This month's roundup of developments affecting the insurance industry sees ECON calling on the European Commission to postpone the application date of the IDD, EIOPA issuing final guidelines on complex insurance-based investment products under the IDD and the European Commission releasing a report on consumers' decision-making process in insurance services.


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General Update

  • European Commission releases report on consumers' decision-making in insurance services
  • EIOPA Risk Dashboard - Second Quarter 2017
  • IAIS tables showing status of ICPs and ComFrame development
  • FCA reports on implementation of insurance renewal transparency rules
  • IADI Discussion Paper: Sharia governance for Islamic deposit insurance systems
  • IADI consultation paper on resolution issues for financial co-operatives
  • European Commission request to ESAs to report on cost and past performance of main categories of retail investment, insurance and pension products
  • HM Treasury publishes draft regulations implementing new framework for insurance linked securities
  • EIOPA speech highlighting future challenges and opportunities
  • Insurance Europe and EFAMA revise templates for PRIIPs information exchange
  • Insurance Europe template for data breach notifications under GDPR
  • FOS feedback statement to consultation on amending voluntary jurisdiction rules to reflect FCA final rules and guidance on PPI complaints

Insurance Distribution Directive

  • European Parliament decides not to object to IDD Delegated Regulations
  • ECON calls on European Commission to postpone application date of IDD to 1 October 2018
  • EIOPA final guidelines on complex insurance-based investment products under IDD
  • SRA consults on implementing the IDD

Solvency II

  • PRA consults on Solvency II matching adjustment
  • Report on key themes from PRA roundtables on solvency and financial condition reports under Solvency II
  • PRA policy statement on half-yearly reporting of market risk sensitivities for Solvency II firms
  • Corrigendum to Delegated Regulation amending Solvency II Delegated Regulation published

Brexit

  • Chancellor response to Treasury Committee letter on impact of Brexit on insurance contracts

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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Robert Garwood

Robert Garwood

Managing Associate, London
United Kingdom

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