This month's roundup of developments affecting the insurance industry sees the FCA publishing further data from its general insurance value measures pilot.

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General Update 

  • FCA's general insurance value measures data – year ending 31 August 2017
  • Resolution on bilateral agreement on insurance and reinsurance prudential measures adopted by European Parliament
  • Position paper makes suggestions to reform EIOPA governing structure
  • IE feedback raises concerns about EIOPA reporting and disclosure ITS
  • LMA consumer wordings guidance v4.0
  • LMA guidance on GDPR information notice
  • IAIS consultation on draft application paper on use of digital technology in inclusive insurance
  • EIOPA decision on annual market and credit risk modelling comparative study
  • Insurance Europe responds to IAIS consultation on revisions to ICP 15 and 16 
  • Proposed trade framework could see insurers expand operations to new countries
  • PRA policy statement on SIMR optimisations
  • EIOPA paper on systemic risk and macro prudential policy in insurance sector
  • PRA publishes letter on general insurance actuarial function reports
  • HM Treasury statement about extension of SM&CR to insurer

Insurance Distribution Directive

  • LMA guidance for UK coverholders on IDD
  • IFCA responses to AFM questions on impact of IDD
  • EIOPA consults on draft RTS adapting base euro amounts for PII and financial capacity of intermediaries under IDD
  • IDD delay

Solvency II

  • BoE speech on looking out for the policyholder and Solvency II reform
  • PRA final response to Treasury Committee report on Solvency II
  • Implementing Regulation on technical information for calculation of technical provisions and basic own funds for Q1 2018 reporting under Solvency II

Key Contacts

Richard Wise

Richard Wise

Partner, Head of Insurance Disputes
London, UK

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Robert Garwood

Robert Garwood

Partner, Commercial Services

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