Brexit And The Re/Insurance Industry
This article examines some potential issues for UK re/insurers following the referendum vote for the UK to end its membership in the EU.
Read Moreby Ernesto Palomo | Jun 30, 2016 | Brexit, Industry Developments, Lloyd's, Regulatory, Reinsurance
This article examines some potential issues for UK re/insurers following the referendum vote for the UK to end its membership in the EU.
Read MoreNov 18, 2015 | Excess and Surplus Lines, Lloyd's, New York Developments, Regulatory
The Excess Line Association of New York (ELANY) has hired James Davis as financial director. Davis is responsible for the financial review and analysis of all eligible listed excess line insurers to verify their financial strength.
Read MoreMar 19, 2015 | Captives, Catastrophe Claims, Coverage & Claims, Excess and Surplus Lines, Industry Developments, Insurance Linked Securities (ILS), Life Insurance & Annuities, Lloyd's, Regulatory, Reinsurance, Solvency II
The global stock of insurance linked securities at the end of 2014 was approaching $25.2 billion. Yesterday George Osborne unleashed the giant peach for the United Kingdom in a seemingly measured statement but one full of promises.
Read MoreFeb 25, 2015 | Antitrust, Aviation and Aerospace, Industry Developments, Lloyd's, Regulatory, Reinsurance
Insurance companies face increased scrutiny from both government antitrust enforcers and the plaintiff antitrust class action bar. With many companies now undertaking a reassessment of their practices for compliance with antitrust laws, antitrust issues are arising with joint underwriting arrangements, such as pools and binding authorities, where a single underwriter prices and accepts risks on common terms for several insurers.
Read MoreApr 9, 2014 | Lloyd's, Regulatory
Underwriters at Lloyd’s of London (“Lloyd’s”) have engaged in discussions with the Turkish government to discuss Lloyd’s entry into Turkey.
Read MoreFeb 22, 2012 | Lloyd's | United Kingdom
In a market bulletin published on 14 February 2012, Lloyd’s announced a new Code of Practice and Guidance note in relation to the transfer of interests in Lloyd’s corporate members. Greater consideration is now being given to acquiring interests in corporate members as a means of acquiring underwriting capacity outside of the capacity auctions.
Read MoreOct 7, 2011 | Florida Developments, Lloyd's, Regulatory, Reinsurance | United Kingdom
On October 6, 2011, the Florida Office of Insurance Regulation (“FOIR”) announced that the FOIR entered into reduced collateral agreements with Lloyd’s of London to 20% pursuant to Section 690-144.007 of the Florida Administrative Code (the “Rule”).
Read MoreApr 4, 2011 | Lloyd's, Regulatory | United Kingdom
In a market bulletin released on 31 March 2011, Lloyd’s set out its revised Claims Management Principles and Minimum Standards (click here for a copy of the bulletin). The revision is part of Lloyd’s Claims Transformation Project in order to “facilitate and increase the competitive advantage from the efficient handling of claims on their merits“.
Read MoreJan 12, 2011 | Lloyd's, Regulatory | United Kingdom
On 20 December 2010 Lloyd’s issued a Market Bulletin setting out its 2011 charges, contributions, subscriptions and payment dates.
Read MoreDec 21, 2010 | Lloyd's, Regulatory | United Kingdom
On 6 December 2010, Lloyd’s published its strategy for 2011 with a strong emphasis on intensifying its regulatory function.
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