Insurance Regulatory Watch – November 2021
Our Insurance Regulatory Watch for November 2021 is now available.
Our Watch provides you a clear and simple overview of the latest regulatory developments and publications in the insurance sector, in the domains of Regulatory Change & Compliance, Sustainability, Risk Culture & Governance and Financial Crime at the international, European and Belgian level.
Any questions or comments, or interested in a discussion on any of these topics, just get in touch!
- Regulatory Change & Compliance
- Risk Culture & Governance
- Financial Crime
Regulatory Change & Compliance
Focus areas : Brexit - Consumer protection – PRIIPs – Regulatory Outlook
- EIOPA sets out a framework for delivering better value for money of unit-linked insurance products
- European Commission updates the Questions & Answers on the Insurance Distribution Directive
- IAIS Application Paper on Supervisory Colleges
- IAIS 2021 Global Insurance Market Report (GIMAR)
Focus areas: impact of sustainable finance on insurance
- EIOPA commits to support the insurance and pensions sectors’ efforts to tackle climate change
- At COP 26, the Glasgow Financial Alliance for Net Zero (GFANZ) committed over $130 trillion of private capital to transforming the economy to net zero
- IFRS Foundation announces International Sustainability Standards Board (ISSB)
- FSMA Chairman welcomes the International Sustainability Standards Board
- European Commission defers the date of application of the delegated acts of the SFDR to January 1st, 2023
Risk Culture & Governance
Focus areas: Business continuity / operational resilience – COVID – Culture - Governance & risk management - Open insurance – Outsourcing - Solvency II - Information and Communication Technology - Technology / Data / Innovation
- FSB's 2021 Progress Report on the effective Implementation of its Principles for Sound Compensation Practices and Implementation Standards
- EIOPA's Report on the use of capital add-ons during 2020
- IAIS issues paper on Insurer Culture
- IAIS issues statement on the importance of Diversity Equity & Inclusion considerations in insurance supervision
Focus areas: AML/CFT - Financial Crime - Fraud
- IAIS Application Paper on Combating Money Laundering and Terrorism Financing
- FATF 2020-2021 Annual Report
- European Council's adoption of its negotiating mandate on the proposal to extend the scope of rules on information accompanying transfers of funds to apply to certain crypto assets
The Ensur Insurance Regulatory Watch is not intended to serve as legal advice and is provided for informational purposes only. It is not intended to form the basis of any decisions and you should not rely on its content for any purposes whatsoever.