Regulation & Compliance
News, insights and thought leadership for re/insurance professionals with an interest in regulation and compliance.

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Business interruption battles could cut demand for insurance, UK regulator says

Anna Sweeney, executive director of the insurance supervision division at the Prudential Regulation Authority said there is a risk of a protection gap as a result of the coronavirus pandemic...
Anna Sweeney, executive director of the insurance supervision division at the Prudential Regulation Authority said there is a risk of a protection gap as a result of the coronavirus pandemic...
Article / 2 years ago

Looming test case appeals prolong uncertainty around UK virus insurance claims

Both insurers and policyholders could appeal the parts of the Financial Conduct Authority's business interruption test case verdict that went against them, and there may not be a verdict until next year...
Both insurers and policyholders could appeal the parts of the Financial Conduct Authority's business interruption test case verdict that went against them, and there may not be a verdict until next year...
Article / 2 years ago

COVID claims battles show insurance policies should change. The question is how

There are growing calls for clearer policy wordings amid disputes around rejected coronavirus business interruption claims. But the changes may not be easy, according to lawyers...
There are growing calls for clearer policy wordings amid disputes around rejected coronavirus business interruption claims. But the changes may not be easy, according to lawyers...
Article / 2 years ago

Retroactive business interruption cover would make pricing 'astronomical'

Washington Insurance Commissioner Mike Kreidler said regulators are united in their opposition toward retroactively forcing insurers to cover business interruption claims that were...
Washington Insurance Commissioner Mike Kreidler said regulators are united in their opposition toward retroactively forcing insurers to cover business interruption claims that were...
Article / 2 years ago

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