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London's "long-term competitiveness" as a global hub for insurance business remains under pressure, particularly from emerging markets such as Asia and Latin America, according to a new report. 10 May 2017
LEGAL UPDATE: Firms will need to be aware of changes to the FCA Handbook claims handling provisions to bring them in line with the Insurance Act 2015 (the Act). 10 May 2017
Part VII of the 2000 Financial Services and Markets Act (FSMA) sets out the statutory mechanism allowing insurers and reinsurers to transfer portfolios of insurance business from one entity to another, subject to court approval.
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.
This guide is based on UK law. It was last updated on 1st April 2008.
ANALYSIS: Smart contracts and the use of blockchain can offer real benefits to the insurance industry including simplified, automated processes, increased standardisation and automatic, electronic execution. 04 May 2017
Plans to develop a new regulatory and tax framework for insurance linked securities (ILS) in the UK have been delayed until a new government is formed in June, according to reports. 25 Apr 2017
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