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Article 08/12/2022
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.
Article 09/03/2022
The Covid-19 pandemic has undoubtedly demanded the entire world to take certain measures to adapt to the situation and Chile was no exception.
Article 09/03/2022
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 09/03/2022
On 29 June 2021, a popular Mexican influencer and youtuber known as YosStop (Josseline Hoffman) was arrested after Ainara Suarez filed an accusation against her for producing, storing and publicizing a video showing the gang rape that Suarez suffered at a party in May 2018, when she was 16 years old.
Article 22/02/2022
An increase in news reports about unfortunate events where the main characters are minors, leads us to consider, once again, their civil liability.
Article 22/02/2022
The Colombian legislation does not establish the obligation to purchase a liability insurance for private vehicles to cover the damages caused by the driver or the vehicle, leaving the victims of traffic accidents without effective tools to obtain full reparation for the damages suffered.
Article 22/02/2022
Many factors have shaped the container crisis, COVID-19 pandemic being the principal one: (i) shipping containers were stranded at different ports due to the inability to return to China at COVID-19’s early stage; (ii) disruptions of maritime traffic flow due to ports operating at a much lower capacity; and (iii) steady delay in products’ delivery due to manufacturing restrictions. Companies decided to charter their own vessels, increasing existing traffic of ships queueing up to disembark cargo, and creating heavy bottlenecks at sea.
Article 15/11/2021
The Covid 19 pandemic has brought upon many changes in almost all industries around the globe. The insurance sector has been no exception to the pandemic’s impact. It has had to adjust rapidly to the ever evolving activities it covers. Regulators around the world have responded to this situation by trying to adapt their regulatory requirements and practices to this “new reality”. LAC region is no exception.
Article 26/10/2021
As a way of follow up of our article published on 6 October 2021, in which we analysed the sanctions imposed to La Positiva Seguros y Reaseguros and Rímac Seguros y Reaseguros (members of the La Positiva Rímac Consortium) by way of Resolution 02815-2021-TCE-S3 issued by the Third Chamber of the Court of Contracts with the Peruvian State, such sanctions have been recently lifted.
Article 06/10/2021
On 16 September 2021, the Third Chamber of the so-called “Court of Contracts” of the Peruvian State issued Resolution 02815-2021-TCE-S3.
