The international nature of recent developments presents challenges not only to regulators, but also to legal systems. This first edition of Insurance & Reinsurance Law & Regulation is an essential reference guide for corporations, financial institutions and legal professionals. Covering more than 19 major jurisdictions worldwide, it provides a clear overview of the regulations and regimes governing insurance and reinsurance in each one, and is structured to allow easy comparisons between jurisdictions.
THIS TITLE IS FOR
- General counsels
- Lawyers, advisors, fund managers, consultants
- Practitioners in the field
- Corporate users
1. WHAT RISKS MUST BE INSURED?
1.1 What are the compulsory classes of insurance?
1.2 Who must they be insured with
1.2.1 Locally admitted insurers
1.2.2 Foreign insurers
2. WHO CAN INSURE NON-COMPULSORY CLASSES OF RISK?
2.1 Locally admitted insurers
2.2 Foreign insurers
2.3 Excess and surplus lines markets
3. WHICH REINSURERS CAN BE USED?
3.1 Must they be locally admitted?
3.2 If not, are security requirements imposed?
4. THE TAXATION OF INSURANCE
4.1 What taxes are levied on insurance premium?
4.2 What exceptions are there?
5. INSURANCE REINSURANCE AND CAPITAL MARKETS
5.1 How is finite reinsurance treated?
5.1.1 What constitutes risk transfer?
5.2 Derivatives, ILWs and wagering agreements.
5.2.1 What constitutes insurable interest?
5.3 Side Cars and CAT Bonds
5.3.1 To what extent are these governed by the law relating to insurance contracts?
5.4 Other ILS and ART products
6.1 What commissions and brokerages are permissible? What disclosure of commissions is required?
7. HOW ARE AGENTS (BROKERS AND UNDERWRITING AGENTS AND THIRD PARTY CLAIMS ADMINISTRATORS) REGULATED?
8. IS TAKAFUL POSSIBLE?
9. WHAT SCOPE IS THERE FOR MICROINSURANCE?
10. EXIT SOLUTIONS – WHAT SOLUTIONS ARE AVAILABLE AND HOW DO THEY OPERATE? HOW ARE FOREIGN SOLUTIONS RECOGNISED?
10.1 Portfolio transfer
10.2 Statutory Portfolio transfer
10.5 Policy buy-back
10.6 Solvent Scheme
Bermuda ?Neil Horner, Rod Attride-Stirling & Kim Willey ?ASW Law Limited
Brazil ?Marta Viegas ?TozziniFreire Advogados
Canada ?Jeffrey Graham & Crawford Spratt ?Borden Ladner Gervais LLP
Cayman Islands ?John Dykstra & Abraham Thoppil ?Maples and Calder
Chile ?Alejandro Acuña & Emilio Sahurie ?Acuña, Sahurie, Hoetz & Cifuentes
China ?Zhan Hao ?AnJie Law Firm
France ?Jacques Henrot, Olivier Hubert & Come Chaine ?De Pardieu Brocas Maffei
Germany ?Henning Schaloske & Oliver Sieg ?Noerr LLP
Gibraltar ?Peter Albert Isola & Christian James Caetano ?ISOLAS
Greece ?Theodore Panagos & Eleni Iacovides ?PFG Lawfirm & Goldberg Segalla Global LLP
Guernsey ?Frances Watson, Amanda Mochrie & James Cooke ?Ogier
Ireland ?James Grennan, Laura Mulleady, Emma Martin, Sinead Lynch & Zelda Deasy ?A&L Goodbody
Japan ?Naokuni Fukuda, Ryuji Kato, Tomoyuki Tanaka, Kaori Sato & William Segal ?Anderson Mori & Tomotsune
Norway ?Agnar Langeland & Andreas Meidell ?Thommessen AS
Spain ?Jorge Angell ?L.C. Rodrigo Abogados
Switzerland ?Christopher L Bell, Lars Gerspacher & Sara Andrea Behrend ?gbf Attorneys-at-law
UAE ?Michael Kortbawi & Amira El Masry ?Bin Shabib & Associates (BSA) LLP
UK ?Clive O’Connell, Tanguy Le Gouellec de Schwarz & Darren Hanison ?Goldberg Segalla Global LLP
United States ?Helen Franzese, Fred Pomerantz & Aaron Aisen ?Goldberg Segalla LLP.
Clive O’Connell, Goldberg Segalla Global LLP is recognised as one of the world’s leading insurance and reinsurance legal professionals. He has focused his practice on reinsurance law since qualifying as a solicitor in 1982.
His experience includes representing clients in some of the largest reinsurance disputes in recent years, including disputes involving sums in excess of $100 million and multijurisdictional issues, and he has acted for clients in disputes in a variety of forums including the Commercial Court and arbitration in England, the federal and state courts and arbitration in the United States, the Commercial Court and arbitration in France, as well as other jurisdictions such as Bermuda, Jamaica, Switzerland, Sweden, and Hong Kong.
Clive has acted for clients on wording both of their general programmes as well as unique transactions. He has also been involved in every aspect of run-off and exit strategies for reinsurers and insurers.