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Overview In August this year, the European Insurance and Occupational Pensions Authority ('EIOPA') published a public consultation ('Consultation') on the new proportionality framework proposed in the Provisional Agreement on amendments [...]

Overview In updating the Consumer Protection Code, the Central Bank of Ireland ('Central Bank') has taken the opportunity to respond to and account for the significant digital transformation of the [...]

Overview As set out in our Initial Observations on the Central Bank of Ireland's Consumer Protection Code Consultation Paper the Central Bank of Ireland ('Central Bank') has proposed a revised [...]

As set out in our Initial Observations on the Central Bank of Ireland's Consumer Protection Code Consultation Paper, the Central Bank of Ireland ('Central Bank') has proposed a revised structure [...]

1. Regulatory 1.1 Which government bodies/agencies regulate insurance (and reinsurance) companies? The Central Bank of Ireland (the 'Central Bank') is responsible for the authorisation of and has primary responsibility for [...]

Executive Summary The Tribunal's Decision in this matter represents a detailed consideration of fundamental procedural and substantive questions regarding the Fitness and Probity process. It sets out the basis for [...]

The last number of years have seen a significant rise in consolidation within the Irish insurance broker market, with 46 deals in this sector having been reported to Merger Market [...]

As evidenced by the European Insurance and Occupational Pensions Authority ('EIOPA') Warning to insurers and banks in the credit protection insurance market and the Central Bank of Ireland's ('Central Bank') [...]

Individual Accountability Framework Series: Part 4 - Management Responsibilities Map Step-Plan In this Part 4 of our ongoing Individual Accountability Framework (IAF) Series, we provide a practical step-plan for regulated [...]

1. Regulatory 1.1 Which government bodies/agencies regulate insurance (and reinsurance) companies? The Central Bank of Ireland (the 'Central Bank') is responsible for the authorisation of and has primary responsibility for [...]

1. Basis of Insurance and Reinsurance Law 1.1 Sources of Insurance and Reinsurance Law Ireland has a common law legal system. The law in relation to insurance contracts is primarily [...]

On 22 February 2023, the Central Bank (Individual Accountability Framework) Bill 2022 was passed by Seanad Eireann (the 'Seanad'). In this insight we discuss the debates at Committee and Report [...]

On 8 February 2023, the Central Bank (Individual Accountability Framework) Bill 2022Opens in new window (the 'Bill') was taken at second stage, Seanad Éireann (the 'Seanad'). The Minister of State [...]

On 30 November, the Committee on Finance, Public Expenditure and Reform, and Taoiseach (the 'Committee') sat to consider the Central Bank (Individual Accountability Framework) Bill 2022 (the 'Bill'). While the [...]

A recent, preliminary ruling of the Court of Justice of the European UnionOpens in new window (the 'ECJ')1, in response to a referral made by the German Federal Court, sheds [...]

Introduction Key to the functioning of the Central Bank of Ireland (the 'Central Bank') is its role as gatekeeper for the consumer. In recent years, we have seen the Central [...]

The Central Bank (Individual Accountability Framework) Bill 2022 ('The Bill') was published in July 2022. At a recent Matheson event held on 1 September 2022, Oliver Gilvarry, Assistant Secretary in [...]

On 31 January 2022, the Central Bank of Ireland (the 'Central Bank') published its final Guidance on the use of Service Companies in the Insurance Sector (the 'Guidance'). The Guidance [...]

1. REGULATORY 1.1 Which government bodies/agencies regulate insurance (and reinsurance) companies? The Central Bank of Ireland (the 'Central Bank') is responsible for the authorisation of, and has primary responsibility for [...]

On 9 April 2021, the Central Bank of Ireland ('Central Bank') published Consultation Paper 140 - a Consultation on Cross Industry Guidance on Operational Resilience ('Consultation Paper'). The Consultation Paper [...]

This month, Darren Maher, Partner and Head of the Financial Institutions Group at Matheson and Member of Matheson's D&I Steering Committee, shared his thoughts on D&I at Matheson with Insurance [...]

Introduction A specialised team, the Wholesale Market Conduct Team, has been established by the Central Bank of Ireland (the 'Central Bank') to carry out wholesale market Conduct Risk ('Conduct Risk') [...]

Introduction The reality of a no-deal Brexit looms large over multiple disciplines, businesses and industries but for insurance intermediaries, registered pursuant to the Insurance Distribution Directive (Directive (EU) 2016/97) (the [...]

The Minimum Competency Code 2017 and the Minimum Competency Regulations 2017 (together the 'Code') replace Minimum Competency Code 2011. The Code has been introduced to incorporate the implementation of the [...]

Introduction In June 2016, the British electorate voted to leave the European Union (the 'EU') by a margin of 52% to 48%. What followed amongst the political fall-out and recriminations [...]

Darren Maher, Head of the Corporate Insurance Group, writes for the Intelligent Insurer Dublin and Ireland Report 2017 on UK-based insurance clients considering alternatives in order to retain their EU [...]

Increased levels of regulation and compliance are the new realities facing financial institutions in the post financial crisis world. This is of course necessary and inevitable to ensure the public [...]

On December 23 2013 the Central Bank published a revised Corporate Governance Code for Credit Institutions and Insurance Undertakings. The revised code comes into effect on January 1 2015 and [...]

Tender offers are a valuable tool for insurers in litigation and have the effect of putting the plaintiff on risk for costs from the date of the tender offer if [...]

A recent English Court of Appeal decision reinforces the principle outlined in South Australia Asset Management Corporation v York Montague ('SAAMCo') that, unless a solicitor's retainer requires that he advise [...]

A recent High Court decision in the UK considered the extent to which a solicitor is entitled to rely on counsel's advices in advising their client. This case will be [...]

FSO Levies and Fees Regulations 2013 The Financial Services Ombudsman Council has published the Central Bank Act 1942 (Financial Services Ombudsman Council) Levies and Fees Regulations 2013 (the 'Regulations'). The [...]

EIOPA publishes ERRATA amending Guidelines on the Submission of Information EIOPA has recently published an ERRATA and an Explanatory text to the ERRATA on Guidelines on the Submission of Information [...]

The Central Bank has published Issue 12 of Solvency II Matters, summarising key Solvency II developments and events over recent months. Some of the main developments include the following: The [...]

Insurance Ireland has published Factfile 2012, part of an annual series which provides key facts and figures on the domestic and international business of insurers based in Ireland. The recently [...]

An Expert Group, set up by the European Commission, has issued a report identifying barriers to cross-border trade in insurance law across EU Member States. The Expert Group, composed of [...]

Central Bank publishes Programme of Themed Reviews and Inspections for 2014 The Central Bank has recently published its planned series of themed reviews and inspections for 2014. The main themes [...]

Introduction The Corporate Governance Code for Credit Institutions and Insurance Undertakings was originally published by the Central Bank of Ireland in November 2010 and became effective on January 1 2011. [...]

Introduction The Corporate Governance Code for Credit Institutions and Insurance Undertakings was originally published by the Central Bank of Ireland in November 2010 and became effective on January 1 2011. [...]