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Matheson’s Insurance ezine, October 2015
Welcome to the Insurance Group's October ezine
In this ezine we provide you with a brief update of some important legal, regulatory and industry developments over the last quarter which may be of interest to you and your business.
There have been a number of recent developments relating to the Solvency II framework.
There have been a number of recent developments relating to the regulation of insurance undertakings by the Central Bank of Ireland.
There have been a number of recent publications and updates issued by EIOPA.
There has been some progress in relation to the IMD2 Directive in recent months.
The recent decision of the High Court in Michael Murphy v Allianz Plc  IEHC 692 has provided further clarification to the scope of section 62 of the Civil Liability Act 1961 and, in particular, the necessary conditions which must be satisfied for its application.
The Law Reform Commission has published its long-awaited report on consumer insurance contracts, including a draft Consumer Insurance Contracts Bill 2015. The report makes 105 recommendations for reforms to the rules, which date largely from the 18th century.
The General Scheme of the Civil Liability (Amendment) Bill was published in March 2015. It allows a court to provide for index linked annual payments to persons who have suffered catastrophic injuries.
In the Courts Service Annual Report 2014, which was recently published, Chief Justice Susan Denham described last year as a year of demands, challenges and opportunities. Emphasising the ever-changing needs of society as the catalyst for change within the Courts Service, the report reflected a year of significant developments and noteworthy trends.
In the recent case of Earls v Financial Services Ombudsman, the High Court considered whether the Financial Services Ombudsman had erred in law in determining that an insurer was entitled to avoid a home insurance policy for material non-disclosure.
The recent decision of the High Court in White Young Green Environmental (Ireland) Limited v Anne Gethings  IEHC 498 has raised new issues when advising clients on when to make an offer of tender of payment at a late stage in the proceedings and in particular post mediation.
The Defendants in the ongoing Persona litigation have been successful in their recent application to the High Court seeking disclosure of the litigation funding agreement which the Plaintiffs entered into with Harbour Fund III Limited Partnership, a specialist litigation funding company.