FCA Mills Review Warns AI Insurance Pricing Risks Opaque Value
FCA Mills Review warns AI-driven personalisation risks opaque insurance pricing, eroding fair value under the FCA's Consumer Duty price tests.
Topic
Compliance
Oklahoma AG Sues Allstate Over Alleged Storm Claims Underpayment Scheme
Oklahoma's Allstate claims lawsuit accuses the insurer of a scheme to underpay wind and hail claims, following a similar suit against State Farm.
UK’s Critical Third Parties Regime Goes Live With AWS, Google, Microsoft, Oracle
Critical Third Parties oversight starts 13 July 2026, as UK regulators name AWS, Google, Microsoft and Oracle as designated cloud providers.
Nigeria Enforces N10bn-N35bn Insurer Capital Floors by July 30
Nigeria insurance recapitalisation nears its climax as NAICOM enforces N10bn-N35bn capital floors before the fixed 30 July 2026 statutory deadline.
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EIOPA IRRD rulebook: seven guidelines and RTS plus two valuation consultations set the operating detail insurers must meet before January 2027.
APRA Reinsurance Framework Overhaul Keeps Approval Power for Complex Covers
APRA reinsurance framework changes take effect 1 January 2027, easing cat bond access while keeping approval power over parametric and ILW covers.
War Exclusion Holds: Insurers Escape EUR 580M Nord Stream Claim
Nord Stream war exclusion upheld: London's Commercial Court blocks insurers' EUR 580M sabotage claim, lowering the causation bar for war exclusions.
Allianz Risk Transfer Switzerland: ART AG Quits Liechtenstein for FINMA
Allianz Risk Transfer Switzerland: ART AG converts its Zurich branch into HQ, trading Liechtenstein's EEA passport for direct FINMA oversight.
FSCA’s 2026 Three-Year Plan Redraws Compliance Priorities
FSCA regulation plan 2026 turns AI governance, 72% life-sector concentration and Two-Pot fee scrutiny into enforceable priorities for SA insurers.
AI-Set Insurance Prices Win Over Only 34% of Europeans
Only 34% of Europeans trust AI-set insurance prices; EIOPA's high-risk AI rules and FCA fair-value precedent show what closes that gap.