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Latest Insurance & Reinsurance News

Insurance brokers call for reduced regulatory burden

Law360, London: A trade body for insurance brokers has called for a regulatory overhaul to reduce the burden on the sector and bolster international competitiveness.

UK property insurance claims highest since 2007

Law360, London: Property insurance claims in the UK are expected to reach £5.5bn for 2024, the highest level since 2007 when insured flood losses reached £3bn, according to Deloitte Touche Tohmatsu Ltd.

Insurance Europe submits responses to EIOPA's Solvency II review consultations

Insurance Europe has responded to several consultations by the European Insurance and Occupational Pension’s Authority (EIOPA) as part of level 2 of the technical discussions for the Solvency II review.

BoE delivers speech on new stress test approach for banks and other parts of the financial sector

The Bank of England (BoE) has published a speech delivered at The City UK by its financial stability strategy and risk executive director, Nathanaël Benjamin, on its new approach to stress testing banks, and developments in stress tests of other parts of the financial sector. The new approach combines regular stress testing for cyclical risks with the flexibility to explore different risks. It consists of three key components: biennial Bank Capital Stress Tests involving bank submissions, less burdensome desk-based exercises in intervening years, and exploratory exercises for structural and emerging risks.

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What is the difference between an appeal and a review?

What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a

Financial clean break orders in family proceedings

Financial clean break orders in family proceedingsDuty of the court to consider a clean breakAlthough there is no presumption in favour of there being a financial clean break between parties on divorce, the court is under a duty to consider whether it would be appropriate to exercise its powers so

Early leavers—preservation

Early leavers—preservationFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and armed forces public service pension schemes).The Finance Act 2022 will also give

Brussels I (recast)—domicile (Arts 4 and 63) [Archived]

Brussels I (recast)—domicile (Arts 4 and 63) [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note considers the general rule set out in Article 4 of Regulation (EU) 1215/2012, Brussels I (recast) when determining the relevance of a defendant’s domicile to
What is the difference between an appeal and a review?

What is the difference between an appeal and a review?

What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a

Financial clean break orders in family proceedings

Financial clean break orders in family proceedings

Financial clean break orders in family proceedingsDuty of the court to consider a clean breakAlthough there is no presumption in favour of there being a financial clean break between parties on divorce, the court is under a duty to consider whether it would be appropriate to exercise its powers so

Early leavers—preservation

Early leavers—preservation

Early leavers—preservationFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and armed forces public service pension schemes).The Finance Act 2022 will also give

Brussels I (recast)—domicile (Arts 4 and 63) [Archived]

Brussels I (recast)—domicile (Arts 4 and 63) [Archived]

Brussels I (recast)—domicile (Arts 4 and 63) [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note considers the general rule set out in Article 4 of Regulation (EU) 1215/2012, Brussels I (recast) when determining the relevance of a defendant’s domicile to