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Article 12/08/2022
Historically, jurisdictional insurance laws in the United States governing credit for reinsurance have required non-US reinsurers to post 100% collateral in the US for risks reinsured from US ceding insurers. Many international reinsurers complained about these collateral requirements which were deemed barriers for international trade and business.
Report 07/13/2022
Our latest global report finds that the insurance industry has a central role in building wider understanding about climate-related risks and in mitigating against those risks.
Report 03/23/2022
In this publication, Kennedys experts answer a series of questions relating to Australian Insurance and Reinsurance Laws and Regulations and identify common issues, including regulatory authorities and procedures, (re)insurance claims, litigation and arbitration.
Article 03/09/2022
2021 was a very busy year in terms of regulatory updates within many of the Latin American insurance legal systems as reported in our previous article published last November. As technology advances and communication is ever more rapid, many countries in Latin America are trending towards the globalization of their (re)insurance markets by way of promoting clearer legal frameworks and inclusion of wider and more international market practices into their local Insurance and Reinsurance regulations.
Article 03/03/2022
One important issue which normally arises in commercial contracts, with important repercussions on Policies Coverage, is clauses which limit or even exclude a party’s liability.
Article 04/30/2021
The Florida Legislature passed comprehensive property insurance reform before the end of the 2021 Legislative Session, which concluded on Friday, April 30. Senate Bill 76 (“SB 76”) represents the latest attempt to curb litigation trends over first-party property claims and curtail the rise of property insurance premiums by limiting the circumstances in which attorney’s fees are awarded to prevailing insureds and imposing pre-suit requirements on plaintiffs.
Article 01/22/2021
Few industries illustrate the tension between the forces of supply and demand as neatly as the insurance industry: locked in a perpetual cycle of fluctuating supply – or “capacity” – with a “soft” market during periods of excess capacity, characterised by lower pricing and broader policy coverage, and a “hard” market during periods of restricted capacity, characterised by higher pricing and narrower policy coverage.
Article 03/25/2020
In a recent decision, the United States Court of Appeals for the Seventh Circuit affirmed a trial court’s denial of a defendant’s motion to compel arbitration finding that the party had waived the right to arbitrate. In Brickstructures, Inc. v. Coaster Dynamix, Inc., ___ F.3d ___, Case No. 19-2187 (7th Cir. March 11, 2020), the Plaintiff brought suit against its former business partner alleging That Coaster Dynamix breached a joint venture agreement and its fiduciary duties and false advertising in violation of the Lantham Act. Id. at *3. Coaster Dynamix moved to dismiss the complaint pursuant to Federal Rule 12(b)(6). Arguing that the joint venture agreement was an unenforceable contract. The trial court, however, dismissed the complaint on jurisdictional grounds. Id.
Case review 02/10/2020
The High Court has handed down judgment in the multi-party Ingenious Litigation (Rowe & Ors v Ingenious Media Holdings plc & Ors [10.02.20]), which provides further guidance on the circumstances in which litigation funders may be required to provide security for costs.
Article 12/30/2019
This year’s annual UN climate change conference attended by 197 countries and nearly 27,000 delegates was the longest on record and ended on Sunday 15 December amid frustration and disappointment at what little progress was achieved.
