HFW Insurance Bulletin: April 2019 – Edition 1
In this issue: Regulation and legislation; Market Developments.
1. Regulation and legislation
The FCA has published a speech given by Nausicaa Delfas, Executive Director of International at the FCA, in which she warns that, while the FCA has worked to anticipate and resolve potential problems arising out of Brexit, a no-deal Brexit still carries risks.
The PRA and the FCA have confirmed that the window for EEA firms which have passported into the UK to notify their intention to use the temporary permissions regime has been extended to the end of 11 April 2019.
The European Insurance and Occupational Pensions Authority (EIOPA) has published a report on best practices on licensing requirements, peer-to-peer (P2P) insurance and the principles of proportionality in an InsurTech context.
2. Market developments
The cyber market remains immature and many would say relatively untested at present. It is widely thought that cyber represents the hottest topic with the greatest potential for development in the insurance and reinsurance sector for 2019 and indeed, the years to come.
For further information please contact the authors of this bulletin