Insurance Archives : Financial Institutions Hub

Podcast

FInsight: The Year Ahead – FI Trends in the Global Disputes Landscape 2023

March 31, 2023 By Baker McKenzie 2 Mins Read

Financial institutions (FIs) continue to expect cybersecurity and data disputes in the coming year, along with ESG disputes. We will see growth in climate-related litigation against financial institutions from NGOs and activist shareholders. Until recently, claims have focused on the disclosure of climate-related information. However, the trend is now moving to scrutiny of what prudent financial management means. For example, what fiduciary duties are owed when acting as a financial advisor in investment planning or M&A transactions?

Legal Update

China: Interpretation of New Administration Rules for Insurance Asset Management Companies

August 31, 2022 By Martin C.W. Tam and Ada Hu 2 Mins Read

The China Banking and Insurance Regulatory Commission (CBIRC) issued the Rules on Insurance Asset Management Company (New Rules) after extensive consultation on 05 April 2022. These will come into force on 01 September 2022.

Publication

Finding Balance: The Post-COVID Landscape for Financial Institutions — Reflections

April 12, 2022 By Jonathan Peddie and Richard Powell 7 Mins Read

Our series, Finding Balance, maps the environment financial institutions must navigate to thrive in the post-pandemic global market. Starting in 2020 and finishing this year, we looked across our subsectors — at banking and insurance, financial sponsors, as well as financial infrastructure and payment providers — and re-evaluated the potential impact of the major global drivers of change in financial services such as ESG and digital transformation. The series also considers the risks to and pressures on financial institutions presented by increasing corporate indebtedness, the rise of alternative finance, and increasing regulatory scrutiny originating from the 2008 financial crisis.

Legal Update

Adding another Wrinkle to Controlled Foreign Company – New Legislation Impacts Offshore Trust or Insurance Structure in Taiwan

November 4, 2021 By Peggy Chiu, Michael Wong and Scott Chang 2 Mins Read

The amended Income Tax Act (Amendment), which stipulates new “see-through” rules on the taxation of Taiwan real estate, has come into effect on 01 July 2021 and retrospectively applied on real estate acquired after 01 January 2016.

Legal Update

The UK Supreme Court’s Judgment in the Business Interruption Insurance Test Case

February 3, 2021 By Baker McKenzie 1 Min Read

The UK Supreme Court has handed down judgment in the Financial Conduct Authority’s COVID-19 Business Interruption test case, providing much-needed clarity regarding the coverage generally afforded to businesses for their COVID-19 related financial losses.

Infographic

In Utmost Good Faith? Insurance, Artificial Intelligence and the Issue of Ethics

November 16, 2020 By Euromoney Thought Leadership Consulting 1 Min Read

In Utmost Good Faith? is a new infographic created by Euromoney Thought Leadership Consulting and commissioned by Baker McKenzie, outlining opportunities and ethical considerations for AI in the Insurance sector. As AI gains ground in the sector, it is critical to understand ethical considerations, which would help market players navigate the potential increase in regulatory scrutiny.