General matters relating to insurance regulation

This Overview is a guide to the Financial Services content within the General matters relating to insurance regulation subtopic, with links to the appropriate materials. The subtopic deals with a range of matters that are relevant to the regulation and supervision of insurers and insurance intermediaries. It seeks to describe a contract of insurance and sets out some general principles of insurance. The prudential and conduct requirements that affect insurers are principally dealt with in separate subtopics.

General principles of insurance contract law

Practice Note: What is a contract of insurance? covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to an insurance contract without the requisite regulatory permissions.

There are many different types of insurance, and the common law does not require a contract of insurance to be in any particular form. For more information about the general principles of insurance contract law, see Practice Note: General principles of insurance contract law. This Practice Note explains various principles concerned with insurance. It discusses

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Latest Financial Services News

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BoE welcomes API Panel of Expert recommendations to enhance cross-border payments

The Bank of England (BoE) has welcomed recommendations by the API Panel of Experts (APEX) for the development of payment APIs. The recommendations were published in the October 2024 report to the G20 by the Bank for International Settlements’ Committee on Payments and Market Infrastructures (CPMI): ‘Promoting the harmonisation of application programming interfaces to enhance cross-border payments: recommendations and toolkit’. The BoE views the recommendations and their associated action items as a timely and practical push for increased harmonisation of APIs in cross-border payments which is in line with the objectives of the G20’s cross-border payments programme.

PRA corrects error in Solvency II standard formula mass lapse life underwriting risk rule

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FCA publishes Handbook Notice 125

The Financial Conduct Authority (FCA) has published Handbook Notice 125 which describes the changes made to the FCA Handbook and other materials by the FCA Board and its Executive Regulation and Policy Committee under their legislative and statutory powers on 9 December 2024, 13 December 2024 and 19 December 2024. The changes effected through several instruments take effect on various dates commencing on 20 December 2024.

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