Insurance Regulatory

Resilient since the financial crisis, the insurance sector has not escaped the regulator’s tougher, more intrusive stance. Insurers must wrestle with UK reforms such as the new Senior Insurance Managers’ Regime, whilst coping with the operational realities of the Solvency II prudential rules and the rest of the EU agenda. Long-standing concerns face the industry, including those about the role of delegated authorities and the risks in outsourcing. In personal lines, responsibility for product design and governance is a key risk for both intermediaries and insurers.

CMS supports companies with advice on all forms of retail, commercial and wholesale insurance products, as well as life, protection, pensions and investments.

CMS' team of 'highly knowledgeable insurance experts' provides 'good commercial advice, short response times and great value for money'.
Legal 500 UK, 2015

CMS specialists are closely involved with EIOPA and PRA/FCA regulatory developments - including Solvency II and its broader impact on group structures, asset treatment and related transactions. We advise brokers, life offices, general insurers and other market participants (including Lloyd’s) on a broad range of advisory, contentious and transactional assignments. Our advice covers areas such as conflicts of interest, client money, remuneration structures, IDD, products and broader governance issues, a range of insurance issues subject to thematic review by FCA, claims and complaints handling, section 166 Skilled Person appointments, investigations and enforcement.

We also have in-depth expertise on regulation that impacts the assets, investments and balance sheet of insurers, including the regulatory environment for our specialist transactional assignments such as longevity risk transfer and alternative lending.