The Standard Formula Podcast | Assessing Prudential Solvency Regimes in the Middle East
The Standard Formula Podcast | Assessing Prudential Insurance Regulation in Japan
The Standard Formula Podcast | Unpacking the IAIS’ Adoption of the Insurance Capital Standard
The Standard Formula Podcast | The SFCR and Other Public Reporting: A Solvency II Cornerstone
The Standard Formula Podcast | Bermuda Monetary Authority Proposes Enhancements to its Regulatory Regime
This chapter discusses the prudential solvency regimes in the Middle East, a crucial topic for anyone involved in the insurance industry. The Middle East is an exciting place to be in today’s insurance market. It is expected...more
The increasingly unstable political situation in Venezuela, exacerbated by the exile of opposition candidate Edmundo González following disputed presidential election results, compels U.S. financial services companies,...more
The results of the November 5, 2024, election in the United States will almost certainly have profound consequences within the country and across the globe. The election will surely impact policyholder exposures, insurer...more
On June 6, 2024, the United States Supreme Court issued its decision on an insurer’s standing in its policyholders’ Chapter 11 bankruptcy proceeding in Truck Exchange v. Kaiser Gypsum Co., 144 S. Ct. 1414 (2024). The decision...more
A "time cut" is a ruling within cycling to ensure that riders keep pace. Similarly, regulators have placed time cuts, or deadlines, for insurers to certify compliance with cybersecurity regulations. Some of the time cuts are...more
On January 17, 2024, the New York State Department of Financial Services (“NYSDFS”) released a proposed circular letter addressing the use of external consumer data and information sources (“ECDIS”) and artificial...more
On July 17, the Innovation, Cybersecurity, and Technology (H) Committee of the National Association of Insurance Commissioners released its exposure draft of the NAIC’s model bulletin on insurers’ use of algorithms,...more
The Association of British Insurers published guidance (the Action on Nature Guide) setting out what insurers and long-term savings providers can do to help prevent biodiversity loss in the UK and become more “nature...more
Various chefs within the National Association of Insurance Commissioners and some individual states’ chefs continue to address insurers’ use of artificial intelligence (AI), machine learning (ML), the use and protection of...more
In Short: The Situation: The cyber insurance market is experiencing a major retrenchment, with insurers seeking to limit their exposure in a variety of ways....more
The pandemic and political turmoil are causing widespread and long-term economic volatility after many years of positive trends. But covered commercial property losses continue, whether caused by fire, wind, or other causes...more
IVASS has launched a survey aimed at understanding the use of Machine Learning algorithms by Italian insurance undertakings and Italian branches of non-EU insurance undertakings, which are required to fill in a specific...more
Kentucky Governor Andy Beshear recently signed House Bill 474 to become the latest state to enact data insurance security legislation. The new law is modeled after the data security law of the National Association of ...more
Cyberattacks on organizations with large consumer databases have been on the rise recently. This is certainly true for the insurance industry, which also has been migrating more business to online platforms in an effort to...more
At the beginning of the year, we published a short report on the surge in year-end insurance regulatory activity concerning climate change risks (available here). January was another busy month, and we report below on...more
On February 4, the New York Department of Financial Services (NYDFS) released Insurance Circular Letter No. 2 (2021), a Cyber Insurance Risk Framework (Framework) for insurers that write cyber insurance....more
Since the Supreme Court’s 2014 decision in Alice Corp. v. CLS Bank Int’l, trying to patent a business method — such as a method for calculating premiums or underwriting for insurance policies — has generally been a fool’s...more
As accelerated underwriting (AU) and artificial intelligence (AI) begin to turn life underwriting upside down, several NAIC working groups are seeking to bring order to the disruption: the Big Data (EX) Working Group (“Big...more
Earlier this month, the California Insurance Commissioner announced that AbbVie had entered into a settlement agreement with the California Department of Insurance (CDOI) to resolve allegations that the pharmaceutical...more
COVID-19 has certainly had an impact on business operations, and the potential implications of insurance coverage in this time can cause unprecedented uncertainty and anxiety. ...more
The comments by regulators during the NAIC Artificial Intelligence (EX) Working Group (AI WG) calls provide insight into regulators' views on insurers' use of artificial intelligence and may foretell areas for future...more
Over the past several weeks, the COVID-19 coronavirus outbreak has shaken global markets and caused widespread disruption to businesses throughout the world. As the virus continues to spread around the globe, many companies...more
In this month's edition of our Privacy & Cybersecurity Update, we take a look at guidance on artificial intelligence released by the U.K. Information Commissioner's Office and the Turing Institute, as well as guidance...more
The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e - newsletter, which offers a legal and regulatory update covering France and Europe for April 2018. ...more
In what many consider a banner year for fintech megadeals, insurtech has begun to take center stage. In early August 2019, Roper Technologies agreed to acquire life insurance software solutions provider iPipeline for $1.6...more