Chair of Insurance Law Committee
Philip Hill, Clifford Chance LLP
Insurance Law Committee response to the PRA and the FCA's consultation on the authorisation and supervision of insurance special purpose vehicles
City of London Law Society's response to HM Treasury's consultation on regulations implementing a new regulatory and tax framework for Insurance Linked Securities
Potential Impact of Brexit on the Insurance Industry
The Insurance Law Committee recently commented on the draft Insurance Contracts Bill (as it was then titled) in response to an HMT consultation on the Bill. HMT consulted on whether the draft Bill had a broad consensus of support, in order to determine whether it would be suitable for consideration under the new House of Lords procedure for uncontroversial Law Commission Bills. Following many years of involvement in the Law Commission's consultation process on insurance law reform, the Committee also submitted comments separately to the Law Commission on the draft Bill (see above). The Bill was recently introduced into Parliament as the Insurance Bill.
04/11/2013 - Response to PRA Consultation Paper on Capital extractions by run-off firms within the general insurance sector (CP7/13)
The consultation sought views on the PRA’s draft supervisory statement which clarifies the PRA’s expectation of compliance with existing prudential provisions within the PRA Handbook for run-off firms in the general insurance sector. The response welcomed the consultation paper as a helpful expansion of the PRA’s thinking and the internal procedures it applies when considering a proposal for capital extraction, but raised several points which it felt required clarification.
01/11/2013 - Response to PRA Consultation Paper on Schemes of arrangement by general insurance firms (CP6/13)
The consultation sought views on the PRA’s draft supervisory statement which explains the stance the PRA will take where insurance firms are proposing schemes of arrangement for solvent insurers. The response raised a number of concerns, and stated that it appeared that in a number of respects, the consultation paper was not consistent with the PRA’s stated policy on insurance supervision as set out in the PRA Approach Document.
Response to FSA consultation paper CP 12/38 - Mutuality and with-profits funds: a way forward
Review of Client Money Rules for Insurance Intermediaries
Response to The Law Commission Consultation Paper “Insurance Contract Law: Post Contract Duties and Other Issues”
Response to HM Treasury consultation on ECJ Judgment in case 236/09 Test Achats
Response to Strengthening the Administration Regime for Insurers Consultation
Response to Law Commission Review of Insurance Contract Law Issues Paper 6 - Damages for Late Payment and the Insurer's Duty of Good Faith
Response to the targeted consultation by the Ministry of Justice on the Third Parties (Rights Against Insurers) Bill
Insurance Law Committee Business Plan 2008/09
Response to FSA Consultation Paper 08/11 With-Profits Funds - Compensation and Redress
Response to the Ministry of Justice Consultation on Rome I - Should the UK opt in?
Law Commission Review of Insurance Contract Law - Paper 4 Insurable Interest
Law Commission Review of Insurance Contract Law - Response to Consultation on Misrepresentation, Non-Disclosure and Breach of Warranty by the Insured
Response to HM Treasury on proposals to implement the Reinsurance Directive
Law Commission Review of Insurance Contract Law - Paper 3 Intermediaries and pre-contract information
Law Commission Review of Insurance Contract Law - Paper 2 Warranties
Law Commission Review of Insurance Contract Law - Paper 1 Non-disclosure and misrepresentation