In issue four of this publication, we provide an update on the decree from the French Treasury regarding terrorism coverage for MAT risks and also on developments in the US on TRIA. There is further news on the work to establish Lloyd’s China and also to reduce US collateral requirements for Lloyd’s and other non-US reinsurers, as well as the proposed amendments to the reinsurance regulations in California. There are updates on progress by EU member states in implementing the Insurance Mediation Directive, on the review of the regulatory framework in New Zealand and news from the US Virgin Islands.

Worldwide Markets provides a wealth of information supporting the market’s international trading. WWM and Taxation’s content makes up about one-third of the information available on lloyds.com. The provision of this information is essential to protecting Lloyd’s licences. In consultation with the market, we are developing this web information into a more flexible database to assist you with the international compliance, fiscal and business process. Further information regarding this project can be found in this publication.

The purpose of this quarterly newsletter is to keep you advised of compliance issues around the world, to ensure that you are aware of any changes and possible forthcoming requirements. If you have any questions or comments regarding this publication, please do not hesitate to contact Worldwide Markets.

Rosemary F Beaver
Head of International Compliance
Lloyd’s Worldwide Markets