Member Articles

Through the sentence 67240 OF MARCH 1, 2023, the Third Section of the Council of State (hereinafter, the " CE ") resolved an appeal filed by a public entity against the first instance ruling handed down by the Administrative Court of Arauca, which acquitted an insurer of payment of the indemnity derived from compliance insurance, considering that the actions derived from the insurance contract against the insured entity had prescribed ...

June 5, 2023 By: Joshua Robbins and Stephanie Shea While we wait for the U.S. Supreme Court to decide the fate of the Chevron doctrine governing courts’ deference to agencies’ interpretations of law, its recent decision in another case has flown under the radar. In Calcutt, III v. FDIC, 598 U.S ...

In March 2022, a bill of law was introduced to amend the Sanitary Code by stating as a new requirement to carry out medical activities a civil liability insurance for damages committed during the professional practice ...

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On 25 April 2023, Guernsey introduced the Preferred Debts (Insurance Policyholders) (Bailiwick of Guernsey) Amendment Ordinance, 2023.  That Ordinance effects changes to the Preferred Debts Law, 1983, which accords priority to certain preferred creditors in the event of insolvency. Full details of Guernsey's insolvency regime can be found here ...

On June 7, 2023, the Minister of Finance of Quebec tabled and presented Bill 30 before the National Assembly, an omnibus bill entitled An Act to amend various provisions mainly with respect to the financial sector (hereinafter the ?Bill?).  The Bill includes certain amendments to the provisions of the Insurers Act (?IA?) and the Act respecting the distribution of financial products and services (?DA?) ...

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On September 28th, Law 21,614 of the Ministry of Labor and Social Security was published in the Official Gazette (hereinafter the “Law”), which establishes amendments to Law No.21,063, which Creates an Insurance for the Accompaniment of Children Suffering from Diseases as Indicated and Modifies the Labor Code for these purposes (hereinafter “SANNA Law”) ...

Carey Olsen in Bermuda advises Hamilton Insurance Group on its Initial Public Offering on the New York Stock Exchange Bermuda-headquartered Hamilton Insurance underwrites specialty insurance and reinsurance risks on a global basis through its wholly owned subsidiaries. Enhanced by data and technology, the firm is focused on producing sustainable underwriting profitability to deliver shareholder value ...

One solution to this issue is for pension funds to transfer longevity risk to the reinsurance market. Such a transfer can be attractive for both parties. From the pension fund’s perspective, a life reinsurer is often an attractive counterparty, both because of its deep understanding of the nature of the risk being transferred, and because it can provide a balance sheet big enough to assume a meaningful amount of risk from the fund ...

Insurance contracts, like any other type of contract, require informed consent by all signatories. This concept is especially relevant considering that an insurance contract is an example of uberrimae fidei, i.e. an agreement requiring the utmost and the most absolute good faith when one party is disclosing facts that could influence the other party?s decision. In other words, policyholders are held to a high degree of honesty when providing their insurers with information ...