←All the glossaryGlossary
Law & regulation
The texts and authorities that frame the industry: Solvency II, DORA, GDPR, the European AI Act, national and European supervisors, and the liability concepts attached to them.
302 terms1954 Hague Convention (cultural property in armed conflict)1970 UNESCO Convention (illicit trafficking of cultural property)1995 UNIDROIT Convention (stolen or illegally exported cultural objects)72-hour prior complaint requirement (France, LOPMI)Act of state doctrineActuarial functionAfCFTA (African Continental Free Trade Area)AI Act risk tiersAI Liability DirectiveAleatory contractAncillary own funds (Solvency II)ANSSI (French National Cybersecurity Agency)Anti-concurrent causation clauseArtist's resale rightAsset freezeBallast Water Management Convention (BWM)Basel Committee on Banking Supervision (BCBS)Bermuda Monetary Authority (BMA)Best efforts obligation (Article 8a of Regulation 833/2014)Bilateral investment treatyBiometric dataBurden of proof of an exclusionBusiness judgment ruleCAATSACancellation period (right of withdrawal)Capital add-onCCJA (Common Court of Justice and Arbitration)CCPA (California Consumer Privacy Act)CEMAC (Central African Economic and Monetary Community)CEMAC foreign exchange regulationsCentral Pricing Bureau (BCT, France)Certification of an act of terrorism (TRIA)Channeling of liabilityChatel law (notice of automatic renewal)Classification of ICT-related incidents (DORA)CLOUD Act (2018)CNIL (French data protection authority)Colorado SB21-169 (unfair discrimination through data and algorithms)ComFrameCommon High Priority ListCommunication of a personal data breach to data subjects (GDPR Article 34)Compulsory medical liability insurance (France, Kouchner law)Compulsory professional indemnityCondition precedentConduct exclusionConformity assessment (AI Act)Contra proferentemContract boundary (Solvency II)Corporate officerCouncil Regulation (EU) No 269/2014Council Regulation (EU) No 833/2014Countermeasures and retorsion in cyberspaceCrop insurance premium subsidy (EU CAP)Cultural goods export licenseCultural property looted by the Nazis (1933-1945)Cyber Incident Reporting for Critical Infrastructure Act (CIRCIA)Cyber Resilience ActCyber Security and Resilience Bill (UK)Cyber war exclusion (LMA 5564-5567, Y5381)Cybermalveillance.gouv.fr (French public cyber assistance platform)Data breach notification (72 hours)Data brokerData minimizationDe facto directorDelisting from an EU sanctions listDenied Persons List (BIS)Derivative action (ut singuli)Development-risk defenseDirect physical lossDisparate impactDORA (Digital Operational Resilience Act)DORA major incident reporting deadlinesDORA register of informationDownstream deployer liabilityDual-use export controlsDuty to adviseEconomic sanctions and the art marketECOWAS (Economic Community of West African States)EDPB Guidelines 9/2022 on personal data breach notificationeIDAS (electronic identification and trust services)EIOPA guidelinesEIOPA IORP stress testEIOPA Opinion on AI governance and risk managementEmployer's inexcusable fault (France)Employer's unilateral decision (France, DUE)Energy Charter TreatyENISA (EU Agency for Cybersecurity)Environmental liability and ecological damageESG criteriaEssential entity / important entity (NIS2)EU AI ActEU Anti-Coercion InstrumentEU Anti-Money Laundering Authority (AMLA)EU Blocking StatuteEU Consolidated Financial Sanctions ListEU cyber diplomacy toolboxEU cyber sanctions regimeEU Cyber Solidarity ActEU Cybersecurity ActEU Data ActEU Directive on violation of restrictive measures (2024)EU ETS for shipping and FuelEU MaritimeEU Representative Actions DirectiveEU Retail Investment StrategyEuropean Insurance and Occupational Pensions Authority (EIOPA)European oversight of critical technology providersExecutive Order 14024FAPDS (French guarantee fund for losses from prevention, diagnosis or care)Fault separable from corporate dutiesFCPA and the Sapin 2 law (anti-corruption)FIDA proposal (financial data access)Fiduciary duty in cybersecurityFinal adjudicationFinancial Conduct Authority (FCA)Financial guarantee for regulated professions (France)Financial Stability Board (FSB)Fit and proper requirementsFlorida insurance and tort reforms (2022-2023)Force majeureForeign investment screeningFrench Military Programming Law (cyber provisions)French National Asset Freeze RegisterFrench Natural Disaster Compensation Act of December 28, 2021French Prudential Supervision and Resolution Authority (ACPR)Fundamental Review of the Trading Book (FRTB)Fundamental rights impact assessment (FRIA)GDPR (General Data Protection Regulation)GDPR compensation for damage (article 82)General license (sanctions)German Federal Financial Supervisory Authority (BaFin)German offshore grid connection compensation (Section 17e EnWG)Global systemically important insurer (G-SII)Government indemnity for exhibitionsGreenhushingGreenwashingGroup supervisionGuarantee Fund for Compulsory Damage Insurance (FGAO, France)Guarantee Fund for Victims of Terrorism and Other Offenses (FGTI, France)Helms-Burton ActHigh-risk systemHIPAA (US health data law)Hong Kong Convention on Ship RecyclingHuman rights sanctions regimes (Magnitsky)ICO (Information Commissioner's Office, United Kingdom)ICSID (investor-state arbitration)IFED (Insurance Fraud Enforcement Department)Immunity from seizure for loaned artworksIMO 2020 sulfur capImplementing Regulation (EU) 2024/2690Income stabilization tool (IST)Insurability of regulatory finesInsurance Act 2015 (United Kingdom)Insurance Capital Standard (ICS)Insurance distribution (French Insurance Code, article L. 511-1)Insurance Distribution DirectiveInsurance fraud as a criminal offense (escroquerie)Insurance ombudsman (France)Insurance product information document (IPID)Insurance Recovery and Resolution DirectiveIntentional and fraudulent misconduct (French insurance law)International Association of Insurance Supervisors (IAIS)International Emergency Economic Powers Act (IEEPA)International Health Regulations and PHEICInternational Regulations for Preventing Collisions at Sea (COLREG 1972)IORP II Directive (occupational pensions)ISO 27001 / NIST CSFIvory and protected species (CITES)Key functionsLamfalussy processLiability for asset shortfallLimitation of liabilityLimitation of liability clauseLoi Résilience (French Resilience Act)Major incident reportingMandatory ransom payment reportingMandatory terrorism cover in France (Article L. 126-2 of the Insurance Code)Manifestly excessive premiums (French life insurance)Market Bulletin Y5258 (affirmative cyber, 2019)Market Bulletin Y5381 (state backed cyber-attack exclusions)MARPOL ConventionMinimum Capital Requirement (MCR)MismanagementMonetary Authority of Singapore (MAS)Money launderingMoney laundering through the art marketMutual insurance group company (France, SGAM)NAIC Insurance Data Security Model LawNAIC Model Bulletin on the Use of AI Systems by InsurersNational Association of Insurance Commissioners (NAIC)National treasure (classification)National Vaccine Injury Compensation Program (VICP)NATO Article 5 and cyberattacksNatural catastrophe risk factors (standard formula)Neural dataNIS2 DirectiveNIS2 early warning (24 hours)NIS2 final incident report (one month)NIS2 incident notification (72 hours)No-claims clause (Article 11 of Regulation 833/2014)No-Russia clause (Article 12g)NYDFS Cybersecurity Regulation (23 NYCRR Part 500)OFAC 50 Percent RuleOFAC Voluntary Self-DisclosureOffice of Financial Sanctions Implementation (OFSI)OHADA (Organization for the Harmonization of Business Law in Africa)OHADA uniform actsOnboardingONIAM (French national office for medical accident compensation)ORIAS (French register of insurance intermediaries)OTSI (Office of Trade Sanctions Implementation)Outsourcing of critical functionsOwnership and control (EU sanctions)Pan American World Airways v. Aetna Casualty & Surety (1974)Pan-European Personal Pension Product (PEPP)PASSI qualification (French certified security auditors)Personal data breach register (GDPR Article 33(5))Polar Code (ships in polar waters)Post-market monitoring (AI)Pre-claim inquiry coverPREP Act (countermeasure immunity, United States)Presumption of defectivenessPRIIP categories (Annex II, categories 1 to 4)PRIIPsPRIIPs methodology (Delegated Regulation (EU) 2017/653)PRIIPs performance scenariosProcessor breach notification duty (GDPR Article 33(2))Product liabilityProduct oversight and governanceProfiling (GDPR)Prohibited AI practicesProportionality principleProvenance researchProximate causePrudent person principleQuantitative reporting templatesRansom payment banRansomware payments and OFAC sanctions riskReconciliation reserve (Solvency II)Reduction in yield (RIY) and PRIIPs cost tablesRegulation (EU) No 267/2012 (Iran restrictive measures)Regulatory and implementing technical standards (RTS, ITS)Restitution of colonial-era cultural propertyRevised Product Liability DirectiveRight not to be subject to automated decision-making (GDPR)Right to be forgottenRiot Compensation Act 2016 (United Kingdom)Risk-mitigation techniques (Solvency II)Sanctions designation of ransomware groupsSanctions exclusion clause (LMA 3100)Sanctions screeningSchedule F (ceded reinsurance, United States)SDN List (OFAC)SEC cybersecurity incident disclosure ruleSecondary sanctionsSectoral sanctionsSecurities class actionSignificant incident (NIS2)SOLAS Convention (Safety of Life at Sea)Solvency and Financial Condition ReportSolvency I (solvency margin regime)Solvency IISolvency II reviewSolvency II three pillarsSolvency ratio (SCR coverage ratio)Solvency UK (UK prudential regime for insurers)Sovereign immunitySR 11-7 (model risk management guidance)SRA Minimum Terms and ConditionsStabilization clauseStandard of careState due diligence in cyberspaceState liability for damage caused by gatherings (Article L. 211-10 of the French Internal Security Code)Strict liabilitySubstantial modificationSupplementary occupational pension fund (FRPS)Surplus fundsSwiss Solvency Test (SST)Tallinn ManualTemporary import of artworksTen-Year Statute of Limitations for US Sanctions ViolationsTermination at any time after one year (Hamon law)Test-AchatsThe three families of insurers in FranceThreat-led penetration testingTitle riskTrading with the Enemy Act (TWEA)Two-year guarantee of proper functioning (France)U.S. state data breach notification lawsUmpireUN norms of responsible state behavior in cyberspaceUN Security Council SanctionsUniversal Cable Productions v. Atlantic Specialty Insurance (2019)UNSCR 2664 Humanitarian Carve-OutUS Entity ListUS federal response to catastrophic cyber riskValue for money of insurance productsVicarious liabilityVoluntary notification of significant cyber threats (DORA)WAEMU (West African Economic and Monetary Union)Warranty (English insurance law)Washington PrinciplesWassenaar Arrangement