Regulation and Oversight
Delaware Issues Artificial Intelligence Guidance for Insurers
Delaware Insurance Commissioner Trinidad Navarro issued artificial intelligence (AI) guidance for insurers, aligning with the NAIC Model Bulletin. The bulletin highlights compliance with existing regulations and addresses risks like bias, transparency, and data security. It also reaffirms the state's authority to examine AI systems during market conduct investigations and examinations. Read More
Solvency II: What Captive Insurers Need to Know
The Solvency II amendments introduce key changes for captives, including proportionality adjustments, reduced capital requirements, and streamlined reporting for small and noncomplex undertakings (SNCUs). In this episode, Joel Appelbaum and Alex Gedge discuss the impact of these regulatory updates, their effect on captives, and strategies for adapting to evolving compliance and environmental, social, and governance requirements. Read More
Solvency II and Captive Insurance: Evolving Regulations and Benefits
The revised Solvency II framework introduces proportionality measures and reduced capital requirements for EU captives. By addressing governance, reporting, and risk management, these changes aim to alleviate regulatory burdens while enhancing stability and flexibility. Captives are expected to benefit from tailored regulations that align with their unique risk profiles and operational scope. Read More
Isle of Man Financial Services Authority Opens Consultation on Insurance Regulations 2025
The Isle of Man Financial Services Authority has opened a consultation on the 2025 Insurance Regulations, featuring updates for captive insurers, fully funded insurers, protected cell companies, and sandbox frameworks. Stakeholders are invited to provide feedback on these proposed regulatory changes, which aim to enhance clarity, flexibility, and industry alignment while protecting policyholders and promoting innovation. Read More
UK Government Seeks Input on Captive Insurance Regulation
The United Kingdom is consulting on captive insurance regulation changes, focusing on lowering capital requirements, simplifying compliance, and enhancing competitiveness. Stakeholders can provide input on proposals like using protected cell companies and restrictions on life insurance coverage. Responses are due by February 7, 2025, via HM Treasury's consultation process. Read More