Technology continues to evolve, bringing new opportunities, social change and new expectations for consumers. That’s why insurance undertakings and intermediaries continue to develop and revise their business models, often in increased co-operation with third parties (e.g. BigTech companies and start-ups), bringing both beneficial innovation and a new set of emerging risks that have to be […]
THE FRENCH SUPERVISORY AUTHORITY STATES THAT COVID-19 IS NOT COVERED FOR MOST POLICYHOLDERS On 6 May, the Autorité de contrôle prudentiel et de résolution (ACPR) – the French Supervisory Authority – initiated a thematic survey on Business Interruption coverage due to the pandemic crisis and its consequences: “ACPR has decided to draw up an […]
CGPA Europe Italy is back in the (virtual) classroom for the training of the Association of Insurance and Reinsurance Brokers (Associazione Italiana Brokers di Assicurazioni e Riassicurazioni, AIBA) This training is part of a collaborative relationship that began in 2015 and has been consolidated over the years through numerous initiatives. The virtual classes were led […]
FCA’s Business Interruption Test Case: proceedings have been started in the High Court On 10 June the Financial Conduct Authority (FCA) updated the information on its webpage on the High Court test case in relation to business interruption (“BI”) insurance. The coronavirus pandemic has led to widespread disruption and business closures resulting in substantial financial […]
Carlos Montesinos, Managing Director of CGPA Europe Underwiting, CGPA Europe’s underwriting agency in Spain, comments on the recent implementation of the IDD into the Spanish legal system, highlighting issues both applauded by some and criticised by others.
The FCA announced last month that it intends to seek legal clarity on business interruption insurance to assist businesses which are facing uncertainty about their claims. It aims to seek a court declaration on an “agreed and urgent basis” to get an independent view on disputed BI insurance policies.
In France and Germany, two first court decisions on Business Interruption insurance and Covid-19 are shaking up the insurance industry
Patrick Cauwert, Feprabel – traces the most significant points of the transposition of the Insurance Distribution Directive and its impact on insurance intermediaries in Belgium
COVID-19 (Coronavirus): what impacts on insurance intermediaries in Europe?
PROFESSIONAL INDEMNITY INSURANCE LEVELS ARE CHANGING – EFFECTIVE ON 12 JUNE 2020 On 22 November 2019, the Commission Delegated Regulation (EU) 2019/1935 amending the IDD with regard to regulatory technical standards (“RTS”) adapting the base euro amounts for professional indemnity insurance (“PII”) and for financial capacity of insurance and reinsurance intermediaries was published in […]