In 2021 Italy established its first regulatory sandbox for insurance, financial and banking sector innovations. In March 2022 the first insurance-related project was approved. Given the relevance of this regulatory market development, this article outlines the relevant legal frameworks envisaged for these initiatives and analyses the first approved project, which is a blockchain-based registry for ownership and policies for unregistered velocipedes.
Released on Sep 27, 2022
The highly anticipated SUSEP Resolution 407/2021 allows parties to negotiate contract terms freely for large-risk insurance in Brazil, instead of being bound to use the template wording created by the regulator.
Released on Jul 27, 2022
The EU’s European Council and the European Parliament have reached a provisional agreement on a new cybersecurity regulation with implications for the insurance sector. As a result of the proposed regulation, the Swedish Financial Supervisory Authority proposes to extend its supervision in this area.
Released on Jul 27, 2022
International companies should be aware of the bases in US law for holding insurance companies liable for bad faith and related above-policy-limits liabilities in the wake of unfounded claims denials or payment delays. The opportunity to press such claims under the right circumstances provides policyholders with crucial leverage when claims are wrongfully denied.
Released on Jul 27, 2022