Publication
Calming the storm after the SVB collapse: Prudential policy the key to stability
The collapse of Silicon Valley Bank, Signature Bank and Silvergate Bank in the last week has caused turmoil in global financial market.
Insurance focus
Global | Publication | August 2016
In this edition of Insurance Focus we consider the likely impact of the referendum vote in the United Kingdom to leave the European Union. After over forty years within the European bloc, how will ‘Brexit’, impact the London insurance market?
We also consider the potential for growth in Africa’s speciality lines for those insurers willing to enter the region.
Finally we review some new claims trends linked to new technology and changing social behaviours – including the rise of thefts of ‘hipster’ pets.
In our case notes section we review a landmark German decision on loss adjustments services undertaken by insurance brokers; an Australian case on the timing of a cause of action for non-payment; a recent decision from the Court of Appeal in England and Wales concerning aggregation wording; a review of the impact of the recent decision of the Italian Supreme Court concerning claims made clauses and finally a tragic case reaffirming that the frailty of an injured person will not proffer a defence in civil liability.
We also include international regulatory developments.
Contents
Recent publications
Publication
The EU Foreign Subsidy Regulation: A new set of wide-reaching powers for the European Commission
The European Union’s Foreign Subsidies Regulation (the FSR) entered into force on 12 January 2023 and creates a new regime aimed at combating distortions of competition on the EU internal market caused by foreign subsidies. It imposes mandatory notification and approval requirements for acquisitions of significant EU businesses and large EU public tenders, and gives the European Commission (EC) extensive powers to launch ex officio investigations. The notification requirements go live on 12 October 2023.
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