Marguerite Sinnott

Oct 15, 2024 | williamfry.com | Ashely Hennessy |Marguerite Sinnott |Eoin Caulfield

Readiness for DORAThe Digital Operational Resilience Act (DORA) will apply with direct effect in all Member States from 17 January 2025. DORA introduces new standards for relevant financial entities as regards the management of cyber security risk and information and communication technology (ICT) risk. The article highlights key elements for (re)insurers and intermediaries, as well as detail on categories of firm that may be exempt from DORA.

Oct 15, 2024 | lexology.com | Marguerite Sinnott |Eoin Caulfield |John O'Connor

Readiness for DORAThe Digital Operational Resilience Act (DORA) will apply with direct effect in all Member States from 17 January 2025. DORA introduces new standards for relevant financial entities as regards the management of cyber security risk and information and communication technology (ICT) risk. The article highlights key elements for (re)insurers and intermediaries, as well as detail on categories of firm that may be exempt from DORA.

Oct 14, 2024 | mondaq.com | Róisín Casey |Marguerite Sinnott |Catherine Carrigy

The Central Bank has also published updated guidance on completing and submitting new authorisation applications. In an encouraging development, the checklist states that the Central Bank will try to accommodate timing considerations of applicants when considering applications. This important new feature of the authorisation application evidences the Central Bank taking recent industry feedback into account and their willingness to align with the needs of the applicant in terms of launch date.

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.

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.