http://www.out-law.com/en/ Latest legal news on insurance from OUT-LAW.COM, part of international law firm Pinsent Masons en-gb Pinsent Masons LLP Tue, 22 May 2012 13:52:40 +0100 http://www.out-law.com/en/articles/2012/may/fsa-identifies-weaknesses-in-insurers-internal-solvency-ii-models-ahead-of-delayed-implementation/ http://www.out-law.com/en/articles/2012/may/fsa-identifies-weaknesses-in-insurers-internal-solvency-ii-models-ahead-of-delayed-implementation/ Insurance Insurance regulator the Financial Services Authority (FSA) has identified some "common weaknesses" amongst firms looking to develop their own systems for compliance with delayed new European standards. Thu, 17 May 2012 09:23:00 +0100 http://www.out-law.com/en/articles/2012/may/committee-of-meps-call-on-tougher-rules-on-financial-products-advertising/ http://www.out-law.com/en/articles/2012/may/committee-of-meps-call-on-tougher-rules-on-financial-products-advertising/ Insurance Advertisers should be required to explain in more detail the risks and benefits of "sophisticated financial products" because the public is generally "vulnerable" when making choices in this market, a European Parliamentary committee has said. Mon, 14 May 2012 15:52:00 +0100 http://www.out-law.com/en/articles/2012/may/the-majority-of-european-insurers-are-not-prepared-for-solvency-ii-according-to-new-survey/ http://www.out-law.com/en/articles/2012/may/the-majority-of-european-insurers-are-not-prepared-for-solvency-ii-according-to-new-survey/ Insurance As many as 84% of insurance firms are yet to implement a framework to deliver the necessary reports to regulators when new EU-wide solvency standards for the industry come into force, according to a new survey. Mon, 14 May 2012 14:00:00 +0100 http://www.out-law.com/en/articles/2012/may/further-delays-to-new-solvency-standards-leave-little-room-for-manoeuvre-insurers-warn/ http://www.out-law.com/en/articles/2012/may/further-delays-to-new-solvency-standards-leave-little-room-for-manoeuvre-insurers-warn/ Insurance Further delays to the implementation of new solvency standards for European insurers will leave the industry with "very little room for manoeuvre", a spokesman has warned. Tue, 01 May 2012 11:44:00 +0100 http://www.out-law.com/en/articles/2012/april/regulator-confirms-forthcoming-significant-restrictions-on-non-mainstream-investment-promotion/ http://www.out-law.com/en/articles/2012/april/regulator-confirms-forthcoming-significant-restrictions-on-non-mainstream-investment-promotion/ Insurance The UK's financial services watchdog will shortly consult on new rules imposing "significant restrictions" on the ability of investment companies to promote complex non-mainstream investment products. Mon, 30 Apr 2012 15:32:00 +0100 http://www.out-law.com/en/articles/2012/april/banks-pledge-to-make-ppi-claims-easier-for-consumers/ http://www.out-law.com/en/articles/2012/april/banks-pledge-to-make-ppi-claims-easier-for-consumers/ Insurance Banks and regulators have promised to make it easier for customers to bring their own claims for mis-sold payment protection insurance (PPI) without using claims management companies (CMCs). Wed, 25 Apr 2012 09:59:00 +0100 http://www.out-law.com/en/articles/2012/april/insurers-not-adequately-preparing-for-new-european-regulatory-regime-fsa-head-warns/ http://www.out-law.com/en/articles/2012/april/insurers-not-adequately-preparing-for-new-european-regulatory-regime-fsa-head-warns/ Insurance Insurers are falling behind in their implementation of new risk management and solvency processes that are due to come into force for European insurers from the start of next year, the UK's financial regulator has warned. Fri, 20 Apr 2012 15:40:00 +0100 http://www.out-law.com/en/articles/2012/april/nuclear-providers-to-be-liable-for-up-to-12bn-damage-government-confirms/ http://www.out-law.com/en/articles/2012/april/nuclear-providers-to-be-liable-for-up-to-12bn-damage-government-confirms/ Insurance Nuclear operators are to be liable for damages amounting up to seven times the current limit in the event of a nuclear incident, the Government has confirmed. Tue, 03 Apr 2012 10:04:00 +0100 http://www.out-law.com/en/articles/2012/april/insurers-liable-when-workers-exposed-to-asbestos-not-when-symptoms-developed-court-rules/ http://www.out-law.com/en/articles/2012/april/insurers-liable-when-workers-exposed-to-asbestos-not-when-symptoms-developed-court-rules/ Insurance Insurers' liability for mesothelioma claims under employers' liability (EL) policies is triggered when the employee is negligently exposed to asbestos fibres, not when the disease develops, the Supreme Court has confirmed. Mon, 02 Apr 2012 10:55:00 +0100 http://www.out-law.com/en/articles/2012/march1/solvency-ii-style-pension-regulation-could-double-deficits-industry-warns/ http://www.out-law.com/en/articles/2012/march1/solvency-ii-style-pension-regulation-could-double-deficits-industry-warns/ Insurance Three quarters of large defined benefit pension schemes believe that the introduction of tougher funding requirements based on new solvency standards for European insurers could increase liabilities by as much as 50%. Tue, 27 Mar 2012 10:14:00 +0100