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Article 23/06/2021
The Colorado Privacy Act (“ColoPA” or “Act”) has been sent to Governor Jared Polis’s office to be signed into law, making Colorado the third state to enact comprehensive privacy legislation (coming behind California and Virginia).
Article 22/06/2021
Illinois Gov. J.B. Pritzker signed the Prejudgment Interest Act into law on May 28, 2021. The Act amends 735 ILCS 5/2-1303 to provide recovery of 6% prejudgment interest in addition to the 9 % post-judgment interest already permitted. Effective July 1, 2021, the newly added Section (c) mandates that prejudgment interest will accrue on monetary awards (minus punitive damages, sanctions, statutory attorney’s fees, and statutory costs) rendered in personal injury and wrongful death actions at a rate of 6% percent per annum from the date of filing up to five years.
Article 22/06/2021
Today, any operations within the shipping and trade industry, and in consequence, the insurance industry which supports it, must include knowledge of and ensuring compliance with international sanctions. Failure to do so can result in serious fines and possibly penal sanctions.
Article 22/06/2021
The Insurance Act 2015 came into force in August 2016, and introduced proportionate remedies which insurers can rely on in certain circumstances. An insurer can proportionately reduce the sum paid out on a claim, where an insured breached its duty of fair presentation of the risk, but its breach was neither deliberate or reckless, and the insurer would have still entered into the policy, but charged a higher premium.
News 21/06/2021
Kennedys has continued its growth in the Middle East with the opening of a new office in Muscat, in the Sultanate of Oman. This office opening is in response to client demand for a presence in Oman, and sees Kennedys become the only international insurance-focused law firm in the country.
Article 18/06/2021
New competence- and training requirements for insurers, employees in insurance companies and insurance brokers are coming into force.
Article 17/06/2021
Contracts for the supply of goods or services (including construction contracts) frequently contain provisions seeking to limit the quantum of liability for breach by the vendor or contractor. A liquidated damages clause is a familiar example of such a provision.
News 17/06/2021
We are delighted to again be a global partner of Dive In, the international festival for diversity and inclusion (D&I) in insurance and an initiative of Inclusion@Lloyd’s.
Article 16/06/2021
A liability insurer’s duty to defend a third-party lawsuit in Florida is triggered when the complaint against the insured alleges facts that potentially bring the action within the policy’s coverage grant. Like courts in other jurisdictions, Florida courts generally apply the eight corners rule that restricts the court’s analysis of the issue to the terms in the four corners of the policy and the allegations inside the four corners of the complaint.
News 16/06/2021
Kennedys is implementing a hybrid working policy which will allow people to work from home up to 40% of the time.
