A lot has happened since the last Future Insurer newsletter!
The Future Insurer team has recently been on assignment in Zurich and London (photos below) for a global Insurance Strategy Week at Norton Rose Fulbright. We’re also about to head into a federal election in Australia, Digital Asset Platform regulation in the spotlight, there is shipping InsurTech news, and some long insurance law judgments have been handed down.
If you’re new here, welcome! 👋 This fortnightly newsletter highlights the most intriguing #insurtech and #insurance developments from the past two weeks. Be sure to hit subscribe to stay updated!
Now, let’s dive into this edition’s top picks…
In this edition’s news:
⚡ Digital Asset Industry Regulation
The Australian Government has released a Statement on Digital Asset Industry Regulation, intending to regulate Digital Asset Platforms (DAPs), which are online platforms that hold digital assets, such as crypto, for consumers. It also explores the creation of a framework for payment stablecoins and a better regulatory sandbox. But with Australia heading into an election next month, we’ll have to wait and see what happens now!
🔙 Prior Known Circumstances Exclusions…are they a thing of the past?
Claims made policies commonly contain prior known circumstances exclusions, but a recent Federal Court of Australia decision has found they may be void under Australian insurance legislation. What does this mean? Check out this case note.
🚀Allianz boosts fund to 1bn EUR
Allianz has boosted its digital investment fund to a €1 billion as it looks for digital companies related to insurance and asset management. Allianz X has so far invested in over 20 ventures including notably NEXT Insurance.
🚢Cover Genius joins forces with Ship Station
Cover Genius has launched insurance offerings to the Ship Station’s merchant customers in the UK, Canada and Australia, protecting merchants against loss, damage and item re-shipment. It follows a number of other InsurTechs and alternative risk transfer structures commonly addressing these risks.
📷Future Insurer has been taking over the world
Here are some pics from Future Insurer’s recent assignment to Zurich and London!
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Tim Chan is an insurance & insurtech lawyer at global law firm Norton Rose Fulbright and Founder of The InsurTech Lawyer blog. He regularly advises insurers and startups on emerging legal issues affecting the industry. Follow Tim on Twitter: @timinsydney
Disclaimer: This newsletter provides general information only and does not constitute legal, financial, or other professional advice. It does not address the circumstances of any particular individual or entity. You should seek your own professional advice.
