Insurers & regulation
Insurers & regulation
Insurers operate in an intensive and diverse arena. Although laws and regulations are subject to continuous change, the rules are not just formal. Given their responsibility to society, insurers are also expected to render account to the general public, while at the same time entering into long-term commitments with their clients and business partners. This can cause parties to clash, and they often do.
Our roots lie in the insurance industry. Like no other firm we are familiar with the field of tension faced by insurers. many years of experiences have taught us the ins and outs of insurance as well as financial regulatory law.
We help insurers draft durable and solid contracts, advising them on the design of distribution channels and outsourcing issues. And of course we have experience litigating about any conceivable type of insurance.
We also resolve issues that originated in the distant past, or were caused by conflicts between historical commitments with new regulations. Our team is well-versed in this so-called legacy practice. Examples are the large variety of products and ICT systems used in the past that call for product rationalisation, or upwards or downwards adjustments to the portfolio.
We have extensive experience with formal and informal enforcement processes of DNB and AFM. And we know how rehabilitation programs or change processes work at insurers and how they have to render account, internally and externally.
Insurers are often between a rock and a hard place: between their obligations under regulatory law and their clients’ claims under civil law. Exactly the place where we feel at home and can add value.
Recently we have:
- represented a pension insurer in an action against pensions advisors about rights to commission;
- counselled a reinsurer on the collaboration with an English life insurer;
- advised a non-life insurer on the revocation of an broker’s portfolio;
- represented a life insurer in proceedings about compliance with the Money Laundering and Terrorist Financing (Prevention) Act;
- represented a life insurer and a mortgage lender in a dispute with a service provider;
- counselled a mortgage provider on reversal after errors made in the implementation of the MC;
- advised a life insurer on implementation issues regarding Packaged Retail and Insurance-Based Investment Products (PRIIPs);
- litigated in a wide variety of policy disputes.
Our team for this expertise:
