Life insurance

Recent Articles

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  21/01/2020

  CJEU rules insurers liable for not informing life insurance policy holders of cancellation rights

  The CJEU ruled that the failure of life insurers to inform policyholders of their right to cancel their life insurance policies or the communication of incorrect information that limits a policyholder's cancellation rights entitles a customer to receive the repayment of all paid insurance premiums, including capitalised interest. Such entitlements will remain in place even after the conclusion of the policy and in certain circumstances after its termination. In their opinion, the CJEU stated that the right of life insurance policyholders to cancel their policy exists even if their life insurers...

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  13/01/2020

  Insurance 2020: Year Ahead

  Following the general election promise to ‘get Brexit done’, Brexit will, of course, continue to dominate, driving further corporate reorganisations and movement out of capital-intensive products. Many insurers have already set up operations in Belgium and Luxembourg in preparation for Brexit, and we will be looking at what’s going on in the Belgian and Luxembourg insurance markets. Customer needs will be a big theme again this year, with the FCA continuing work on its ‘TCF package’ looking at pricing and distribution, value for money, intergenerational differences,...

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  11/04/2018

  Securitisation Regulation: 60 minutes to understand the new rules and issues

  CMS cordially invite you to attend a webinar: 11 April 2018 | 10:00 UK/ 11:00 CET Securitisation Regulation: 60 minutes to understand the new rules and issues This webinar will last one hour (including a Q&A session) and will provide an update on new EU regulations regarding securitisation. Four expert speakers from the UK, France and Spain will cover the areas you need to be aware of. Agenda: Scope of the new regulations (STS and CRR treatment) New rules applicable to any EU securitisation STS CRR/other directive changes REGISTER NOW

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  16/06/2017

  Germany: KIDs for PRIIPs are coming

  But what is a KID or a PRIIP? A “KID” is an information sheet consisting of at most three A4 pages. It provides the consumer with information on the main features of the respective product. Focus is on the risks, reward profile and costs associated with the product. A “PRIIP” is a packaged retail and insurance-based investment product that might be subject to investment risks for retail investors. The PRIIPs Regulation covers all investment products and contracts in which consumers invest money directly or indirectly in the capital market or where its repayment is otherwise...

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  31/05/2017

  FCA consultation on Insurance Distribution Directive implementation (1)

  Overview This report concentrates on the ICOBS changes. FCA is consulting on the implementation of the Insurance Distribution Directive ((EU) 2016/97) (“IDD”)[3]. The IDD will replace the current EU regime under the Insurance Mediation Directive (2002/92/EC) (“IMD”) and must be implemented by 23 February 2018. This article considers CP17/7 which is the first of two FCA consultations on IDD implementation. The second FCA consultation, expected later this year, will cover implementation of the insurance product information document (“IPID”) requirements and the...

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  14/12/2016

  Changes to the Taxation of Life Insurance Policies

  Where a life insurance policy falls within the definition of a PPB, an annual tax charge is levied. In March this year, the government announced its intention to review the permitted property categories which may be selected by life insurance policyholders to invest in without triggering the provisions of the PPB legislation. The government has now announced its intention to legislate in Finance Bill 2017 to confer on itself the power to introduce regulations to update the list of permitted property categories. As well as enabling new asset categories to be added to the list of permitted property,...

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