Insurance Update - January 2023

This newsletter is produced by Linklaters’ insurance lawyers and is intended to keep you up to date with current issues in international insurance law, regulation and practice. Please click here to view the edition. The following topics are covered: 

• FSB discontinues annual identification of global systemically important insurers
• IAIS consults on methodology used to calculate individual insurers’ systemic risk scores
• IAIS report on diversity, equity and inclusion in the insurance sector and planned future work
• IAIS publishes 2023-2024 Roadmap
• UK future regulatory framework: The Edinburgh Reforms
• UK PRA sets out supervisory priorities for 2023
• PRA finalises changes in approach to ISPVs
• UK PRA statement on the recalculation of the Transitional Measure on Technical Provisions
• UK FCA consults on protections for insurance customers in financial difficulty
• UK FCA “Dear CEO” letter to life insurers on cost of living  
• FCA proposes rule “clarifications” for UK Consumer Duty
• UK FCA findings from general insurance pricing multi-firm review
• UK: Relaxation of certain product governance rules for GI and pure protection products distributed overseas
• UK: Insurance and pensions regulation – ten things to look out for in 2023
• EIOPA discussion paper on prudential treatment of sustainability risks
• EIOPA launches dashboard on insurance protection gap for natural catastrophes
• EIOPA supervisory statement on inflation
• DORA is published in the Official Journal
• India proposes amendments to the Insurance Act, 1938
• India: Goods and service tax related investigations against insurers
• India: IRDAI notifies various exposure drafts
• Recent deals