Insurance Update - September 2019

The following topics are covered in this issue. To see the articles, please log on to our Knowledge Portal or contact your usual Linklaters’ contact.

• IAIS paper on use of big data analytics in insurance
• EIOPA consults on proposals for harmonisation of national insurance guarantee schemes
• EIOPA publishes consultation package on supervisory reporting and public disclosure
• EIOPA consultation on draft opinion on supervision of remuneration principles
• Indian insurance regulator issues a “regulatory sandbox” framework to promote innovation in the insurance sector
• India allows 100% foreign direct investment in insurance intermediaries
• Hong Kong: Insurance Authority codes of conduct and HKMA guidance finalised in advance of new licensing regime for insurance intermediaries
• Stricter BaFin requirements for subordinated capital in the German life insurance sector
• UK PRA consultation on group availability of subordinated liabilities and preference shares
• UK PRA letter re Solvency II remuneration requirements

• PRA updates ISPV materials in light of experience gained of UK ILS regime
• UK PRA letter to life insurers on best practice in proxy modelling

• UK FCA proposes new rules to help consumers with pre-existing medical conditions access suitable travel insurance
• Brexit: Draft Financial Services (Miscellaneous) (Amendment) (EU Exit) (No. 3) Regulations 2019
• Brexit: The Risk Transformation and Solvency 2 (Amendment) (EU Exit) Regulations 2019