HFW Insurance Bulletin April 2016

Welcome to HFW’s Insurance Bulletin, which is a summary of the key insurance and reinsurance regulatory announcements, market developments, court cases and legislative changes of the week.

In this week’s bulletin:

1. Regulation and legislation

• EU Antitrust: The European Commission questions the renewal of the Insurance Block Exemption Regulation.
• EU: EIOPA publishes feedback statement on its opinion on internet sales of insurance and pension products.
• UK: PRA speech on regulatory issues for insurers and PRA expectations in current market conditions.
• UK: FCA case studies on opt-out selling and improved information for add-on buyers.

2. Market Developments

• UK: New Insurance Act 2015 model clauses published by the Lloyd’s Market Association.

3. Court cases and arbitration

• UK: Today – Court of Appeal: Aggregation of Solicitor PI claims – AIG Europe Limited v OC320301.
• England & Wales: Insurers unable to rely on non disclosure clause to avoid policy – Mutual Energy Ltd v (1) Starr Underwriting Agents Ltd (2) Travellers Syndicate Management Ltd.
• England & Wales: Client monies held by insolvent brokers are subject to a trust for the purposes of CASS 5 – Allanfield Property Insurance Services Ltd and Ors v Aviva Insurance Ltd and Anor.

4. HFW publications and events

• HFW Associates host drinks reception.
• New register for UK companies of persons with significant control.
• HFW attending 12th International Risk Management Conference.
• HFW gives seminar to Aon on underwriting Latin American risks and claims handling issues.

Should you require any further information or assistance on any of the issues dealt with here, please do not hesitate to contact any of the contributors to this bulletin, or your usual contact at HFW.