Mondaq Middle East & Africa: Insurance
The ruling of the English Court of Appeal in The Princess of the Stars that a "follow the settlements" clause in a reinsurance policy does not negate or impinge on the general rule that a stay of English court proceedings, should be granted only in rare and compelling circumstances.
Last week saw the Council of the EU strengthen its position on Iran in the wake of similar US measures over the summer.
This week former Iranian President Rafsanjani, implicitly criticised President Ahmadinejad for failing to take the latest sanctions seriously.
On 26th July 2010 Clyde & Co LLP published an article setting out the new Iran sanctions that had been adopted by the European Union Foreign Affairs Council.
On 27 July 2010, the EU imposed its toughest sanctions regime yet on Iran, with ramifications for energy, insurance, transport and financial sectors.
The Qatar Financial Centre Regulatory Authority recently announced that it is a signatory to the International Association of Insurance Supervisors Multilateral Memorandum of Understanding.
Following its recently published consultation papers in respect of captive insurance and insurance intermediaries, the Qatar Financial Centre Regulatory Authority ("QFCRA") circulated the new Insurance Mediation Business Rulebook ("IMEB") on 27 June 2011.
Pursuant to the recent shift in the Qatar Financial Centre's ("QFC") strategic focus toward becoming a captive insurance hub for the region, the QFC Regulatory Authority ("QFCRA") in early April 2011 issued two consultation papers.
The Saudi Arabian Monetary Authority has issued the outsourcing regulation for insurance and reinsurance companies and insurance services providers operating in the Kingdom of Saudi Arabia.
At the time this article was originally written, the English football Premier League was nearing the end of the 2011/2012 season…
Since the promulgation of the Law on Supervision of Cooperative Insurance Companies (the Insurance Law) in the Kingdom of Saudi Arabia (KSA) in August 2003, the Saudi Arabian Monetary Agency (SAMA) has been one of the most proactive and progressive insurance regulators in the Middle East.
This article discusses ten things to know in relation to foreign investment and insurance regulation in South Africa.
Insurers would be well advised to give serious consideration to whether or not litigation is contemplated prior to instructing loss adjusters or experts to provide reports in any matter.
An insurance broker is retained to arrange house and contents insurance. For one reason or another he fails to do so. Yet he tells his clients he has placed the insurance.
South African common law was recently aligned with the dynamic and ever-evolving values of South African society.
The Supreme Court of England handed down Judgment, on 28 March 2012, in the matter of Durham v BAI (Run Off) Ltd (In Scheme of Arrangement) and other appeals1 in which all five justices were unanimous in their interpretation of the policy wordings.
An important deadline has just passed by which dual national Egyptians and foreign owned businesses must have disposed of their investments in the Sinai Peninsula, or face compulsory acquisition by the state.
Companies will be aware that they have a number of options from which to obtain their insurance coverage.
In May 2012, the UAE Insurance Authority issued a consultation document outlining a new regime for the regulation of insurance intermediaries.
The concept of good faith is pervasive in all contracts of insurance and reinsurance in the United Arab Emirates.
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A discussion on the ways of handling disputes in the UAE.
This article discusses ten things to know in relation to foreign investment and insurance regulation in South Africa.
The introduction of compulsory health insurance and how it is likely to be rolled out across the UAE remains a very important issue for the country as a whole.
The plaintiffs contracted with a private security company to provide them with a 24 hour Grade D armed security guard.
The ruling of the English Court of Appeal in The Princess of the Stars that a "follow the settlements" clause in a reinsurance policy does not negate or impinge on the general rule that a stay of English court proceedings, should be granted only in rare and compelling circumstances.
Commercial disputes before the State Courts in the UAE are characterised by exchanges of written submissions with little, if any, taking of witness evidence or oral advocacy.
An important deadline has just passed by which dual national Egyptians and foreign owned businesses must have disposed of their investments in the Sinai Peninsula, or face compulsory acquisition by the state.
In May 2012, the UAE Insurance Authority issued a consultation document outlining a new regime for the regulation of insurance intermediaries.
The Supreme Court of England handed down Judgment, on 28 March 2012, in the matter of Durham v BAI (Run Off) Ltd (In Scheme of Arrangement) and other appeals1 in which all five justices were unanimous in their interpretation of the policy wordings.
Companies will be aware that they have a number of options from which to obtain their insurance coverage.
