A monthly round-up of Lloyd's international regulatory news
Lloyds

Regulatory communications - August 2017

Monthly round-up of Lloyd's international regulatory news

The Sharing Economy: Regulatory implications for the insurance industry

This article provides an overview of the emerging regulatory implications and insurance opportunities arising out of the rapid development of the sharing economy.

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Uruguay: Onshore reinsurance coverholders permitted

The local regulator has confirmed that onshore coverholders may be appointed to bind reinsurance business in Uruguay.

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Update to Canadian “direct assured” tax report form

The “direct assured” tax form used to report Canadian business subject to Canadian Excise Tax has been updated.

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Changes to the Australian Terrorism Insurance Act 2003

Following the 2015 Triennial Review, a number of changes have been made to the Australian Terrorism Insurance Act (ATIA) and its regulations whilst changes to the Australian Reinsurance Pool Corporation (ARPC) Scheme have also been implemented.  These changes, highlighted in previous regulatory communications and outlined below, became effective on 1 July 2017.

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Crystal Assist tutorial re-accredited by Chartered Insurance Institute

Crystal Assist, an online tutorial created by Lloyd’s to help market participants understand regulation and taxation in the Lloyd’s insurance market, recently renewed its Chartered Insurance Institute (“CII”) Continuing Professional Development (“CPD”) Accreditation until 15 June 2018.

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Your views needed on the Lloyd's website

We would like to invite you to take part in our website user-testing as part of our review of the navigation and structure of Lloyds.com

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What's new

Crystal What's New archive

Regulatory market bulletins

Crystal What's New report


Australia

Bloodstock and certain agricultural risks are now exempt from Victoria Stamp Duty with effect from 1 July 2017

 

Canada

With immediate effect, Canadian Excise Tax must be reported to Lloyd’s using the updated “direct assured” tax form, C-FET01

 

Denmark
New complaints notice – LSW1875

Insurers must provide information about protection from guarantee funds

 

Israel

New procedure for the approval of commercial policy wordings used by coverholders and OMCs in Israel

 

Uruguay

Onshore coverholders are allowed for reinsurance business only

 

US Alabama
New commercial lines and homeowners’ policies mid-term cancellation content

New commercial lines and homeowners’ policies non-renewal content

 

 

US – Alaska, Arizona, Florida, Indiana, Louisiana, Maine

New homeowners’ policies mid-term cancellation content

US – Arizona

New homeowners’ polices non-renewal content

 

US – Arkansas, California, Colorado, District of Columbia, Georgia, Idaho, Illinois, Kentucky
New homeowners’ policies mid-term cancellation content

New homeowners’ policies non-renewal content

 

US – Florida

Updated content for non-renewal of homeowners’ policies

 

Lloyd's International Trading Advice


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