Grant Murtagh has recently begun writing a regular column for Practical Law in which he shares his thoughts on topical insurance issues. In his first issue, Grant discusses:
HM Treasury’s review of Solvency II and the efforts to build consensus on what will change as a result of that review
The PRA’s focus on concentration risk in the context of longevity reinsurance and its focus on “funded” reinsurance
The new Consumer Duty, the need for a longer implementation period and the FCA’s recent comments on insurers playing their part in supporting customers through the current cost of living crisis
Recent business Interruption (BI) insurance decisions, in Stonegate Pub Company v MS Amlin, Greggs PLC v Zurich Insurance PLC and Various Eateries Trading Ltd v Allianz, which consider a range of important issues not previously addressed by the FCA test case. (For a more detailed discussion of these cases, please see our blog post here written by Paul Lewis, Sarah Irons and Sarah McCadden, published on 21 October 2022)
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