Regulatory Communications - October 2017

Monthly roundup of international regulatory news

Lloyd’s Insurance Company in Brussels: Information now available on Crystal

Lloyd’s is setting-up a new European insurance company, located in Brussels, to ensure the market is able to write risks from all 27 countries in the European Union and three in the European Economic Area after the UK leaves the European Union.  Preliminary information about the Lloyd’s Insurance Company in Brussels is now available on Crystal to members of the Lloyd’s market.

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UK: Application of Insurance Premium Tax rate changes

Given the complexity of recent UK Insurance Premium
Tax (IPT) rate changes, Lloyd’s Tax Department are issuing this reminder to the
market on the transitional arrangements and how these apply.

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Solvency II is under review

Solvency II legislation requires the European Commission to carry out a number of reviews of how particular aspects of Solvency II are working in the next few years. The first of these is a review of the standard formula used to calculate the Solvency Capital Requirement.

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Progress on global capital standards

The article provides an update of the International Association of Insurance Supervisors (IAIS) progress on its proposals for a risk-based global Insurance Capital Standard (ICS).

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Morocco: New trading rights in Casablanca Finance City

Lloyd’s has secured new trading rights and appointed a General Representative in Casablanca Finance City, Morocco.

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US: NAIC Codes - At a glance

This article briefly highlights NAIC procedures for writing business in the US and provides an insight into NAIC codes.

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What's new

Crystal What's New archive

Regulatory market bulletins


Excess prohibited on PI policies for insurance intermediaries, with immediate effect.


EEA insurers must inform customers whether their claim is covered by the Danish guarantee fund. Lloyd's and managing agents will not join as certain Lloyd's policies are covered by the UK FSCS scheme

Europe (Lloyd’s Insurance Company SA)
Brexit information now available on Crystal

New trading rights in Casablanca Finance City (CFC) and Lloyd's General Representative appointed from 1 September

US – Alabama, Colorado, District of Columbia, Michigan, Minnesota, Missouri, Mississippi, Ohio, Tennessee, Washington
New claims handling content

US - Colorado
Disability insurance is exportable to the surplus lines market effective 9 August 2017

US – Florida
Emergency order issued by the Florida Office of Insurance Regulation following Hurricane Irma

US – Illinois
New medical malpractice claims reporting content

New nonrenewal of commercial lines content


US - Maryland
Updated mandatory disclosure notice for short-term medical coverage

US - New Hampshire
Accident and Health exportability to the surplus lines market content updated

US – Texas
Emergency bulletins issued by the Texas Department of Insurance following Hurricane Harvey



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