Lloyd’s welcomes new book on insurance regulation and law

Books, Insurance and Reinsurance — By on February 4, 2012 at 4:57 PM

Lloyd’s, the world’s specialist insurance market, has today welcomed the publication of a significant new addition to the literature on international insurance law and regulation.

“The Research Handbook on International Insurance Law and Regulation” has been published as a resource for policymakers, regulators, academics and lawyers – those with a role to play in developing insurance law and regulation.  It brings together important contributions from leading experts in their field, providing core legal and regulatory material and addressing many of the cutting-edge debates.  Their thoughts and expertise will feed the important discussions about how this industry should be regulated.

With the impact of regulation continuing to be at the forefront of insurers’ minds, and governments across the world in the process of designing new rules to govern financial services, having an understanding of the legal and regulatory environment in the insurance industry has never been more important.

Insurance plays a key role in all economies by allowing businesses to undertake activities that might not have been otherwise possible.  It does this by helping them to mitigate their risks and recover more quickly when disaster strikes. Good regulation can encourage insurers into markets, but bad laws can be deeply damaging.

Many of the most important developments in the insurance arena are happening in the area of regulation – in the EU for instance, Solvency II is the largest overhaul ever undertaken of the insurance regulatory framework.

Lloyd’s has over 320 years of history and over that time it has seen and been part of much of the legal and regulatory change that has taken place.  Lloyd’s has used that experience to make sure this book is as relevant as possible to academics and practitioners actively engaged with international legal and regulatory development.

Kevin Lazarus, Editor of the book and a solicitor at Lloyd’s, said: “Despite its economic importance, insurance is a field that has been underserved as an area of academic study. This book aims to provide much needed coverage of insurance law and regulation in its international context.”

Sean McGovern, Lloyd’s Director, North America and General Counsel, said: “The next few years are undoubtedly going to be key in the development of insurance law and regulation and we need to ensure that the rules that emerge are balanced and proportional – giving policyholders the protection they require, but allowing the industry to thrive. “The right rules can help the industry to achieve this, but the wrong rules will hinder us. To get the right rules you need the best thinking on the subject. Lloyd’s continues to play its part in ensuring that the very best thinking is available to policymakers, regulators and others involved in shaping the future legal and regulatory environment. This book is another important part of that.”

Notes :

1.The book’s editors are Julian Burling, until recently Counsel to Lloyd’s and Kevin Lazarus, a solicitor at Lloyd’s.

2.The book is published by Edward Elgar Publishing Limited in association with Lloyd’s and includes 30 chapters (total 864 pages) from 47 contributors.

3.The book is part of the Research Handbooks in Financial Law Series.  The Series Editor is Professor Rosa Lastra, Queen Mary, University of London, UK

4.Further details of the book can be found at www.lloyds.com/handbook.

For further information readers can contact: Matt Drage Tel: +44 (0)20 7327 6125 Email:  matt.drage@lloyds.com  or Tom Foxton Tel: +44 (0)20 7327 5514 Email:  tom.foxton@lloyds.com

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