FCA Business Interruption insurance test case
With the Supreme Court judgement now issued, the pressure is on for insurers to respond quickly to the affected claims.
With the Supreme Court judgement now issued, the pressure is on for insurers to respond quickly to the affected claims.
On 15 September 2020 the High Court handed down its eagerly awaited judgement in the FCA’s business interruption (“BI”) test case.
We provide an update on recent developments affecting financial institutions’ credit capital and provision models with a focus on the EBA IRB Roadmap and Covid-19 relief measures.
As an extension of the Guidelines on legislative and non-legislative moratoria on loan repayment published on 2 April 2020, the EBA issued guidelines to address gaps in reporting data and public information in the context of Covid-19 on 2 June 2020.
What is the purpose of a bank? Does it have a responsibility to society at large, over and above its duties to its shareholders, customers and employees?
As we highlighted in our previous article, the regulatory impact on insurance firms as a result of Covid-19 was just getting started. The Financial Conduct Authority (FCA) must have been in a flurry of activity last week before issuing a number of new publications....
The Financial Conduct Authority (FCA) is scaling back, planned work is being put on hold and the timing of further work on General Insurance (GI) Pricing Practices is under review. However, this doesn’t mean there is a lack of regulatory activity, far from it! The regulatory impact of Covid-19 is just getting started and there’s already a lot to keep track of.
At first glance, regulatory authorities appear to have deprioritised the issue of climate change. However, a closer look would suggest otherwise and climate change in reality remains a key long-term priority of national and European regulators.
With banks no longer the weak link in the financial system, they now have a key role to play in supporting the real economy to survive the crisis caused by the Covid-19 pandemic. The significant strengthening of prudential regulation over the past decade since the 2008 financial crisis has enabled banking institutions to post solid levels of capital and liquidity, putting them in a strong position...
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