David Lewin, Managing Director Contact In exceptional cases under Austrian law, a third party liability insurer may be obligated to pay an indemnification to an insured party. Such cases exist where the insured settled damages with an injured third party or where the injured third party agreed to a payment to the insured. The latter situation must be stated in a civil ... Continue Reading »
legal update
European Countries Face Continued Challenges Adapting Local Legislation to EU Legal Requirements
Guy Carpenter published its semiannual report on key legislative developments in Europe affecting liability insurers and reinsurers. A number of these developments underscore the challenges in adapting local legislation and jurisprudence to European Union (EU) and international law. ... Continue Reading »
Conclusion: Recent Legislative and Judicial Developments in Continental Europe Affecting the Casualty Insurance Industry, Fall 2011
A broad diversity of topics is investigated in our latest update: ... Continue Reading »
Continental European Legislative and Judicial Trends: Swiss Supreme Court: Scope and Limitations Regarding Insurer’s Right to Use Individual Monitoring and Surveillance
David Lewin, Managing Director Contact Introduction The use of individual surveillance technology and monitoring to avoid insurance fraud is being discussed in the casualty insurance community - not just in Switzerland but also all over the world. The most recent driver of this in Switzerland, however, is a decision made last year by the country's supreme court. ... Continue Reading »
Continental European Legislative and Judicial Trends: Negligent Auditor Liable to Capital Insurance Policyholder
David Lewin, Managing Director Contact Swedish Tax Law and Capital Insurance Under Swedish tax law, each transaction in securities, such as those involving shares and funds, triggers a 30 percent tax on profits. Consequently, capital insurance (Kapitalförsäkring) - a type of savings product - has become increasingly popular. ... Continue Reading »
Continental European Legislative and Judicial Trends: Swedish Supreme Court Makes Final Ruling: Motor Insurance, Not Taxpayers, to Settle Road Tanker Accident Repair Bill
David Lewin, Managing Director Contact Facts of the Case As reported in the April 2010 issue of this series, a tanker-truck was involved in a traffic accident in November 2005 on one of two parallel bridges in Sweden. The cab and the tank trailer overturned, landing between the bridges. About 55,000 liters (14,529 U.S. gallons) of an explosive and flammable liquid poured down ... Continue Reading »
Continental European Legislative and Judicial Trends: Supreme Court of Spain Rules on Policyholder’s Duty of Disclosure Prior to Conclusion of Contract
David Lewin, Managing Director Contact In a decision dated May 10, 2011 ( JUR 2011/194346), the Supreme Court of Spain ruled that a policyholder breached the duty of disclosure prior to the conclusion of a contract, even though the insurer did not submit to the policyholder any questionnaire at the time the policy was initiated. Whether this decision fits into the legal ... Continue Reading »
Continental European Legislative and Judicial Trends: Directors and Officers (D&O) Liability Insurance: The Emerging Market in Poland
David Lewin, Managing Director Introduction Directors and officers (D&O) insurance has grown steadily in popularity since it was introduced in Poland 15 years ago. Accompanied by a rise in risk-aware corporate leadership, D&O insurance has evolved from an unknown product in the mid-1990s to a near necessity during periods of economic instability. ... Continue Reading »
Continental European Legislative and Judicial Trends: The Norwegian Product Liability Act
David Lewin, Managing Director Introduction Product Liability Under Norwegian Law Several laws, including non-statutory law, govern Norwegian product liability and apply to all businesses producing or selling a product. According to these laws, Norwegian businesses are responsible for ensuring that their products are safe and do not pose a hazard to consumers. Moreover, ... Continue Reading »
Continental European Legislative and Judicial Trends: The Dutch “Class Action (Financial Settlement) Act” (WCAM)
David Lewin, Managing Director Contact Introduction The public consultation by the European Commission (EC) "towards a coherent European approach to collective redress (Brussels, February 4, 2011 SEC (2011) 173 final)" shows that the topic of "mass damages" is prominent on the European agenda. We take this opportunity to provide information on the current Dutch "Class Action ... Continue Reading »
