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EAPD’s Mark Meyer and Brian Green are attending the Aviation Insurance Association’s Annual Conference in Vancouver, Canada.  The conference is well-attended and informative.  There were several interesting CIE sessions on Sunday, including a discussion of the criminalization of aviation accidents.  Our speaker explained that the trend is that in Europe and Latin America, investigations into accidents also often included criminal investigations, and sometimes indictments, of the pilots, flight controllers and others who were claimed to be involved in the accident. …
Read More Aviation Insurance Association Annual Conference – Update

According to an estimate provided by Lloyd’s of London, over £6.2 billion worth of insurance coverage has been purchased by individuals and entities in connection with the 2010 FIFA World Cup, which begins today.  Over half of that amount is for coverage for stadiums and training facilities, which reflects the vast amount of money that has been spent constructing and upgrading stadiums ($5.5 billion, according to the New York Times). …
Read More World Cup Insurance Estimated at Over 6 Billion Pounds

We have reported previously on the UK Financial Services Authority (FSA)’s short selling disclosure rules, most recently as consultation on its implementation of the UK’s Financial Services Act 2010 (click here to read our post). In that consultation, the FSA noted that the Committee of European Securities Regulators (CESR) was consulting on a Pan-European regime. …
Read More Europe: Committee of European Securities Regulators Publishes Model Short Selling Disclosure Regime

On 12 April 2010, the IAIS published a guidance paper on the “treatment of non-regulated entities in group-wide supervision” (the Guidance), which is available here. 

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Read More International Association of Insurance Supervisors (IAIS) publishes guidance paper on insurance groups

Eithne McCarthy, from the Financial Services Unit of the European Commission’s Competition Directorate General (DG Comp), made a presentation on the new Insurance Block Exemption Regulation (BER) to the Law Society’s Competition Section on 13 April 2010. …
Read More EU/UK: Presentation by Eithne McCarthy – the new Insurance Block Exemption Regulation

As the Eyjafjallajökull volcano continues to erupt and the dust cloud over much of Europe continues to hang in the air, approximately 16,000 flights each day are being canceled without any certainty as to when normal flight schedules can resume. 

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Read More Eyjafjallajökull Volcano’s Flight Disruption Leads to Uncovered Losses and New Types of Coverage for Airlines

The European Company Statute (Regulation 2157/2001, which is directly applicable in EU member states) was adopted on 8 October 2001 and came into force on 8 October 2004. It required the Commission to report on its application five years after coming into force. The Commission published its consultation on 23 March 2010, together with a report by external consultants. …
Read More EU: European Commission Publishes a Review of the European Company Statute