Posts Tagged ‘legal developments’



January 31st, 2013

Criminal Liability of Companies Under Spanish Law: What is the Real Impact on Directors & Officers Coverage?

Posted at 1:00 AM ET

Recent Trends

The financial crisis has triggered a number of criminal investigations against companies and their directors. In light of these developments, this section provides an overview of the recently introduced Spanish regulation concerning criminal liability of companies and the real impact this reform will have on directors and officers (D&O) policies.

Continue reading…

January 29th, 2013

Swiss Supreme Court: Scope of Ban on Retroactive Insurance

Posted at 1:00 AM ET

Introduction

The current Swiss Insurance Contract Act (Versicherungsvertragsgesetz, VVG) prohibits retroactive insurance. Therefore, an insurance contract is usually void if the risk no longer exists or the feared event has already occurred before the contract is concluded (Article 9 VVG).

Continue reading…

December 4th, 2012

Recent Legislative and Judicial Developments in Continental Europe Affecting the Casualty Insurance Industry

Posted at 1:00 AM ET

Recent Legislative and Judicial Developments in Continental Europe Affecting the Casualty Insurance Industry  is the latest installment in Guy Carpenter & Company Ltd.’s (”Guy Carpenter’s”) legislative update series, designed to provide our international clients and markets with a concise overview of key trends in the Continental European legal environment. These issues have had an impact on insurers and reinsurers or are expected to have an effect in the near future.

Continue reading…

September 11th, 2012

Guy Carpenter Report Details European Legislative Developments for Casualty Insurance Market

Posted at 11:30 PM ET

Guy Carpenter issued its semiannual analysis of key European legislative developments affecting the casualty insurance industry. Produced in collaboration with law firm Heuking Kühn Lüer Wojtek and its network of legal experts across Continental Europe, the report, Recent Legislative and Judicial Developments in Continental Europe Affecting the Casualty Insurance Industry, analyzes the most impactful and significant legislative changes and judicial developments across 11 jurisdictions, which include:

Continue reading…

May 9th, 2012

Continental European Legislative and Judicial Trends: Concluding Comments

Posted at 1:00 AM ET

David Lewin, Managing Director
Contact

In this issue of our latest legal update we include some intellectually stimulating insights into the interaction with EU and international law of local legislation and jurisprudence in Austria, Belgium, France, Germany, Italy, Netherlands, Norway, Poland, Spain, Sweden and Switzerland.

Continue reading…

May 8th, 2012

Continental European Legislative and Judicial Trends: Revision of Swiss Insurance Contract Act - Recent Developments

Posted at 1:00 AM ET

David Lewin, Managing Director
Contact

Introduction

The Swiss Insurance Contract Act (Versicherungsvertragsgesetz, VVG) has been the subject of growing criticism for a number of years. In particular, the VVG does not provide for equivalence between the obligations of the insured and those of the insurer. Also, there has been deficient coordination between the VVG and the Swiss Code of Obligations (OR). As a consequence, the 100-year-old VVG is being modernized and oriented more towards the future.

Continue reading…

May 8th, 2012

Continental European Legislative and Judicial Trends: Supreme Court Clarifies Meaning of Occupational Injury Exclusion in Product Liability Insurance in Sweden

Posted at 1:00 AM ET

David Lewin, Managing Director
Contact

Background

A Swedish manufacturer of industrial fire protection systems sold and delivered equipment to a manufacturing company in the state of Michigan, United States. In May 2001, two employees of the U.S. company were seriously injured during working hours when they tried to extinguish a fire on company premises.

Continue reading…

May 7th, 2012

Continental European Legislative and Judicial Trends: Auditors’ Liability in Spain, From Unlimited to Limited

Posted at 1:00 AM ET

David Lewin, Managing Director
Contact

Background

The September 2010 issue of this series covered the controversial topic of auditors’ liability, and subsequently the September 2011 issue referred to the Consolidated Text of the Accounts Audit Act of July 1, approved by Royal Legislative Decree 1/2011 (RLD 1/2011), which abrogated the Accounts Audit Act (AAA) then in force. The RLD 1/2011 has been in force since July 3, 2011. The following provides an update to the September 2010 report and expands on the issue.

Continue reading…

May 7th, 2012

Continental European Legislative and Judicial Trends: Insurance Market for Public Servants in Light of New Act on Financial Liability of Public Servants for the Grave Violation of the Law in Poland

Posted at 1:00 AM ET

David Lewin, Managing Director
Contact

Introduction

A new regulation, the act on the Financial Liability of Public Servants for the Grave Violation of the Law (FLPS), may impact the Polish insurance market in the next few years. FLPS concerns the financial liability of public servants towards the State Treasury, the territorial government unit or other legal persons that bear liability for damages inflicted while exercising public authority. The Polish Parliament passed the act on January 20, 2011, and it became effective on May 17, 2011.

Continue reading…