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Insurance

11 August 2020
Jia Wan China, GATS, Trump: do non-US insurers get a piece of the US-China trade deal?

China - AnJie Law Firm

Despite the tortuous path ahead for the US election campaigns and the trials and tribulations of 2020, the US-China Phase One Trade Deal remains in place. As China begins to further open its financial market, foreign insurance institutions (FIIs) may be wondering whether non-US FIIs have any chance of benefiting from China's treatment of US insurers. If only US insurers benefit, would that be a Global Agreement on Trade in Services (GATS) violation or would it be GATS compliant?

Author: Jia Wan
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Celia Jenkins Health insurance cover for mental illnesses

India - Tuli & Co

Owing to rising concerns around mental healthcare in India and the legislative push to recognise the crucial role that medical insurance plays in the treatment of mental disorders globally, the Insurance Regulatory and Development Authority of India has introduced certain measures for the insurance sector aimed at including the treatment of mental illness in the coverage offered under insurance policies. This article summarises the key developments.

Authors: Celia Jenkins, Anuj Bahukhandi, Nimisha Srivastava
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Peggy Sharon Foreign insurers' right of subrogation – time for revision?

Israel - Levitan, Sharon & Co

In November 2017 the Supreme Court approved a district court's decision that a foreign insurer which is not licensed under the Supervision Law is not entitled to file a subrogation claim in Israel. Notably, the Supreme Court is expected to readdress this decision in the near future. In view of its problematic outcome, it is hoped that the court will take this opportunity to reconsider its position and set a new and fairer precedent.

Authors: Peggy Sharon, Yael Navon
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David Maria Marino Fair and balanced insurance contracts – recent Supreme Court rulings

Italy - DLA Piper

In two separate orders, the Supreme Court has reiterated certain principles that should be used as guidance for interpreting insurance clauses with a view to ensuring a fair balance between the insured's rights and the insurer's obligations. The orders once again confirm the importance of insurance contracts being drafted with rigor and in accordance with clear and simple criteria in order to limit misinterpretation and possible litigation.

Authors: David Maria Marino, Karin Tayel
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Masakazu Masujima Impact of Financial Service Intermediary Act on insurers

Japan - Mori Hamada & Matsumoto

In June 2020 a bill to increase convenience and protect users of financial services, known as the Financial Service Intermediary Act, passed the Diet. The bill, which is expected to be enacted by the end of 2021, will amend the Act on Sales, etc of Financial Instruments and introduce a new financial service intermediary system. This article sets out what the new act will mean for insurers, insurance agents and brokers.

Authors: Masakazu Masujima, Kazuo Yoshida, Yuta Mizobata
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Recent updates

Shubhangi Pathak FDI in insurance intermediaries – update

India - Tuli & Co

Authors: Shubhangi Pathak, Priya Misra, Nimisha Srivastava
Jia Wan Why business interruption insurance covers only losses resulting from damage to property

China - AnJie Law Firm

Authors: Jia Wan, Liu Sichen
Dylan Cox Novel case on data exclusion interpreted in favour of insureds

Canada - Theall Group LLP

Author: Dylan Cox
Hans Hammarbäck Group insurance in Sweden: general overview and implications of EU legislative acts

Sweden - Mannheimer Swartling

Authors: Hans Hammarbäck, Lovisa Hedlund, Jennie Wahlgren
Athanassios Lambrou Implementing non-damage business interruption cover in the time of COVID-19

Greece - Zemberis, Markezinis, Lambrou & Associates

Author: Athanassios Lambrou
Carolin Schilling-Schulz Insurance premium tax: Federal Ministry of Finance issues guidelines on determination of policyholders

Germany - Arnecke Sibeth Dabelstein

Authors: Carolin Schilling-Schulz, Sophia Reeg
Christian Werenberg Smooth sailing? Jurisdiction agreements in yacht insurance contracts

Denmark - WSCO Advokatpartnerselskab

Author: Christian Werenberg

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