Insurance | 01 September 2011

In this article, we discuss three topical issues affecting the insurance industry.

REGULATORY REFORM TAKES SHAPE

The future shape of insurance regulation in the UK has become clearer following the publication of the latest paper from HM Treasury and a joint paper released by the Financial Services Authority (FSA) and the Bank of England. [Continue Reading]

Insurance | 04 July 2011

The number and severity of natural disasters so far in 2011 is unprecedented: Australia, New Zealand, Japan, South and North America have all been hugely affected. This article looks at how the Australian insurance market has responded to losses as a result of the Queensland flooding and also look at how the London market is responding. [Continue Reading]

Insurance | 04 June 2011

As a result of demographic changes and a new surge in wealth, the Middle East has shown an increasing interest in mitigating risk through insurance. Despite concerns as to whether insurance accords with Islamic Sharia principles (which has been somewhat addressed by the set up of Takaful operators). Insurance is now being considered a social and economic necessity in the Middle East. [Continue Reading]

Insurance | 04 May 2011

The European Court of Justice (ECJ) has found that the pricing of insurance and other financial services on the basis of the sex of the customer amounts to sexual discrimination. [Continue Reading]

Insurance | 01 April 2011

With much of the Arab world going through political and social upheaval, oil and commodity prices rising sharply, and sky-rocketing food prices putting much of the world’s population back into extreme poverty, the risk of increased civil unrest occurring across the globe is a real possibility. In anticipation of such an event, multinational companies need to ensure that they not only have appropriate risk management and response procedures in place to protect their employees, but that they also have adequate insurance to protect their balance sheets. Similarly, (re)insurers need to carefully review their underwriting exposures, particularly regional accumulations and aggregations, to maintain the functionality on which most of global business depends. [Continue Reading]

Insurance | 01 February 2011

Business interruption insurance is often a key component of a company’s business continuity plan. The insurance is designed to compensate an insured for the financial effect of the interruption or interference to that business as a result of physical damage to an insured property or other key external events, such as damage at a supplier’s or customer’s premises. The intention is to restore the business to the same financial position as if the loss had not occurred, subject always to the terms and conditions of the policy. 
 [Continue Reading]

Insurance | 01 December 2010

The upheaval over the Past few years in the financial markets and the global economy has led to a climate of increased regulation worldwide, with greater exposures for directors and the companies by which they are employed. All of this has highlighted the importance for companies to have adequate insurance protection. Directors’ and officers’ (D&O) insurance is one such policy.

[Continue Reading]

Insurance | 01 November 2010

Imagine the situation: your company has a significant claim against a supplier for breach of contract and/or negligence. Following the original tender process you are aware that the supplier has the benefit of liability insurance, you know the identity of the insurers and the levels of cover available. You suspect that the supplier itself is in financial difficulties or, worse still, it is in fact insolvent. In what circumstances can you circumvent the insured wrongdoer and proceed directly against the insurers? The purpose of this article is to compare and contrast the position under English and French law.

[Continue Reading]

Insurance | 01 October 2010

Born from increasing international co-operation on anti-bribery issues and a general acceptance that legislation relating to the issue in the UK is outdated, the Bribery Act 2010 (the 2010 Act) received royal assent on 8 April 2010.

[Continue Reading]

Arbitration | 01 September 2010

When insolvency law and arbitration meet, the question arises as to how the commencement of the insolvency proceeding affects the ability to arbitrate, the arbitration agreement, the arbitration proceeding and the setting aside proceeding, as well as the recognition and enforcement of the arbitral award.

[Continue Reading]