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Insurance and reinsurance weekly briefing: Ukraine aviation claims, ILS advisory moves, FCA protection market study, case law updates, Solvency II reforms and key regulatory dates

Published on: 29 August 2024

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

Insurance & Reinsurance weekly highlights—29 August 2024

In this issue:

  • Ukraine conflict
  • Reinsurance
  • Regulation
  • New and updated content
  • Case trackers
  • Key dates
  • Daily and weekly news alerts
  • LexTalk®Insurance: a Lexis®Nexis community

Ukraine conflict

Aviation claims

Fidelis maintained it was not responsible for settling claims exceeding US$238m linked to aircraft marooned in Russia, asserting that the lessors had not been permanently dispossessed of the planes under the terms of the policies. See News Analysis: Fidelis denies liability for US$238m over stranded planes.

Reinsurance

Insurance-linked securities

The UK terrorism reinsurer confirmed that it has appointed Aon Securities Ltd and Howden Capital Markets as advisers for insurance-linked securities transactions. See News Analysis: UK terrorism reinsurer appoints Howden, Aon as advisers.

Regulation

Consumer protection

The Financial Conduct Authority (FCA) said it will commence a market study into the sale of pure protection insurance in response to concerns that competition is not functioning effectively. The review is due to begin later in 2024/25. It will chiefly examine the sale and distribution of term assurance, critical illness cover, income protection insurance, and whole-of-life insurance, including over-50s policies with guaranteed acceptance. See: LNB News 28/08/2024 4...

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