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Restatement of European insurance contract law

Edwards Wildman Palmer LLP
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European Union
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September 14 2009

On 11 September 2009 EAPD partner Helen Clark attended a conference hosted by the British Insurance Law Association (BILA) at which members of the Restatement of European Insurance Law Project Group presented the public launch of the Principles of European Insurance Contract Law (PEICL

Revised draft block exemption regulation (BER) for insurance sector - end of consultation period looming

Edwards Wildman Palmer LLP
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European Union
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November 18 2009

As previously reported here, the European Commission (the Commission) published its revised draft BER for the insurance sector on 5 October 2009

Committee of European Securities Regulators publishes its analysis of financial instruments disclosures

Edwards Wildman Palmer LLP
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European Union
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November 17 2009

On 30 October 2009, the European Committee of European Securities Regulators (CESR) published a statement reporting on the results of its analysis of the application of disclosure requirements related to financial instruments in the 2008 financial statements of 96 listed European banks and insurers, including 22 in the FTSE Eurotop index

Revised draft Block Exemption Regulation (BER) for insurance sector

Edwards Wildman Palmer LLP
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European Union
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October 19 2009

On 5 October the European Commission (the Commission) published its revised draft BER for the insurance sector

PERILS AG launches industry loss index service for European windstorm events

Edwards Wildman Palmer LLP
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European Union
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December 8 2009

We have reported previously on the formation of PERILS AG to collect and provide industry-wide European catastrophe insurance data

European Commission pushes ahead with stronger financial supervision in Europe

Edwards Wildman Palmer LLP
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European Union
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October 6 2009

The European Commission announced on 23 September 2009 the adoption of legislative proposals to strengthen financial supervision in Europe in the wake of the global financial crisis

Third set of advice on Solvency II Level 2 implementing measures released

Edwards Wildman Palmer LLP
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European Union
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November 11 2009

On 2 November 2009, the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) released its third set of advice on Solvency II Level 2 implementing measures

European insurers to undergo stress tests in December

Edwards Wildman Palmer LLP
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European Union
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November 12 2009

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has announced that it will run an EU-wide stress test for Europe's largest insurers during December

European ruling on VAT goes against reinsurers

Edwards Wildman Palmer LLP
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European Union
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November 12 2009

The European Court of Justice (ECJ) has recently released its judgment in the case of Swiss Re Germany Holding GmbH v Finanzamt München für Körperschaften, confirming that a transfer of a portfolio of life reinsurance contracts, outside of a business transfer, will be subject to value-added tax (VAT) at the standard rate