Let me begin by congratulating you on ten years of the Principles for Sustainable Insurance Initiative, or PSI. This, the largest collaboration between the United Nations and the insurance industry, is incredibly important.
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Recent regulatory developments of interest to insurers and their intermediaries. See also our General regulatory news in the Related Materials links.
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How competitive are UK insurance markets? Bank Underground article
TCFD recommendations: UNEP FI pilot report and guidance for insurers
COVID-19: Supreme Court judgment in FCA s BI insurance test case
On 15 January 2021, the Supreme Court handed down judgment in FCA v Arch Insurance (UK) Ltd and others [2021] UKSC 1 on the issues on appeal from the High Court in the test case brought by the FCA seeking legal clarity on the meaning and effect of certain non-damage business interruption (BI) insurance policy wordings. The FCA has published a press release and updated its dedicated webpage on the test case to summarise the key aspects of the judgment and outline the next steps.