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New legal framework for foreign reinsurers and intermediaries in Ecuador
On Friday February 24, 2023, the Superintendence of Companies, Securities, and Insurance (SCVS) issued new provisions on the requirements that foreign reinsurers and reinsurance intermediaries must meet in order to obtain or maintain their license to do business in Ecuador from abroad.
Hong Kong Regulatory Insurance Update February 2023
In this February 2023 edition of Regulatory Insurance Update, the Hong Kong Corporate & Commercial Team provide the latest updates relating to the law and regulations, developments, and news in the insurance industry in Hong Kong.
Castano v. Augustine: Strict construction of the law at odds with New Jersey public policy?
Over time, New Jersey’s No Fault Act has evolved to incorporate additional restrictions on an injured party’s right to sue for injuries resulting from an auto accident. These restrictions, viewed as a trade-off for the Act’s promise of prompt payment of medical expenses regardless of fault, serve to impose the “draconian consequence” of completely foreclosing a prospective plaintiff’s cause of action should they run awry of requirements of the Act.
The new Consumer Duty and the impact on brokers
The FCA’s new Consumer Duty is due to come into force this July, as noted in our report 'Insurance forecast 2023: claims trends and future risks'. The Consumer Duty will have a significant impact on insurers and insurance intermediaries. This article specifically focusses on the impact of the new Consumer Duty on insurance brokers.
Personal injury report 2023: trends and future risks
Our latest report highlights some of the key trends and future risks that we anticipate will shape the personal injury agenda for 2023 and beyond.
Insurers to indemnify for bulk notifications of a “problem”
In Uniting Church in Australia Property Trust (NSW) v Allianz Australia Insurance Limited, the Federal Court of Australia ruled that the insured Plaintiff was entitled to indemnity by relying on a bulk notification of a “problem”. This decision confirms several important principles related to the notification of circumstances in Australia.
What’s left of VCAT’s construction dispute jurisdiction?
The Honourable Justice Delany of the Supreme Court of Victoria recently held that the Victorian Civil and Administrative Tribunal does not have jurisdiction to determine claims for contribution brought pursuant to the Wrongs Act 1958 (Vic). In this article, we provide an overview of the decision and insights on the potential implications for VCAT’s Building and Property List.
Case review 06/03/2023
The widening of a lawyer’s duties to third parties? Ashraf v Lester Dominic Solicitors & Ors considered
There were several interesting cases in 2022 which considered the scope of a lawyer’s duties. 2023 began in a similar vein, with an interesting case in the Court of Appeal around a lawyer’s duties to third parties: Ashraf v Lester Dominic Solicitors & Ors.
Kennedys Launches Focus on Fostering Innovation
Today, we launch our focus on innovation, a thought leadership series with seminars, research articles, and reports which will run throughout March, to highlight innovation at Kennedys, and across the wider insurance and legal industries.
The Windsor Framework – cause for optimism for the logistics sector?
On Monday 27 February 2022, UK Prime Minister Rishi Sunak and European Commission President Ursula von der Leyen unveiled the new ‘Windsor Framework’, heralded as a “decisive breakthrough” on the issues that had beset the Northern Ireland Protocol.