Life insurance

Recent Articles

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  16/05/2025

  UK FCA consults on simplifying Insurance Rulebook

  On 14th May 2025, the UK Financial Conduct Authority (FCA) published a consultation paper (CP25/12) on proposals to simplify its insurance rules for insurance firms and funeral plan firms. The proposals aim to streamline FCA rules and guidance and reduce unnecessary burdens on firms, while ensuring adequate consumer protection.Determining which rules apply to commercial insuranceThe FCA proposes to introduce a new definition, referred to as "contracts of commercial and other risks", to replace the current "contracts of large risks". Under this new bespoke definition, large commercial insurance...

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  22/07/2024

  Key Takeaways from our AI in Financial Services Panel Event

  During our recent panel event on Artificial Intelligence (“AI”) in Financial Services, the panel explored how firms are implementing AI in practice, the application of legal, regulatory and ethical frameworks to AI, and potential challenges for firms and regulators. An audience of legal, compliance and business professionals from across the sector made interesting contributions to the debate. The session operated under the Chatham House rule, but here are some of the key takeaways from what was a fascinating discussion....

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  21/01/2020

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

  The European Court of Justice (CJEU) was recently asked to rule on the EU's Solvency II Directive (and all earlier legislations regulating life insurance) regarding the cancellation rights of insurance policyholders. 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...

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  13/01/2020

  Insurance 2020: Year Ahead

  Welcome to Insurance 2020, our series of topical articles for the insurance market. Insurance 2020 pulls together key industry themes for the year ahead and will be delivered to your inbox throughout January and February. Given the continuing uncertain global economic and political backdrop, 2020 promises to be another dynamic year for the insurance market. It will undoubtedly be a year of great change, driven by substantial M&A activity, enhanced use of technology, more demanding customers and more intrusive regulators. Following the general election promise to ‘get Brexit done’,...

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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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