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Jan 23, 2025 | 
williamfry.com | Eoin Caulfield |Ian Murray
In its last quarterly Insurance Newsletter of 2024, the Central Bank of Ireland (Central Bank) provided an update that it has revised its Notification Guidance for (Re)insurance Undertakings when Outsourcing Critical or Important Functions or Activities (CIFA) under Solvency II (Guidance). The existing Guidance had been in place since the advent of Solvency II in 2016.
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Oct 17, 2024 | 
mondaq.com | Ian Murray |Martha Ní Dhochartaigh
WF
William Fry
More
William Fry is a leading full-service Irish law firm with over 310 legal and tax professionals and 460 staff. The firm's client-focused service combines technical excellence with commercial awareness and a practical, constructive approach to business issues. The firm advices leading domestic and international corporations, financial institutions and government organisations.
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Oct 16, 2024 | 
mondaq.com | Eoin Caulfield |Ian Murray
It ranges from firms dealing with customers through digital
channels, often with no direct human interaction, through to
back-end activities with a heavy reliance on technology. Many
insurers and intermediaries also have complex outsourcing and cloud
dimensions.
The Central Bank of Ireland, EIOPA, the European Commission, and
the European Parliament have been active in seeking to understand
the benefits and risks of technology and to regulate
accordingly.
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Oct 16, 2024 | 
lexology.com | Eoin Caulfield |Ian Murray |Martha Ní Dhochartaigh |Conor Beirth
On 31 July 2024, the High Court delivered its judgment in the case of CBL Insurance Europe DAC (In Liquidation) v Insurance Act 1936 [2024] IEHC 484. The judgment deals with a number of important considerations in the winding up of an insurance undertaking, including the treatment of insurance claims and insurance policies during this process.
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Oct 15, 2024 | 
mondaq.com | Eoin Caulfield |Ian Murray
WF
William Fry
More
William Fry is a leading full-service Irish law firm with over 310 legal and tax professionals and 460 staff. The firm's client-focused service combines technical excellence with commercial awareness and a practical, constructive approach to business issues. The firm advices leading domestic and international corporations, financial institutions and government organisations.
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Oct 14, 2024 | 
lexology.com | Marguerite Sinnott |Eoin Caulfield |Ian Murray
Digitalisation and broader innovation themes are growing features in the insurance sector. This is seen across the entire insurance ‘value chain’. It ranges from firms dealing with customers through digital channels, often with no direct human interaction, through to back-end activities with a heavy reliance on technology. Many insurers and intermediaries also have complex outsourcing and cloud dimensions.
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Oct 11, 2024 | 
williamfry.com | Ashely Hennessy |Marguerite Sinnott |Eoin Caulfield |Ian Murray
On 7 March 2024, the Central Bank of Ireland (Central Bank) published its consultation paper (CP 158) on the revised draft Consumer Protection Code (Revised Code) and connected areas. Given the cross-sectoral nature of much of the Revised Code, readers are addressed to William Fry’s broader overview of the regime changes prepared by our Financial Regulation Unit here. In Part 1 of our article, we dealt with some themes affecting the insurance industry.
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Oct 11, 2024 | 
mondaq.com | Eoin Caulfield |Ian Murray
On 7 March 2024, the Central Bank of Ireland (Central
Bank) published its consultation paper (CP 158) on the revised
draft Consumer Protection Code (Revised Code) and connected
areas.
The consultation period closed on 7 June 2024. Feedback on the
consultation and the implementation of the final requirements is
expected during 2025 and 2026. Firms will have one year from
finalisation to put the new processes in place.
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Oct 9, 2024 | 
williamfry.com | Ashely Hennessy |Marguerite Sinnott |Eoin Caulfield |Ian Murray
On 7 March 2024, the Central Bank of Ireland (Central Bank) published its consultation paper (CP 158) on the revised draft Consumer Protection Code (Revised Code) and connected areas. The consultation period closed on 7 June 2024. Feedback on the consultation and the implementation of the final requirements is expected during 2025 and 2026. Firms will have one year from finalisation to put the new processes in place.
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Sep 19, 2024 | 
msn.com | Ian Murray
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