Insurance updates

China

Contributed by AnJie Law Firm
How can foreign-invested insurers apply new CIRC regulation by reference?
  • China
  • 17 April 2018

The China Insurance Regulatory Committee recently promulgated the new Measures for the Administration of Equity in Insurance Companies, which state that if the shareholding proportion of an insurer's foreign shareholders accounts for more than 25% of its registered capital, the relevant provisions of the measures must be applied by reference. This express inclusion of foreign-invested insurers represents a substantial shift away from current practice.


Italy

Contributed by DLA Piper Studio Legale Tributario Associato
Growing weight of regulation on contents of insurance contracts
  • Italy
  • 17 April 2018

In recent years, the attention that IVASS (the Italian insurance regulator) and the EU authorities have paid to the protection and needs of insureds has increased and been translated into market letters (among other initiatives). These market letters aim to encourage insureds to intervene in contracts through the introduction of protective measures or eliminate potentially punitive restrictions, thereby limiting contractual autonomy in various areas.


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