European Union (EU)
Moody's launches Solvency II compliance tool
Risk measurement and management firm Moody's Analytics has added a Solvency II compliance tool to its enterprise risk solutions suite.
LMA issues Eurozone exit advice
The Lloyd's Market Association and law firm Clyde & Co have issued guidance on the impact on insurance and reinsurance contracts of a Eurozone exit for managing agents.
Iran defiant over insurance sanctions
Iran's vice president Mohammad Reza Rahimi has dismissed EU and US sanctions as futile, saying that Tehran has turned the threats into opportunities for the country's insurance sector.
Insurance Europe president calls for vital Solvency II solutions
The European insurance industry supports the goals of the forthcoming Solvency II regulatory regime but vital issues still need to be resolved, Insurance Europe’s president, Sergio Balbinot, told the Eiopa conference in Frankfurt today.
Solvency II saga: Time for a rethink
The EU should adopt a more principles-based approach in order to move forward with Solvency II, says Simon Kirby.
Solvency II uncertainty challenging EU credibility, says Bernardino
Gabriel Bernardino today called on EU politicians to give a "strong commitment" towards the implementation of Solvency II, in order to prompt a clear and credible timetable for delivering the regime.
ING wins deadline reprieve for insurance divestments
Dutch Financial services group ING has won an extension to the period in which it must divest its insurance operation, after reaching an agreement with the European Commission and the Dutch state.
EC urged to limit bank bail-in mechanism
Insurance Europe has called on the European Commission to limit the potential use of the proposed 'bail-in' mechanism, under which authorities could write down the claims of unsecured creditors of a failing credit institution.
One in four Brits unaware of incoming gender rules
A study by the AA and Populus found that more than a quarter of British drivers are unaware that premiums will soon be affected by EU gender rules.
EU consults on the harmonisation of limitation periods
As the European Commission seeks to consult on the impact of Rome II, Kelvin Farmaner and Paul Lavelle explain the options for further harmonisation of limitation periods.
Broker Focus: Insurance Mediation Directive - A level playing field?
The European Commission's revision of the Insurance Mediation Directive is targeting mandatory commission disclosure, but what will this mean for UK brokers?
LMA seeks clarity over impact of sanctions on marine fuel oil
The Lloyd's Market Association has sought reassurances from the UK government after concerns that insurers could fall foul of EU sanctions by insuring vessels that have inadvertently taken on Iranian oil as fuel.
Cameron McKenna backs FSA Solvency II timetable change
City law firm Cameron McKenna has commended the Financial Services Authority for adapting its implementation timeline for Solvency II.
Western sanctions threaten to halt Iran's shipping industry
Western sanctions are jeopardising Iran's vital shipping industry, and the country's biggest cargo carrier will face serious problems if the pressure continues, according to the head of the Islamic Republic of Iran Shipping Lines.
EU extends Iran sanctions to natural gas
The European Union has bolstered sanctions against Iran, including banning the importing of natural gas from the country owing to a "lack of progress in nuclear talks".
RK Harrison unveils professional indemnity cover for art sector
R K Harrison Insurance Services has developed a professional indemnity insurance policy for art market professionals.
Bernardino blasts "stagnation" in Solvency II talks
Gabriel Bernardino has condemned the "stagnation" in political talks to finalise Solvency II rules in a strongly worded letter to the European Union Commissioner in charge of regulation, Michel Barnier.
EU and US seek to harmonise insurance regulation
Regulators from the EU will meet with their US counterparts this month in a bid to increase understanding and enhance cooperation between the two regimes on insurance regulation.
Zurich GI UK yet to finalise gender-neutral pricing strategy
Zurich General Insurance UK has yet to set a date for the implementation of gender-neutral pricing, as its UK life division reveals a planned time-frame.
Iran insures South Korean refiner hit by sanctions
South Korean firms are loading Iranian crude again after a gap of nearly two months caused by the European Union embargo on insurance cover.
European floods: keeping the funds flowing
Floods are an on-going threat for Europe, yet the approach to insuring and recovering from them is wide and varied. Francesca Nyman investigates how Europe is tackling the issue and what the future is likely to bring.
Reinsurers look to underwriting results as investment yields fall
The investment returns achieved by reinsurers have fallen significantly during 2012 as Eurozone fears drive a flight to higher grade securities perceived as less risky, according to Guy Carpenter.
Insurance Europe welcomes Solvency II impact assesment
Insurance Europe has welcomed news that the European Union will undertake an impact assessment on measures to deal with long-term guarantee issues in Solvency II before finalising the Omnibus II text.
EU may delay Solvency II
Michel Barnier, the European Union commissioner in charge of regulation, has attributed a potential delay to Solvency II to wrangling between member states over the shape of the regulation.