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21 Dec 2009, 2:22 am
“This Bill implements Law Commission and Scottish Law Commission recommendations about the rights of a third party to claim directly against an insurer. [read post]
2 Aug 2011, 2:49 am
On May 23, 2011, the Securities and Exchange Commission (the “SEC”) and the Commodity Futures Trading Commission (the “CFTC”) proposed joint rules in Federal Register 33-9204 (click here for a copy) that define the terms swap, security-based swap, security-based swap agreement, and mixed swaps. [read post]
19 Nov 2013, 7:00 am
Historically, state insurance laws prohibited brokers from receiving insurance commissions without being licensed as insurance agencies, and the insurance laws of several states precluded the issuance of insurance licenses to broker-dealers. [read post]
30 May 2008, 8:24 am
On 28 May the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) published two Papers of final advice to the European Commission for the Solvency II project, entitled "Advice to the European Commission on aspects of the Framework Directive Proposal related to Insurance Groups" and "Advice to the European Commission on the Principle of Proportionality in the Solvency II Framework Directive Proposal".The… [read post]
21 Jul 2010, 2:21 am
With respect to joint insurance, the Commission suggests that where one insured party commits a fraud, it should be open to an innocent insured party to rebut the presumption that the fraud has been committed on behalf of all the insured parties. [read post]
26 Aug 2010, 2:10 am
On 17 August 2010 the China Insurance Regulatory Commission (the CIRC) issued basic guidelines for the internal controls at Chinese insurance companies, which include monitoring their allocation and management of insurance funds.The CIRC is encouraging Chinese insurers to organize and implement internal control measures on insurance funds, including asset allocation, asset and liability matching, investment decision making, investment transaction… [read post]
7 Aug 2008, 7:35 pm
The Automobile Injury Appeal Commission (the "Commission") of Saskatchewan determined that the automobile insurer was estopped from denying benefits to an Insured ("Pipchuk") even though the insured's injuries were not related to an autombile accident. [read post]
25 Jul 2017, 6:02 am
The European Commission has published the draft of a Delegated Regulation under the Insurance Distribution Directive (EU) 2016/97 (IDD). [read post]
23 Jul 2014, 12:40 pm
This article was originally posted on Stock Market Loss Brokers and agents who sell variable insurance products are supposed to comply both with state securities or insurance regulations and with regulations issued by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). [read post]
5 Sep 2012, 1:59 am
“The UK’s financial watchdog will call for a clampdown later on commissions paid for selling insurance, loans and bank accounts. [read post]
6 Jun 2022, 6:56 am
In other words, most agents work on a commission basis. [read post]
16 Mar 2009, 2:41 am
As part of its ongoing review of insurance contract law, the Law Commission has recently published a policy statement on the passing of pre-contract information from consumer to insurer. [read post]
30 Nov 2014, 8:11 am
The Australian Law Reform Commission has released a Final Report on Equality, Capacity and Disability in Commonwealth Laws.It examines how the law treats people with disabilities in areas including: employment, health, social security, banking, insurance, restrictive practices, access to justice, aged care, and anti-discrimination [read post]
14 Mar 2007, 6:46 am
Paquette established dozens of fraudulent insurance policies in order to receive commissions and bonuses, as well as to remain one of the company’s top agents. [read post]
14 Oct 2009, 2:06 am
In this Paper, the Commission invited views upon whether the smallest businesses should be treated like consumers for the purposes of pre-contractual information and unfair terms.The Commission has also announced they are planning a programme of future work for early 2010 which includes: an Issues Paper on damages for late payment an Issues Paper on the insured's post-contractual duty of good faith a Policy Statement on non-disclosure, misrepresentation and… [read post]
3 Dec 2021, 12:37 pm
About L Bonds L Bonds are a type of bond sold by life insurance companies that are supposed to finance the purchase of life insurance policies from policyholders. [read post]
19 Dec 2016, 3:02 pm
As regards co-(re)insurance pools, the Commission considered the IBER to be of limited use and relevance. [read post]
30 Mar 2020, 10:39 am
” Because of those uncertainties and to address “public policy options,” the California Department of Insurance is directing insurers to respond to an “urgent data survey” by providing data in the four categories below regarding Business Interruption Coverage, Civil Authority Coverage, Contingent Business Interruption Coverage, and Supply Chain Coverage: How many policies are covered under each of the coverages identified above? [read post]
5 Jul 2017, 3:07 am
Following the Financial Conduct Authority (FCA) raids on aviation insurance brokers in London, the European Commission, in cooperation with the Irish Competition Authority, carried out raids on 4th July into a number of motor insurance providers in Ireland. [read post]
22 Apr 2021, 8:45 pm
On 21 April 2021, the Single Resolution Board (SRB) published its response to the European Commission’s targeted consultation on the review of the bank crisis management and deposit insurance framework. [read post]
