This article addresses the legal and practical issues for lenders on leveraged buy-outs in relation to taking security over warranty and indemnity insurance policies. This article first appeared in the March issue...more
UK Government introduces new sanctions measures and extends the reporting obligations to Cryptoasset exchange and custodian wallet providers. The UK Government has implemented new restrictions in relation to investments in...more
The global pandemic brought a wave of changes and developments that have impacted, and continue to impact, the insurance sector. As we look ahead, we see further change on the horizon.
Around the world, we continue to...more
7/13/2021
/ Acquisitions ,
Business Interruption ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
Germany ,
Insurance Industry ,
Insurtech ,
Mergers ,
Reinsurance ,
Sanctions ,
UK
Warranty and indemnity insurance (W&I) in recent years has become a customary aspect of private equity and other M&A transactions, with investors well aware of the deal-enabling benefits (in particular, the transfer of risk...more
On 4 October 2019, the FCA published its much anticipated Interim Report on its Market Study into general insurance pricing practices (the “Interim Report“)....more
On 20 May 2019, the FCA published findings from its multi-firm review into the supervision by principal firms of their appointed representatives (“ARs“) in the investment management sector (“Investment Management Sector...more
As a global insurance industry team, we aim to follow industry trends and developments as closely as possible in order to deliver well informed perspectives and thought leadership to our clients and contacts.
In the newly...more
5/22/2019
/ Artificial Intelligence ,
Business Transfer Agreements ,
China ,
Climate Change ,
Data Protection ,
General Data Protection Regulation (GDPR) ,
Health Insurance ,
Insurance Regulations ,
Reinsurance ,
Solvency II ,
Sustainable Business Practices ,
UK ,
UK Brexit
Executive summary:
On 21 January 2019, OFSI issued its first monetary penalty for a breach of financial sanctions, marking a significant development in the UK’s evolving sanctions enforcement landscape. ...more
On 12 October 2018 the High Court handed down judgment in a case that concerned a claim brought against insurers for payment under a marine cargo policy relating to the theft of steel billets from an Iranian port in late...more
10/18/2018
/ Blocking Statutes ,
Economic Sanctions ,
Insurance Industry ,
Insurance Litigation ,
Iran ,
Iran Sanctions ,
Joint Comprehensive Plan of Action (JCPOA) ,
Marine Insurance ,
Policy Exclusions ,
Policy Terms ,
Shipping Cargo ,
Theft ,
UK
Currently the UK, as a Member State of the EU, adopts UK and EU sanctions through EU Council decisions and regulations, brought into effect in the UK by Section 2 of the European Communities Act 1972....more
On 8 August 2017, the European Union Financial Sanctions (Amendment of Information Provisions) Regulations 2017 (the "Regulations") will come into force. The Regulations "expand the scope of the reporting requirements set out...more
The UK government has set out plans in this week’s Queen’s Speech for a new International Sanctions Bill (the “Bill“) that aims to ensure that the UK will continue to meet its international sanctions policy obligations and...more
The FCA has outlined the current trends, risks and its overall assessment of the General Insurance sector in its 2017 Sector Views, published last week. ...more
4/28/2017
/ Arbitrage ,
Automotive Industry ,
Big Data ,
Competition ,
Connected Cars ,
Data Collection ,
Financial Conduct Authority (FCA) ,
Insurance Industry ,
Online Platforms ,
Regulatory Standards ,
Retail Market ,
Supply Chain ,
Technology Sector ,
UK ,
Websites ,
Wholesale
The Policing and Crime Act 2017 (the “2017 Act“) has introduced measures to strengthen the effectiveness of the UK’s financial sanctions regime. The delay in the implementation of UN sanctions as a result of EU processes is...more
The Policing and Crime Act 2017 (the “2017 Act“) came into effect on 1 April 2017, and introduced a number of changes, including new powers for the Office of Financial Sanctions Implementation (“OFSI“) to impose increased...more