How insurers, and indeed regulators, react to this period of volatility is expected to remain a key area of focus for the duration of 2022 and beyond.
But the current economic situation should not distract from the increasing regulatory expectations around climate, intra-group and outsourcing governance arrangements, and conduct risk. The Mazars Insurance regulation newsletter provides a flavour of the latest developments that insurers should be aware of.
Our newsletter covers important updates from the CBI and EIOPA plus all the latest developments across the industry, including:
COP, short for Conference of the Parties, refers to a series of official gatherings where governments evaluate global progress in implementing the Paris Agreement and the Convention, with the aim of limiting global warming to 1.5°C based on the most recent scientific findings. During COP meetings, leaders from around the world come together to assess advancements and negotiate effective strategies...
The Central Bank of Ireland (CBI) released its Flood Protection Gap Report on 14 October 2024, shedding light on the extent of Ireland's flood insurance coverage gaps. The report examines both the current and future risks posed by inadequate flood protection, which affects some homes and businesses across the country.
Under EU Regulation 2023/1114, Markets in Crypto Assets Regulation (MiCAR) issuers of asset-reference tokens (ARTs) and electronic money tokens (EMTs) must create a redemption plan to ensure orderly token redemption if a competent authority determines the issuer may fail to meet payment obligations.
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The requirements are set out in the Central Bank of Ireland’s Domestic Actuarial Regime, which became effective on 1st January 2016.
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