About the Committee
Insurance is present in every facet of commercial, industrial and private life. Lawyers practising in many different fields encounter insurance and its problems and can greatly benefit from the knowledge which membership of this Committee provides.
The Committee aims to provide its members, and the Division as a whole, with information about developments in insurance and reinsurance law and markets throughout the world as well as with specialist knowledge to assist in the efficient solution of practical insurance problems. New insurance products are also brought to the attention of members.
Forthcoming conferences and webinars View All Conferences
Insurtech and digitalisation of the insurance sector: the first steps of the Italian regulatory sandbox
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 EU has produced two recent publications on the Insurance Distribution Directive concerning distribution of insurance products, on the application of the IDD and other on sanctions. This article highlights recent developments in the operation and regulation of insurance intermediaries within the European Union.
Released on Aug 09, 2022
A new recovery and resolution framework for EU failing insurers and reinsurers is making progress, and is scheduled to be implemented by EU Member States by the end of 2024. The new framework (IIRD) includes regulatory tools to deal with distressed insurers such as solvent run-off, sale of the business, bridge undertaking, asset and liability separation and ‘bail-in’ (write-down and conversion).
Released on Aug 09, 2022
SUSEP Resolution 407/2021: freedom for parties to negotiate contract terms for large-risk insurance in Brazil
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
Subcommittees and other groups
The Insurance Committee also coordinates the activities of the following subcommittees/working groups.
- Insurance Regulation Subcommittee