This month's roundup of developments affecting the insurance industry sees the final provisions of the CMA’s Order on Private Motor Insurance come into effect, the FCA publish its policy statement on the renewal process in general insurance markets and the FCA provide a long-overdue update on CASS 5.


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Brexit

  • Brexit concerns from BIBA

Read the summaries in full here

General update

  • Financial Ombudsman Service news - Issue 134
  • ABI commemorates Great Fire of London
  • ABI on insurance for university students
  • ABI reports quarterly fall in household insurance premiums
  • ABI reports quarterly rise in motor insurance premium
  • EIOPA signs IAIS MMoU
  • IAIS paper on cyber risk in insurance sector
  • G20 meeting of finance ministers and central bank governors

Read the summaries in full here

Data Protection

  • EU data protection watchdog will not challenge EU-US Privacy Shield (yet)
  • ICO releases comments on EU-US Privacy Shield
  • EU Commission on E-Privacy Directive consultation

Read the summaries in full here

New legislation & consultations

  • Insurance Act 2015 comes into force
  • EIOPA consultation on proposed IPID under IDD
  • CMA Order on Private Motor Insurance comes into effect
  • FCA policy statement on financial crime policy reporting
  • Insurance Europe response on proposed EU services passport
  • IAIS update on G-SII assessment methodology
  • Responses to IAIS consultation on NTNI activities and products

Read the summaries in full here

Regulatory developments

  • FCA update on review of CASS 5 for insurance intermediaries
  • FCA policy statement on renewal process
  • FCA "Dear CEO" letters on ARs
  • PRA supervisory statement on capital extractions by run-off firms

Read the summaries in full here

Solvency II

  • PRA Solvency II policy statement on remuneration requirements
  • EC Implementing Regulation on information for calculation of technical provisions and basic own funds
  • EIOPA publishes compulsory Solvency II information on equity capital charges
  • New EIOPA Q&As

Read the summaries in full here

Fraud

  • Supreme Court decisions on fraud
  • Suspended jail term for "ghost broker"
  • Former broker jailed over conspiracy to defraud Willis

Read the summaries in full here

Key contacts

Brian McDonnell

Brian McDonnell

Partner, Financial Regulation
London

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Richard Wise

Richard Wise

Partner, Head of Insurance Disputes
London

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