This is our regular update of new insurance regulatory developments relevant to the Asia-Pacific* and India, new insurance-related case law in Hong Kong, Australia and England and interesting insurance articles from across the world.
Insurance regulatory updates
Hong Kong
Compliance with CPD Requirements under the New Regulatory Regime for Insurance Intermediaries – One-off Extension of CPD Fufillment Deadline by 3 Months (Insurers)
Compliance with CPD Requirements under the New Regulatory Regime for Insurance Intermediaries – One-off Extension of CPD Fufillment Deadline by 3 Months (Insurance Broker Companies)
Malaysia
Regulatory Framework for Digital Banks
India
IRDAI releases comprehensive journal on policyholder protection
Australia
Insurance cases
Hall v Saunders Law Ltd & Ors [2020] EWHC 404 (Comm)
English High Court – 27 February 2020
Litigation funding – duty of solicitors to funder – The court held, on a strike out application, that is was not arguable that the solicitor acting owed a contractual duty to a litigation funder (in addition to the litigant) to warn it of reduced prospects of success in an aribtration enforcement action. Similarly, the absence of a contractual duty precluded any parallel tortious or fiduciary duty arising. Insurance articles / news
India allows 100% FDI for insurance intermediaries
Same-sex partners can be insurance beneficiaries – Philippines regulator
Aviva sells entire stake in Indonesian joint venture
Tulloch buoyant as Asia helps Aviva to record year
Coronavirus to inflict US$320 billion in trade losses each quarter – Allianz
Hong Kong’s AMTD to IPO broking and digital arm: report
Australian banks receive DDoS threats
AIG rings APAC CEO changes under Duperreault
Allianz’s property/casualty writings boom in Asia Pacific
Insurance firms tap into big data for new products
Asian insurtechs raised over $3b in 121 deals since 2015
*Hong Kong, Singapore, China, Malaysia, Vietnam, Thailand and Australia.