses - particularly insurance-related businesses. 22 Nov 2016
The EU's Solvency II Directive came into force on 1 January 2016. The directive consolidates and harmonises existing EU insurance directives including life and non-life directives, the reinsurance directive and various others.
The Insurance Distribution Directive makes it easier for firms to trade cross-border, create a level playing field among all participants and strengthen policyholder protection.
The 2015 Insurance Act (2015 Act) applies to all commercial contracts of insurance, and variations to existing contracts of insurance, from 12 August 2016 and introduces what the UK government has described as “the biggest reform to insurance contract...
New rules will apply when insurers outsource "critical or important operation functions or activities" once the Solvency II regulatory regime comes into force on 1 January 2016. This short guide will provide a brief overview of the requirements, as well as...
Anti-competitive agreements are prohibited by European and domestic competition law. This means any anti-competitive provisions in commercial agreements are void and unenforceable which could lead to the entire agreement being unenforceable.
Those producing or selling packaged retail investment and insurance-based investment products (PRIIPs) will have to provide key information documents (KIDs) from the end of 2016.
UK insurers are targeting China and India as priority destinations in which to do business following the UK's exit from the European Union, according to a new report. 22 Nov 2016
Major UK insurance providers may not be fully accounting for 'silent' cyber risk when assessing potential liabilities from insurance cover they provide, the UK Prudential Regulation Authority (PRA) has said. 17 Nov 2016
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