The Great Fire of London was finally extinguished 350 years ago today. New insurance structures emerged in the aftermath of the Great Fire – which bear striking resemblance to some of ...05 September 2016
UK: Extension of Senior Managers Regime to insurance companies: Update
- the regime will not be the same as the regime for banks, for example, there will be no statutory provision for applying the "reverse burden of proof";
- the regime will apply to senior actuaries of both life and non-life insurance companies, as well as CEOs, chairmen, chief financial and risk operators.
Secondary legislation to amend the Financial Services (Banking Reform) Act 2013 will be needed in order to extend the senior managers regime to insurance companies. Details of the senior managers regime, as it applies to banks and investment firms, are set out in our blog dated 21 August 2014.
The Insurance Act 2015 (the "Act") comes into force tomorrow. It represents a fundamental departure from existing insurance law. The changes impact on a number of key areas which are...11 August 2016
The Supreme Court published two judgments on how dishonesty affects insurance claims before the end of the most recent Trinity term:10 August 2016