International

Overview Content for select subtopic is not present

Latest Insurance & Reinsurance News

Marine insurers cut premiums despite claims inflation

Law360, London: The marine insurance market could face losses if premiums continue to soften in the face of mounting claims inflation, a broker warned.

United Insurance Brokers Limited charged with failure to prevent bribery

United Insurance Brokers Limited (UIBL), a UK insurance company, has been charged with failure to prevent bribery in a prosecution brought by the Serious Fraud Office (SFO). The SFO alleges that UIBL's US-based intermediaries paid bribes to secure re-insurance contracts in Ecuador worth US$38m. If the case proceeds to trial, it will be the first SFO 'failure to prevent bribery' case to be heard by a jury. UIBL's representatives are scheduled to appear at Westminster Magistrates' Court on 7 May 2025.

Insurance & Reinsurance weekly highlights—17 April 2025

This week's edition of Insurance & Reinsurance weekly highlights includes: the case of WTGIL Ltd v Revenue and Customs Commissioners; Gallagher being liable for data breach insurance cover failure; the publication of a report by the European Insurance and Occupational Pensions Authority (EIOPA) on the costs and past performance of retail investment products in insurance and pensions from 2020–2023; the publication of an application paper by the International Association of Insurance Supervisors (IAIS) on the supervision of climate-related risks in insurance sector; cases and decisions; key dates for your diary and other news highlights reported over the past week.

IAIS publishes application paper on supervision of climate-related risks in insurance sector

The International Association of Insurance Supervisors (IAIS) has published an application paper on the supervision of climate-related risks in the insurance sector. This paper provides guidance on how the IAIS's existing insurance core principles (ICPs) can be applied to address climate-related risks. It aims to help supervisors integrate these risks into their practices, thereby strengthening the resilience of the global insurance sector. The paper covers various areas, including the role of supervisors, integration into supervisory frameworks, impact on valuation and investment practices, and the use of scenario analysis. The IAIS is set to host a webinar on 28 April 2025 to discuss the paper.

View Insurance & Reinsurance by content type :

News

Practice notes

Precedents

Q&As

Popular documents

Micklefield clauses

Micklefield clausesWhat is a Micklefield clause?It is common for employee share plans to provide that, on termination of employment (or when an employee is given or receives notice of termination of employment), subsisting share awards will be forfeited and subsisting share options will lapse.It is

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

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

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid