Insurance Update - March 2021

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.

• Draft IAIS application paper on macroprudential supervision
• EU Commission review of Solvency II – summary of feedback to July 2020 consultation
• Proposed changes to the PRIIPs regime finally sent to the Commission
• EIOPA advice on KPI disclosure obligations under Article 8 of Taxonomy Regulation
• EIOPA discussion paper on open insurance
• EIOPA comparative study on non-life underwriting risk in internal models
• Germany: Increased BaFin requirements for InsurTechs
• UK: PRA letter to life insurers on the application of the “effective value test”
• UK: Five lessons for firms’ operational resilience planning
• UK: FCA business interruption insurance test case
• Covid-19: UK FCA consults on extending guidance on cancellations and refunds
• Foreign direct investment in the Indian insurance sector
• India: Dividend and capital adequacy developments on account of the Covid-19 pandemic
• IRDAI declares the promoters of Sahara India Life Insurance Company Limited as not “fit and proper”
• Recent deals