The Insurance Act, 2017 (the “Act”) has recently been enacted to reform the law governing insurance in Uganda. The purpose of the Act is to bring Uganda’s insurance law in line with the Insurance Core Principles (“ICPs”) developed by the International Association of Insurance Supervisors and the Financial Action Task Force recommendations on combating money laundering and countering the financing of terrorism ...
In a world that is becoming increasingly globalized, the law serves as a powerful tool in improving economic and social conditions. In such a world, trans-border judicial proceedings, or, as legal scholars call it, "legal disputes with extraneous elements" demand a certain consistency and predictability ...
The July 2017 issue of the Asian Legal Business (ALB) includes a Philippine regional update by SyCipLaw partner Hiyasmin H. Lapitan and associate Jo Margarette W. Remollo entitled, “Guidelines on Related Party Transactions for Insurers in the Philippines”. The article summarizes the Insurance Commission’s compliance guidelines on related party transactions, as set out in Insurance Circular Letter No. 2017-29 ...
In the days following Hurricane Harvey, tremendous attention has been appropriately placed on individual safety and rescue for the millions affected by the storm’s devastating winds and catastrophic flooding. Now the immediate emphasis for many corporate policyholders has turned to the practical challenge of repairing damaged property and restoring business operations suspended by the storm ...
As Hurricane Harvey continues to cause far-reaching disruptions, it is important to understand how to effectively assert or respond to assertions of force majeure. This summary outlines the steps to take to assert force majeure, and initial considerations for those who have received several notices of force majeure from counterparties ...
Types of Weather-Related Losses for Which Insurance May Be Available Different businesses are affected differently by the same storm, and even the same physical damage. For instance, a physical loss to a part supplier caused by flooding or a lost roof might impact that business as a physical property loss and as a consequential loss of business income. That same event might also indirectly impact a product manufacturer that relies on the part supplier for components to its product ...
As Hurricane Harvey continues to sweep the Texas coastline and destroy property in its path, insureds should take action before September 1st to protect their statutory rights and avoid the changes made under House Bill 1774, also referred to as the “Hail Bill,” which take effect September 1, 2017. The Hail Bill adds “Chapter 542A - Certain Consumer Actions Related to Claims for Property Damage” to the Texas Insurance Code ...
The Insurance (Bancassurance) Regulations, 2017 were recently gazetted, giving effect to bancassurance under the Insurance Act, 2017 (which is yet to commence) and the Financial Institutions Act, 2004.The introduction of Bancassurance in UgandaBancassurance refers to an arrangement where an insurance company uses a bank’s sales channels to sell insurance products ...
While the Ukrainian Parliament continues heated debates over the open market for agricultural land, one thing remains clear - the lifting of the moratorium on sale of agricultural land is an inevitable process, which is largely driven by globalization and the expansion of influence of major world corporate groups in Ukraine. However, for the land market and agribusiness to become transparent and efficient, the relevant risk management systems have to be implemented ...
California defamation law continues to evolve as the courts synthesize well-settled legal principles with ever-changing technological realities. On July 21, 2017, California’s First District Court of Appeal issued a published opinion in ZL Technologies v. Does 1-7 (July 21, 2017) 2017 DJ DAR 6999 ...
The Israeli Supreme Court Ruling earlier this year, which establishes that, for the purpose of service out of the jurisdiction based on Regulation 500(7) of the Israeli Civil Procedure Regulations, 5744-1984 (“Civil Procedure Regulations“) – it is not sufficient to indicate damage which allegedly occurred within Israel, but rather an act or omission in Israel must be shown ...
The Supreme Court of the Russian Federation (the “SC RF”) has adopted the Resolution of the Plenum No. 23 “On consideration of commercial cases arising from relationships complicated by an international element” (the “Resolution of the Plenum”) ...
The trial of murder-accused Henri van Breda has attracted widespread media attention in recent months. Now, the Supreme Court of Appeal (“SCA”) has delivered an important judgment linked to the case regarding the media’s right to broadcast aspects of court proceedings – not only in the Van Breda case, but in other cases too ...
Earlier this year the Federal Law " On Amendments to Articles 1252 and 1486 of the 4th part of the Civil Code of the Russian Federation and Articles 4 and 99 of the Arbitrazh Procedural Code of Russia" entered into force.The amendments relate to pre-trial procedure for resolving intellectual property disputes.1 ...
It was not until the late 1970s that deep-water offshore oil and gas exploration became significantly viable. The driver was the ever increasing demand for oil and gas products that provided the opportunity to raise the capital necessary to design and then build the incredibly complex floating assets needed to explore for and then to produce oil and gas in such hostile environments ...
The South African Constitutional Court has found that cabinet ministers can now be held personally liable for the costs of legal proceedings to which they are a party. This finding was made in the case of Black Sash Trust v Minister of Social Development and Others (Freedom Under Law NPC Intervening), in which judgment was delivered on 15 June 2017 ...
Last month, the Supreme Court decided TC Heartland LLC v. Kraft Foods Group Brands LLC, which narrowed the definition of where a corporate defendant "resides" for the purpose of suing it for patent infringement. In doing so, it overturned the 1994 holding of the Federal Circuit of what constitutes proper venue in patent infringement cases. Federal law allows a Plaintiff to bring a patent infringement suit against a defendant in any district where one of two conditions are met ...
Long-term care (LTC) facilities received a boost last week when the Centers for Medicare and Medicaid Services (CMS) reversed its position regarding the use of arbitration agreements in this setting. On June 8, 2017, CMS published a proposed rule amending LTC facilities’ conditions of participation in the Medicare and Medicaid programs to remove prohibitions on binding pre-dispute arbitration agreements ...
On May 15, 2017, the U.S. Supreme Court reaffirmed the long-standing federal policy favoring arbitration agreements. In a lawsuit brought against skilled nursing provider Kindred Nursing Centers, LP, the Court held that states cannot single out arbitration clauses for “disfavored treatment,” because doing so violates the Federal Arbitration Act (FAA). The case involved two wrongful death lawsuits that were consolidated in the Kentucky Supreme Court ...
Later this year, the Supreme Court of the United States will address the enforceability of class action waivers in employment arbitration agreements in Ernst & Young LLP v. Morris ...
On, May 27th, Governor Greg Abbott signed into law what has become known as the Texas “Hailstorm Bill ...
BREAKING NEWSEnforcement of foreign court judgments in Russia: a wind of change June 06, 2017 Dear Ladies and Gentlemen, We would like to inform you on recent precedents of Russian courts in cases concerning enforcement of foreign court judgments, which we believe represents a major step forward towards the goal of creating a favorable investment climate in Russia ...
Those seeking reasons to be optimistic about Ukraine’s judicial system can rejoice: Justice prevailed, or so ruled the High Commercial Court of Ukraine, the likely final arbiter in a dispute between the state Antimonopoly Committee of Ukraine and ACNielsen Ukraine, a market research firm ...
This article discusses new regulation introducing some novelties which in essence incorporate many comments coming from the industry. Some modifications to the legal framework provided for the previous regulation address the following: D&O Insurance; Side B. Coverage; Defense Costs; Individuals as Policyholders; Nominated Risks; Penalties; Environmental Risks.: and Side C. The Official Gazette published a new regulation enacted by SUSEP governing D&O insurance. Circular No ...
