The importance of supervisory colleges has been underscored by the various international fora. The IAIS has responded in a timely manner with a guidance paper and is actively following-up to improve further the functioning of supervisory colleges...

Equivalence under Solvency II for Bermuda companies is beneficial for European insurers and policy holders. Bermuda is committed to achieving regulatory equivalence..

An important new dimension of the regulatory environment in banking and insurance is the explicit reliance on market discipline. Expectation: A transparent market will require less overt intervention by regulators (market participants themselves force appropriate behavior)...

An Example of the Steps of Market Development, Assessments Completed, After 2003 the Bank developed an alternative template, Observance of ICPs...

Lloyd's participation in markets takes many different forms. Regulatory treatment encountered varies considerably. Compliance is paramount. Opinions on reasonableness of regimes are not fixed and can evolve over time...

Dual objective of environmental liability (EL): prevention and internalitazion; Prvention: Decreasing number of accidents; Internalization: Increasing number of successful suits/increasing take out of environmental liability insurance...

Strict liabilities prevails at major accidents. According to the Polluter Pays Principle,l it is the liable party who pays for any damage. The accidents may be very large, however, compared to the assets of the liable plant owner. The liable party may, therefore, simply go bankrupt and leave the...

Extreme weather patterns are causing major damage on property and business and the question of who pays is becoming a serious issue. A law and economics point of view focuses on the problem that emitters of greenhouse gases externalize the true costs of their contribution to climate change...

Setting the scene; Ligitation strategies, Ligitation insurance, The European way for collective ligitation...

Entrepreneuroal risk vs. risks related to the pursuit of the entrepreneurship; Clear distinction vs. uncertainties, D&O liability risks(BJR)...