Insurance

News

RSA legal head re-emerges after two year hiatus

RSA’s former general cousel Derek Walsh has resurfaced at Jardine Lloyd Thompson after a two year hiatus from the legal industry. Walsh joins insurance company JLT as its group general counsel and will also become a member of the group executive committee. He replaces Keith Johnson in the role; Johnson joined JLT in 2014 from […]

Analysis

Featured Briefings

Bermuda: Setting up a class 2 captive insurer

A company may be licensed as a Class 2 insurer if it is owned by two or more unrelated persons and intends to carry on insurance business at least 80% of which consists of insuring the risks of those persons and their affiliates. A Class 2 insurer may also write business which is not a […]

Bermuda: Setting up a class 1 captive insurer

A company may be licensed as a Class 1 insurer if it is wholly owned by one person and intends to carry on insurance business consisting only of insuring the risks of that person or its affiliates. Such insurers are often referred to as “pure captives” and are subject to the least onerous regulatory oversight […]

UK Supreme Court rules on internet blocking orders

By George Sevier and Kate Swaine The UK Supreme Court has returned its long­-awaited judgment in the Richemont litigation, holding that brand owners must indemnify internet service providers for the costs of implementing internet blocking orders, but not for the costs of the necessary underlying systems…

Kyrgyzstan insurance market overview

Kyrgyz law identifies insurance activity as an activity of organisations that have a licence to provide services to individuals and legal entities for premium services, the subject of which are contractual specific obligations of the insurer in the event of an unknown event, with the distribution of risk among a large number of persons exposed […]

Kazakhstan market insurance overview

The insurance market in Kazakhstan is mainly regulated by two legal acts, namely, the Civil Code of the Republic of Kazakhstan dated 27 December 1994 (the “Civil Code”)and the Law of the Republic of Kazakhstan “On Insurance Activity” No.126-II dated 18 December 2000 (the “Insurance Law”). The former provides for a general overview of the […]

Luxembourg: Effect of the insurance distribution directive on the life insurance industry

Directive (EU) 2016/97 on Insurance Distribution of 20 January 2016 (“IDD” or “the Directive”) harmonises national provisions concerning the distribution of insurance and reinsurance products and insurance-based investment products (“IBIPs”) by insurance intermediaries, insurance companies, their employees, and ancillary insurance intermediaries in the European Union. The objective of the present article is not to summarize […]

Litigation privilege over adjusters files in BC

By Anita Yuk This article identifies a significant development in 2016 in British Columbia jurisprudence with respect to insureds’ claims for litigation privilege over adjusters’ reports produced well before the commencement of litigation…

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Insurtech: Demystifying the hype

By Chris Garrod Every insurance and reinsurance related event lately has had at least one panel on a particular topic that almost no-one had heard of a couple of years ago: insurtech. What is insurtech?

Uzbekistan insurance market review

Insurance functions as a tool to optimize financing process of recovery of the resources lost as a result of random events and by this insurance considerably decreases financial load to the budget of the state. Insurance aids to avoid also such serious macroeconomic problems as the growth of the public expenditures and the budget deficit […]

Arbitrator qualifications: Does an insurance barrister have ‘experience of insurance’

By Samantha Holland, Michael Darowski and Christopher Richards In Allianz Insurance Plc & Anor v Tonicstar Ltd [2018] EWCA Civ 434, the Court of Appeal decided that an arbitration clause which provided that the arbitrators must have “not less than ten years’ experience of insurance” did not preclude an insurance QC from sitting as arbitrator. In doing […]

Switzerland: Finma’s new rules on outsourcing for banks and insurance companies

By Rashid Bahar and Martin Peyer On 5 December 2017, the Swiss Financial Market Supervisory Authority FINMA published its new circular 2018/3 Outsourcing – Banks and Insurance Companies. In contrast to the current rules, the new circular not only covers banks and securities dealers but is also applicable to insurance companies…

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