HFW Insurance Bulletin: July 2019 Edition 2
In this issue: HFW publications and events; Regulation and legislation; Court cases and arbitration
HFW has launched two client videos which discuss current issues in the insurance market.
- UK: FCA proposes ban on sale of crypto-derivatives to retail consumersThe FCA has proposed restricting the sale of derivatives and exchange traded notes (ETNs) referencing certain types of cryptoassets (crypto-derivatives) to protect retail consumers.
- EU: Outsourcing to Cloud Service Providers: EIOPA consults on new guidelines
EIOPA is currently consulting on new guidelines on the use of cloud service providers by (re)insurance undertakings and has called for responses by 30 September 2019.
- EU: EFRAG Questionnaire relating to IFRS 9 and IFRS 17The European Financial Reporting Advisory Group (EFRAG) has launched a questionnaire targeted at insurers.
- UK: All Change at Lloyd’sHere is our round-up of three recent developments at Lloyd’s.
- England & Wales: When is a claim in tort a claim in contract? Applying jurisdiction provisions to third party claims
This case involved the determination of complex jurisdictional issues in a dispute concerning an insurance policy. The central issue was whether or not a bad faith claim brought against the insurer by third parties to the Policy was in substance a claim under the Policy (such that the dispute resolution provisions should apply).
For further information please contact the authors of this bulletin