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United Kingdom

UK insurance and reinsurance: FCA fair value scrutiny, aviation and marine claims, case law tracker and Solvency II timelines—weekly highlights, 22 August 2024

Published on: 22 August 2024

Published by a LexisNexis Insurance & Reinsurance expert
Legal News
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Article summary

In this issue:

  • Ukraine conflict
  • Types of insurance
  • Regulation
  • Case trackers
  • Key dates
  • Daily and weekly news alerts
  • LexTalk®Insurance: a Lexis®Nexis community

Ukraine conflict

Aviation claims

Two insurers maintain they are not obliged to settle claims exceeding US$790m for aircraft stranded in Russia, asserting the planes have not been “lost” to their lessors under the policy terms. See News Analysis: Insurers deny liability over US$790m stranded aircraft claims.

Types of insurance

Marine insurance

Broker Marsh has unveiled a US$50m product to protect against losses from port blockages, following disruption triggered by the Francis Scott Key Bridge collapse in Baltimore. See News Analysis: Marsh launches US$50m insurance after Baltimore bridge crash.

Warranty and indemnity

M&A involving UK insurance agencies is on course to reach 150 transactions in 2024, despite a softer first half, according to a consultancy. See News Analysis: UK insurance M&A on track for 150 deals in 2024.

Regulation

Consumer protection

The Financial Conduct Authority (FCA) is urging insurers to evidence that their offerings provide fair value...

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