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16 July 2019
Godofredo Mendes Vianna Appellate court rules that subrogated insurers assume same rights and limitations as assureds

Brazil - Kincaid | Mendes Vianna Advogados

A recent Sao Paulo State Appellate Court case concerned a carriage of goods by sea from Port Everglades (United States) to the port of Rio de Janeiro (Brazil). The court's decision sets an important precedent in recognising that subrogation cannot be used to reinstate a right that no longer applies where a rights holder fails to observe a legal requirement. Therefore, subrogated insurers assume the same rights and limitations as assureds.

Authors: Godofredo Mendes Vianna, Rodrigo Cotta
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Yu Dan Have foreign-invested insurer licences been made available to foreign investors?

China - AnJie Law Firm

For foreign investors with an eye on the Chinese insurance market, obtaining an insurance intermediary licence is a good idea. However, compared with insurance brokerage licences, insurance agency licences are difficult for foreign investors to obtain. Therefore, foreign investors that wish to acquire control over a Chinese insurer should consider either setting up a new foreign-invested insurer or acquiring an existing foreign-invested insurer.

Authors: Yu Dan, Dong Xin
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Shubhangi Pathak Account aggregators: financial information sharing framework

India - Tuli & Co

The account aggregator ecosystem was introduced to solve the problems of data portability in the insurance sector, among others. However, the question of whether the business model is viable will largely hinge on the successful implementation of the consent architecture envisaged under the Master Directions Non-Banking Financial Company – Account Aggregator (Reserve Bank) Directions and the terms of the contractual arrangements which are entered into with the various regulated entities.

Authors: Shubhangi Pathak, Anuj Bahukhandi
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Hans Hammarbäck Authorisation requirements for third-country insurers: implications of a hard Brexit

Sweden - Mannheimer Swartling

In the event of a hard Brexit, UK insurers must obtain authorisation as third-country insurers in Sweden in order to offer their products to the Swedish market. Notably, insurers that are uncertain of whether the business which they intend to conduct constitutes insurance business in Sweden and is thus subject to authorisation can apply for a preliminary ruling from the Swedish Financial Supervisory Authority on the issue.

Authors: Hans Hammarbäck, Sofia Andersson, Hanna Hamrén
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Recent updates

Hao Zhan Essential provisions in Chinese reinsurance contracts

China - AnJie Law Firm

Authors: Hao Zhan, Zhou Yanghui
Shaun Hashim Ontario Court of Appeal: insured's failure to provide up-to-date address not breach of duty to cooperate

Canada - Theall Group LLP

Author: Shaun Hashim
Maximilian Guth Pleasure yacht insurance: navigating without up-to-date charts and proper voyage plan

Germany - Arnecke Sibeth Dabelstein

Author: Maximilian Guth
Shubhangi Pathak Draft guidelines address conflict of interest situations

India - Tuli & Co

Authors: Shubhangi Pathak, Priya Misra