On Saturday 14 March, Spain’s Official State Gazette published Royal Decree 463/2020 declaring the state of alarm for the management of the health crisis situation caused by COVID-19 (RDEA). Under this Royal Decree, Spain has adopted a series of extraordinary
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Changes in insurance regulation: Mainland China / Hong Kong / Singapore / Indonesia / Vietnam
Our Asia insurance regulatory tracker for the third and fourth quarter of 2019 is attached.
The tracker covers a range of developments across the region, including China’s measures to further open up China’s insurance sector, the guidelines issued by…
Disclosure Pilot Round-Up: “The Three Cs – Cooperation, Confidentiality, and Control”
After a dearth of decisions in the early months of the Disclosure Pilot, judges have begun lining up to add to the growing body of commentary on best practice for litigants.
Our overview of PD 51U’s (no-longer-new) rules can be…
‘Open Insurance’: What does the future hold?
FCA’s Call for Input on Open Finance
Open Finance refers to the extension of open-banking-like data sharing and third-party access to a wider range of financial sectors and products, including in the insurance market.
The FCA highlighted in its recent…
Fever in the morning, Cover all through the night: Insurance and planning for the effect of Coronavirus on business
COVID-19 has already had a significant economic impact, which is likely to increase as Wuhan- and Italy-style lockdowns of large regions are implemented in other areas across the globe. While much has been said about large-scale flexible working, this will…
Webinar: Insurance Distribution: Regulatory priorities for 2020 – 11 March 2020
2020 looks set to be the “Year of the Insurance Customer” with regulators throughout Europe focusing on the customer experience.
Please join us at our forthcoming webinar as we consider the ways in which regulators across Europe have put the…
UK: Corporate Insurance Newsletter – February 2020
The Hogan Lovells’ Corporate Insurance Newsletter for February 2020 has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this issue, amongst other items, we cover:
- FCA’s paper
…
UK: Operational resilience: a new area of regulation you need to think about now
Several high profile systems failures resulting in customers being unable to access their finances and an ever-increasing reliance on outsourcing key activities to group entities or third parties have unsurprisingly caught the regulators’ attention.
The PRA and FCA are consulting…
The Spanish Insurance Distribution Act
The Spanish Insurance and Reinsurance Distribution Act implementing the Directive 2016/97 of the European Parliament and of the Council of 20 January 2016 on Insurance Distribution (the ”IDD”) has been finally approved and published in the Spanish Official Gazette (“…
UK: FCA Signposts Travellers with Pre-Existing Medical Conditions To Better Outcomes
Some consumers with pre-existing medical conditions (“PEMCs”) have problems navigating the travel insurance market and finding affordable cover given their medical conditions. Some are declined cover, only offered cover that excludes their PEMC or are offered what they consider to…