Insurance & Reinsurance

Recent Articles

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  29.09.2023

  Scotland

  Cladding Remediation Bill: The next step for cladding in Scotland

  In the recently announced Cladding Remediation Bill, the Scottish Government has unveiled the next step of its response to the issue of potentially combustible cladding.Cladding Remediation BillThe Scottish has recently announced Cladding Remediation Bill to introduce two reforms to support the overall Cladding Remediation Programme commenced following the Grenfell Tower Disaster in June 2017.Firstly, the Bill will build upon the progress made in identifying and assessing potentially hazardous cladding on medium and high-rise multi-residential buildings by accelerating the ongoing survey programme...

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  13.09.2023

  United Kingdom

  What’s all the RAAC-et about?

  Concerns around Reinforced Autoclaved Aerated Concrete (“RAAC”) have become increasingly widespread since the Department for Education recently issued new guidance on the material’s management in the context of school buildings. As a result of the guidance, schools across the UK known to contain RAAC have closed, and alternative venues have been sought to commence the new school term.Problems associated with RAAC are not however exclusive to the public sector. RAAC was commonly used for the construction of roof decks, walls, and floor reconstructions across a broad spectrum of...

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  05.09.2023

  Oman

  The New Oman Social Protection Fund Law - Key Changes

  The Sultanate of Oman as a welfare state has for long operated under the old Public Authority for Social Insurance (PASI) Law (Royal Decree 72/9). Recently however, Oman has enacted the novel Social Protection Fund Law (SPFL) (Royal Decree 52/2023) in an attempt to enhance its social welfare framework by creating a single and unified social protection fund that improves financing and provides a wide range of benefits to workers and their families. This article provides an overview of some of the key aspects of the new law and compares it with its repealed predecessor, by highlighting the key impacts...

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  31.08.2023

  United Kingdom

  AI in financial services – Autumn 2023 update

  Over the course of 2023, artificial intelligence (“AI”) has continued to rise up the regulatory and business agenda. Ahead of several important policy announcements in Autumn/Winter 2023, we have prepared an update on recent regulatory developments in AI and upcoming milestones for the financial services sector.  The update includes a summary of the UK Government AI White Paper consultation, which is due to report back by the end of September, an overview of recent areas of focus for the UK financial services regulators in relation to AI, an update on the current status...

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  25.08.2023

  United Kingdom

  The Future of Pre Action Protocols? (Phase 1)

  On 15 November 2021, the UK’s Civil Justice Council (CJC) published an interim report consulting on pre-action protocols (PAPs). It provoked considerable discussion among insurers and solicitors alike. Its main focus was on the role of PAPs in the contemporary civil justice system, including their role in an “increasingly digitalised justice system”. The consultation closed in January 2022 and the CJC’s long-awaited response has been published. The CJC’s role is to make policy recommendations to the Civil Procedure Rule Committee (CPRC), who are responsible for drafting...

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  26.07.2023

  Netherlands

  Dutch Supreme Court provides more clarity on when the two-month period commences within which an insurer can invoke the consequences of non-disclosure

  Relevant legal provisions and introduction Article 7:928 paragraph 1 of the Dutch Civil Code (DCC) states that prior to entering into the insurance agreement, the policyholder has an obligation to disclose to the insurer all facts of which he is aware, or ought to be aware, and on which, as he knows or ought to understand, that the decision of the insurer whether, and if so, on what terms, the latter is willing to enter into the insurance, will or may depend. Article 7:929 paragraph 1 DCC states that an insurer that discovers non-compliance with a disclosure obligation described in Article 7:928...

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