Flood Basics still causing pain for some
The Standard Formula Podcast | Using an Internal Model to Calculate the Solvency Capital Requirement
The Standard Formula Podcast | Dissecting the Solvency Capital Requirement
Best Practices for Negotiating Manuscript Exclusions
AGG Talks: Healthcare Insights - Episode 1: A Primer for Providers When Insurance Companies Refuse to Pay
The Standard Formula Podcast | Solvency II Back to Basics: Technical Provisions
D&O Insurance Myths (Part 2)
Hinshaw Insurance Law TV | Bad Faith Law
The Standard Formula Podcast | Investment Rules for Insurers and Reinsurers
D&O Insurance Myths (Part 1)
The Standard Formula Podcast | Understanding the UK’s Matching Adjustment Regime
The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
Standard Formula Podcast | Reinsurance and Risk Transfer: Risk Mitigation Under the Solvency II Regime
Hinshaw Releases Second Edition of Duty to Defend: A Fifty-State Survey
Hinshaw Insurance Law TV – Transaction Insurance Solutions
The Standard Formula Podcast | Understanding Insurance Resolution Regimes
The Risk Roundtable: Demystifying the Intersection Between NJ Workers' Comp & Employment Practice Liability
GILTI Conscience Podcast | Tax Insurance 101
Insurance for the Cannabis Industry: Risks & Challenges
The Standard Formula Podcast | International Association of Insurance Supervisors: Who They Are and Their Industry Impact
Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business: - Pillar One focuses on...more
The PRA has released an important statement on its approach to funded reinsurance. Our view is that the statement endorses the conceptual principle that funded reinsurance (particularly to offshore counterparties) should best...more
There are two main methods of calculating the solvency capital requirement (SCR) under Solvency II, the “standard formula” and “internal model” methods: (a) The standard formula method, as its name suggests, is the default...more
The Solvency Capital Requirement (SCR) is designed to protect policyholders by helping ensure that insurers can survive difficult periods and pay claims as they fall due. It prescribes a specific level of capital that an...more
“The value of technical provisions should correspond to the amount which another insurance or reinsurance undertaking (the reference undertaking) would be expected to require to take over and fulfil the underlying insurance...more
“The Solvency Capital Requirement, or SCR, is designed to protect policyholders by helping to make sure that insurers can survive difficult periods and pay claims as they fall due.” In this episode of "The Standard Formula"...more
1. Background to the Matching Adjustment - “Where insurance and reinsurance undertakings hold bonds or other assets with similar cash flow characteristics to maturity, they are not exposed to the risk of changing spreads...more
This episode of “The Standard Formula” podcast features a conversation with the Financial Institutions Group’s Ben Lyon and Verena Mengis, who walk listeners though recent proposals for reform relating to Solvency U.K. and...more
Key Tax Measures The Chancellor of the Exchequer delivered the United Kingdom (“UK”) Spring Budget for 2024 on 8 March, 2024. The Budget was delivered against the backdrop of an anticipated general election in the summer...more
Group supervision regulates the impact that members of a Solvency II group may have on a UK Solvency II insurer. The rules governing Solvency II groups are contained in the PRA Rulebook (Group Supervision), the Solvency 2...more
(Re)insurance is a global business. It is common for (re)insurance groups to operate in a range of jurisdictions via: i. locally incorporated and authorised subsidiaries, ii. local branches of third country...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months....more
Own funds is the Solvency II term for the items that constitute a (re)insurer’s regulatory capital. These are principally balance sheet items, with limited allowance for off-balance sheet items. Own funds are items that...more
On 16 November 2023, the UK Prudential Regulatory Authority (PRA) released draft measures to address perceived risks in the market for funded reinsurance, which is widely used as part of transactions that shift pension scheme...more
As the pace of reform increases, we take a look at key developments and the timeline ahead. Significant progress has been made on the Edinburgh Reforms since they were announced in December 2022, with developments...more
The EU’s Solvency II regime came into force in the UK on 1 January 2016, following many years of development in which the UK was deeply involved. In June 2020, post-Brexit, the government announced a wide-ranging review of...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next couple of months....more
In late January 2023, the UK government issued a detailed consultation paper to introduce a long-awaited resolution regime for UK (re)insurers. The new regime addresses long-standing concerns about how the UK would manage one...more
The letters ask senior management to prioritise implementing the Duty. On 3 February 2023, the FCA published Dear CEO/Director letters underscoring the immediate (i.e., during the implementation period up until 31 July...more
The UK Prudential Regulation Authority (PRA) laid out its priorities for insurance supervision this year in a 10 January 2023 Priorities Letter. In this newsletter, we summarise the broad themes emerging from the Priorities...more
As the Russian invasion of Ukraine continues, so too does Russia’s isolation from the West. Member nations of the Group of Seven (G7)—the United States (U.S.), Canada, France, Germany, Italy, Japan, and the United Kingdom...more
Yesterday (28 April 2022), HM Treasury published its much-anticipated consultation paper on its proposals to reform aspects of the UK’s Solvency II regime. At the same time, the Prudential Regulation Authority (PRA)...more
Flood insurance: UK government response to independent review Following the publication in November 2020 of a report on the independent review of flood insurance in Doncaster, the government has published a policy...more
Solvency II review: PRA QIS material and related Dear CEO letter on data gathering The Prudential Regulation Authority (PRA) has updated its Solvency II Review Quantitative Impact Study (QIS) webpage with the QIS materials,...more