Insurance & Professional Risks Annual Review 2025 Published

The Strait of Hormuz has become a critical flashpoint for global maritime trade following the outbreak of hostilities involving Iran in 2026. With approximately one-fifth of global oil trade passing through this vital waterway, commercial shipping now operates under unprecedented security threats including missile attacks, drone strikes, and mine risks. Marine insurance premiums have skyrocketed from 0.125% to as high as 10% of vessel values, fundamentally altering the economics of Gulf trade and forcing th

The UK's Financial Conduct Authority and Prudential Regulation Authority have unveiled Stage 1 of a new tailored regulatory framework for insurance captives, designed to be proportionate, competitive, and reflective of captives' lower risk profiles. With consultations closing in October 2026 and implementation targeted for mid-2027, the regime promises streamlined authorisation, bespoke capital requirements, and simplified supervision—but will it be enough to compete with established offshore jurisdic

Allegations of fraud against directors or officers frequently give rise to coverage issues under D&O insurance, particularly if insurers perceive that if the fraud allegations were true...

Swedish Insurtech Lassie has launched in the UK with a revolutionary pet insurance model that combines AI-powered claims processing, gamified health rewards, and personalized pet care guidance through a single app. The platform promises to settle claims in just six minutes and offers a prevention-first approach that could fundamentally reshape the traditional pet insurance market. With over 20 million UK pets currently uninsured, Lassie's innovative approach may finally bridge the gap between pet owners and

The offshore wind industry faces unprecedented insurance challenges as it scales rapidly to meet global energy demands. With subsea cable failures, design defects, and evolving technologies creating complex coverage issues, insurers and wind farm operators must navigate LEG exclusions, series loss clauses, and contingent business interruption claims. How can the insurance market balance risk limitation with the viability of this critical renewable energy sector?

UK motor insurers paid a record £3.2 billion in claims during Q2 2026, marking a 7% year-on-year increase as average claims reached £4,900. While Advanced Driver Assistance Systems reduce collision frequency, sophisticated vehicle technology is driving repair costs significantly higher, creating profitability challenges for insurers navigating the transition to autonomous vehicles.

In a landmark ruling, the English Commercial Court has determined that insurers must continue advancing defence costs under D&O policies even when fraud allegations are pending, provided a non-avoidance clause is present. The decision addresses whether such clauses violate public policy and establishes that insurers cannot withhold coverage until fraud is either admitted or proven by final court decision.

Having begun market beta-testing of its reinsurance blockchain prototype at the Monte Carlo Rendezvous last month, the Blockchain Industry Initiative, B3i, has grown the number of participants...

The FCA has published its final report on the distribution of pure protection products, examining firms' fair value assessments under the Consumer Duty and PROD 4. The regulator found significant gaps in how insurers and intermediaries evidence their fair value conclusions, particularly around commission structures and guaranteed acceptance over 50s products, signaling that supervisory action will follow for firms with weak frameworks.

When can insurers' claims handlers' correspondence and documents be disclosed in English arbitration or court proceedings? This article examines the boundaries of Legal Professional Privilege and explores the circumstances under which materials produced by P&I Club and H&M claims handlers may be subject to disclosure obligations, even when the insurer is not a party to the proceedings.

As a result of operational constraints related to the enhanced social media vetting of H-1B and H-4 visa applicants that will go into effect on December 15, 2025, U.S. consulates in India have begun automatically...

On January 12, 2026, President Trump announced via Truth Social: "[e]ffective immediately, any Country doing business with the Islamic Republic of Iran will pay...

On September 18, 2026, President Donald Trump signed into law the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 (Act), a significant package of sanctions, trade restrictions and related measures...

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) today issued Russia-related General License 135 (GL 135), “Authorizing Transactions Related to the Sale, Delivery...

The U.S. Department of Homeland Security published a final rule that will shift the H-1B cap registration selection process from a random lottery to a weighted selection process...

China has a VAT rebate system that reduces the 13% domestic value-added tax (VAT) on certain exported goods.

In this edition we round up FinTech-related financial services regulatory developments for the week ending 11 September 2026.

On August 18, 2026, the Securities and Exchange Commission (SEC or Commission) released its first regulation proposal addressing crypto assets, appropriately titled Regulation Crypto Assets...

SIAC Annual Report 2025: Key Statistics, Trends, and Takeaways for International Arbitration Practitioners

Shareholder derivative action, unfair competition claims and challenges to validity of HKIAC arbitration agreements, some brought against affiliates of contractual party, held to be vexatious, abusive and oppressive.