European Union (EU)
Cameron McKenna backs FSA Solvency II timetable change
City law firm Cameron McKenna has commended the Financial Services Authority for adapting its implementation timeline for Solvency II.
Western sanctions threaten to halt Iran's shipping industry
Western sanctions are jeopardising Iran's vital shipping industry, and the country's biggest cargo carrier will face serious problems if the pressure continues, according to the head of the Islamic Republic of Iran Shipping Lines.
EU extends Iran sanctions to natural gas
The European Union has bolstered sanctions against Iran, including banning the importing of natural gas from the country owing to a "lack of progress in nuclear talks".
RK Harrison unveils professional indemnity cover for art sector
R K Harrison Insurance Services has developed a professional indemnity insurance policy for art market professionals.
Bernardino blasts "stagnation" in Solvency II talks
Gabriel Bernardino has condemned the "stagnation" in political talks to finalise Solvency II rules in a strongly worded letter to the European Union Commissioner in charge of regulation, Michel Barnier.
EU and US seek to harmonise insurance regulation
Regulators from the EU will meet with their US counterparts this month in a bid to increase understanding and enhance cooperation between the two regimes on insurance regulation.
Zurich GI UK yet to finalise gender-neutral pricing strategy
Zurich General Insurance UK has yet to set a date for the implementation of gender-neutral pricing, as its UK life division reveals a planned time-frame.
Iran insures South Korean refiner hit by sanctions
South Korean firms are loading Iranian crude again after a gap of nearly two months caused by the European Union embargo on insurance cover.
European floods: keeping the funds flowing
Floods are an on-going threat for Europe, yet the approach to insuring and recovering from them is wide and varied. Francesca Nyman investigates how Europe is tackling the issue and what the future is likely to bring.
Reinsurers look to underwriting results as investment yields fall
The investment returns achieved by reinsurers have fallen significantly during 2012 as Eurozone fears drive a flight to higher grade securities perceived as less risky, according to Guy Carpenter.
Insurance Europe welcomes Solvency II impact assesment
Insurance Europe has welcomed news that the European Union will undertake an impact assessment on measures to deal with long-term guarantee issues in Solvency II before finalising the Omnibus II text.
EU may delay Solvency II
Michel Barnier, the European Union commissioner in charge of regulation, has attributed a potential delay to Solvency II to wrangling between member states over the shape of the regulation.
'Credibility' of industry hinging on trialogue talks, says PWC
The reputation of the European insurance industry is in the balance as talks continue on the final text of Omnibus II, according to PWC.
EU placated as Guernsey repeals "harmful" tax provisions
Guernsey's revised zero-10 corporate tax regime has been given a clean bill of health by the European Union after previously being deemed harmful by regulators.
Iran praises sanctions for kickstarting insurance market
Iran's insurers are ready to offer cover to foreign ships traveling through Iranian waters, according to Seyed Karimi, president of Iran's insurance regulator Bimeh Markazi.
Guernsey signs tax agreements with Italy and Latvia
Guernsey has signed tax information exchange agreements with Italy and Latvia in an effort to increase transparency with the two European Union member states.
Further delays to Omnibus II
Omnibus II has been delayed again with the new date of implementation set at 20 November, Post understands.
Cyber liability: Combatting cyber crime
From the £21bn bill for businesses to the inevitable reputation damage, cyber crime can have a devastating impact on UK organisations. So why do so few understand or act on the risks?
Understanding cyber risks
Cyber risks have become high profile but, as David Froud explains, insurers need to conduct more than simple Q&A assessments to understand the true nature of a company’s data value and the potential cost of a loss.
Milliman launches Solvency II reporting tool for insurers
Global consulting firm Milliman is launching a suite of Solvency II analysis and reporting tools designed to meet the demands of European insurers and reinsurers.
EC drops anti-trust probe into marine insurance agreements
An anti-trust inquiry by the European Union into marine insurance agreements among groups of ship owners has been dropped owing to a lack of conclusive evidence.
Japan's first self-insured Iranian oil shipment loaded
Japan has reportedly loaded its first self-insured shipment of Iranian crude oil on two Japanese tankers.
Travel cancellation insurance must be opt-in, ECJ rules
Online travel agents can no longer automatically include travel cancellation insurance in the price of plane tickets bought on the internet, following a ruling by the European Court of Justice.