Insurance Update - September 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.

• IAIS application paper on macroprudential supervision
• EU Commission proposals for reform of EU Solvency II Directive and new recovery and resolution framework
• European Green Deal: the “Fit for 55 Package”
• ESG: Amendments to EU’s Solvency II and IDD frameworks finalised
• EIOPA supervisory statement on ORSA in the context of Covid-19
• EIOPA consultations on revisions to guidelines on contract boundaries and technical provisions
• EIOPA consults on the approach to the supervision of run-off undertakings
• EIOPA consults on amendments to supervisory reporting and public disclosure requirements
• UK PRA consults on updated approach to insurance business transfers
• PRA Quantitative Impact Study – the next step forward in reform of UK Solvency II
• UK PRA statement on the recalculation of the Transitional Measure on Technical Provisions
• UK PRA consultation on definition of insurance holding company
• Covid-19: Business interruption insurance test case – publication of Supreme Court declarations
• Covid-19: UK FCA expectations re travel insurance
• UK FCA publishes minor changes to new rules on general insurance pricing practices
• UK FCA findings from review of firms’ response to GI distribution chain guidance and Covid-19 value guidance
• UK FCA consultation on amendments to PRIIPs disclosure regime
• UK FCA letters on supervisory strategy
• UK FCA Business Plan 2021-22: A faster future FCA
• India notifies rules for increased foreign direct investment in insurance
• Recent deals