The Embedding ESG in Insurance webinar is being held as part the Mamo TCV Sustainable Finance Week being held between 24 October & 28 October 2022. Please click here for the programme of events ...
The insurer incorrectly notified the insured of the general conditions of insurance. Could this result in the insurer being required to pay compensation, even though the general conditions of insurance state that there is an exception excluding the insurer’s liability? In our practice, we encountered an issue surrounding the need to notify the insured of the general conditions of the insurance contract ...
Any dog owner whose hound has ever become stuck down a rabbit hole will appreciate the aphorism, “Never get into anything you don’t know how to get out of”. Like a rabbit hole, getting out of the insurance business tends to be less straightforward than getting in. For that reason, specialist “run-off” carriers offer exit solutions to insurers who have ceased writing new business ...
At the time, most captive owners (and their advisers) were attracted by Bermuda's perceived economic, social and political stability, its strong infrastructure, its close proximity to New York and a legal system that tended to follow the English common law and provided for an ultimate right of appeal to the Privy Council in the U.K ...
One of the main rationales for using a cash box structure is that equity securities issued by PLC are issued for a non-cash consideration so that the statutory pre-emption provisions set out in the UK Companies Act 2006 do not apply. The issue can therefore take place without the timing implications of seeking shareholder approval to disapply the pre-emption rights or conducting a pre-emptive issue ...
pOver the last several years, traditional insurance has become increasingly expensive as insurers use risks and claims associated with the COVID-19 pandemic, geopolitical risk, supply-chain disruption, inflation and intensifying severe weather events to justify premium raises and coverage reductions ...
On the 5th August 2022, the Malta Financial Services Authority (hereinafter referred to as “the MFSA”) issued a Circular on the amendments to: the Glossary of Terms, Chapter 5 of the Insurance Rules and the Insurance Business (Exemptions) Regulations ...
Last month the Scottish Government published “Land Reform in a Net Zero Nation”, a consultation paper on a new Land Reform Bill. The paper sets out the proposals for the bill and seeks views on various related issues, including measures aimed at “large-scale holdings”, changes to subsidies, the introduction of a new type of agricultural tenancy, and transparency of land ownership ...
We publish the new edition of the newsletter on Banking and Finance, Capital Markets and Insurance Law in Angola for the 2nd quarter of 2022 brings together the most significant new developments in these areas. In this newsletter, you can find legislative news regarding the National Bank of Angola, President of the Republic, Government/Parliament and CMC ...
INTRODUCTION Cryptocurrencies have been gaining momentum in recent years, notwithstanding various concerns and critiques about the use-case of cryptocurrencies. Cryptocurrencies are digital or virtual currencies built on the Blockchain, secured by cryptography and typically designed to operate as a medium of exchange. Cryptocurrencies had a bull run in 2021 with Bitcoin, the first cryptocurrency, rising from approximately USD7,000 in 2020 to an all-time high of approximately USD69,000 in 2021 ...
In a recent article published in Risk & Insurance, WSG Member Andrea DeField, Partner at Hunton Andrews Kurth, provides insight on cyber captive options for businesses to manage growing cyber threats and exposure, as cyber coverage terms are tightening and policy rates continue to increase. Cyber Captives 101: Is Self-Insuring the Right Risk Mitigation Choice for Your Business? Cyber coverage is tightening ...
Bill 96 ? An Act respecting French, the official and common language of Québec (the ?Act?) - was adopted on May 12, 2022 and assented to on June 1, 2022, its effective date. Certain provisions are already in force; for other provisions, a transitional period ranging from several months to three years will apply ...
On May 24, 2022, Schwabe and Columbia Bank hosted the “Getting Ahead of Agriculture's Rising Wages and Tightening Labor Market” seminar to assist those working in Oregon’s agricultural industry to address concerns over rising wages and the tight labor market. Attendees heard from a group of industry professionals on a selection of relevant topics. The seminar was informative, engaging, and a big success ...
Bob McIntosh, the Tenant Farming Commissioner, has published a blog on the Scottish Land Commission website about the powers that the commissioner has to investigate alleged breaches of codes of practice. It seemed to me that the headline was slightly misleading. It stated boldly “Tenant farmers encouraged to notify the TFC of alleged code breaches” but of course landlords and tenants have duties under the codes and either party is entitled to complain ...
A key feature of Undertakings for the Collective Investment in Transferable Securities (“UCITS” fund) is the Key Investor Information Document (“KIID”), which provides the retail investor with simplified information from the prospectus. UCITS also qualify as Packaged Retail Investment and Insurance Products (“PRIIPS”) ...
One of the objectives of Product Oversight and Governance requirements is for manufacturers and distributors of an insurance or investment product to take into consideration the interests of customers when designing and /or distributing the relevant product ...
Bradley attorneys Heather Howell Wright, Elizabeth R. Brusa and Andrew Tuggle authored chapter 12 of A Practical Guide to Cyber Insurance for Businesses. This book is a practical guide for insurance brokers, underwriters, risk managers and businesses as each of these constituencies work with each other to choose the right cyber insurance product for commercial businesses ...
Regulatory Sandbox Framework for Insurtech and Other Regulated Entities Only a small sliver of the Philippine population, less than 2%, avails itself of insurance. This is one of the lowest rates in Asia. Access to mobile phones, however, is ubiquitous and, as such, insurance providers are developing mobile applications to serve, and attract, customers better ...
