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Regulatory Communications
A monthly round up of UK and international regulatory news.

Terrorism Risk Insurance Program Reauthorization Act of 2015

On 12 January 2015, President Obama signed the Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIPRA/TRIA) (H.R.26) into law, thereby extending the TRIA Program for an additional six years. The reauthorisation introduces few or no changes of direct consequence to the Lloyd’s Market in 2015. ... read more

US: Reduced Credit for Reinsurance Requirements - Pennsylvania

Reduction in collateral requirements in respect of US reinsurance contracts with Pennsylvania domiciled cedants.... read more

Progress on Solvency II and Global Capital Standards

Solvency II latest legislative developments involve the publication by EIOPA of Implementing Technical Standards (ITS) and Guidelines (Levels 2-3) for consultation. The IAIS’s first proposal for a risk-based global Insurance Capital Standard (ICS) has also been issued for consultation.... read more

UK: Senior Insurance Managers' Regime

Important changes are proposed to the UK’s rules for senior managers in the insurance sector.... read more

New Guidelines for Insurers on Distribution in Poland

The Polish Financial Supervision Authority has introduced guidelines for insurers on the supervision of their distribution channels.... read more

 

What's new

What's New Archive

Latest international regulatory Market Bulletins

Benin, Cameroon, Burkina Faso, Central African Republic, Chad, Comoro Islands, Equatorial Guinea, Gabon, Guinea-Bissau, Ivory Coast, Mali, Niger, Senegal, Togo
Offshore oil platforms exempted on facultative basis.

Canada - Manitoba
Rate filing for hail business no longer required.
New LSW1851 to reflect new statutory conditions.

Dominican Republic
Income tax rate decreased.

France
Motor property damage and liability social security change abolished.

Greece
Pension fund charge abolished.

Indonesia
New requirements and exemptions for treaty and facultative reinsurance.

Jamaica
New witholding tax.

Malta
Stamp duty increased.

Netherlands
Effective 1 January 2015 intermediaries unable to handle premium for complex product.

Poland
Effective 31 March 2015, new guidelines on intermediary remuneration, how insurers manage distribution arrangements, treatment of life beneficiaries and master policies.

Portugal (incl dependencies)
National Institute of Medical Emergency (INEM) rate change.

Slovenia
Tax rate increase effective 1 January 2015.

Spain (incl dependencies)
Updated policy production guidelines.

Sweden
Automatic enrolment for some master policies prohibited from 1 July 2015.
Limitation period changes from 1 January 2015.
Enhanced duty to check for policyholder death effective 1 January 2015.

US - Federal
Exempt Commercial Purchase (ECP) USD amounts adjusted for inflation.
Updated TRIA content.

US - Illinois
Notice to policyholder to cancel after observable subsidence.
Admitted property and casualty group policies prohibited.

For further details access the Crystal what's new report

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