04 July 2019
Depreciation is not to be deducted as a “saving” in calculating business interruption claims
Whether a reduction in non-cash costs such as depreciation following insured damage amounts to a “saving” to the policyholder which is to be deducted from insured Gross Profit in calculating business interruption losses is an issue which has been debated by claims professionals for many years. The...
21 February 2019
EIOPA issues Brexit advice - some good news for UK insurers and intermediaries?
Recommendations issued on Tuesday by EIOPA emphasise the importance of safeguarding policyholders in the event of a "no deal" Brexit. Encouragement given to EEA states to help UK insurers meet their obligations to EEA policyholders is particularly welcome. In some areas, EIOPA has provided explicit...
07 February 2019
Insurance and reinsurance disputes annual review 2018 published
We are pleased to share with you our Insurance and Reinsurance Disputes Annual Review of 2018, published today, which provides an overview and analysis of the key cases and developments affecting those engaged in or with contentious matters in the insurance and reinsurance market.
09 July 2018
Comments on UK proposal for the future relationship with the EU
Last Friday, 6 July, it was understood that the UK Cabinet had finally united around a UK position on the desired future relationship with the EU. However, it now remains to be seen if the proposal survives the protests of “betrayal” heard from some quarters and the resignations of the Secretary of...
05 February 2018
Brexit 'The view from Brussels' – developments in January
January was dominated by the strikingly public discussion of the content of the next supplement to the negotiating guidelines that the European Council finally adopted on 29 January. We discuss some features of these guidelines and their significance for the negotiations below. There was also much...
30 January 2018
Brexit – PRA consults on approach to UK branches of incoming insurers
On 20 December 2017, the Treasury , PRA and FCA clarified their approach to EEA-headquartered financial services firms wishing to carry on business in the UK post-Brexit. More recent evidence to the House of Commons Treasury Committee ("TC") sheds further light on the PRA's thinking. It also...
22 December 2017
Brexit - EIOPA publishes opinion on legacy insurance business
An opinion published by EIOPA yesterday raises concerns for UK insurers who have policyholders in EEA states other than the UK. This will include, for example, every life company with annuitants living in an EEA state*, perhaps because they moved from the UK on retirement. Insurers have been aware...
27 February 2017
Regulatory developments in insurance sector in Indonesia: Potential impact on insurance M&A
It has been over two years since the Indonesian Insurance Law (“ Insurance Law 2014 ”) was passed into law by the Indonesian House of Representatives (locally known as the “ DPR ”) on 17 October 2014 ( click here for our e-bulletin dated 2 October 2014 on the Insurance Law 2014).
07 September 2020
London International Disputes Week 2020
We are pleased to announce that London International Disputes Week (LIDW) is returning for a second year in September 2020. Herbert Smith Freehills is proud to be associated with this key event, which celebrates London as a global centre for dispute resolution. 7 – 11 September 2020 For more...
16 March 2020
Panel Discussion: Driving efficiencies in arbitral practice
The International Arbitration Act 15 of 2017 has delivered the required framework for South Africa to become a truly international arbitration hub. The inaugural Johannesburg Arbitration Week, which takes place on 17-19 March 2020, will take a step towards this goal, exploring recent developments...
18 February 2020
Artificial Intelligence in the Public Sector – a new regulatory field?
The Committee on Standards in Public Life (the “Committee”) has published a report on artificial intelligence (“AI”) and its impact on public standards following the Committee’s review into this fast-developing field (the “Report”). The Report sets out the Committee’s recommendations for the...
18 February 2020
Insurance for Coronavirus losses
The Coronavirus and the consequential action by Chinese authorities to quarantine areas and close factories is causing significant disruption to supply chain logistics for businesses all over the world. Many Australian policyholders are asking: can the adverse financial consequences of the...
17 February 2020
Foreign investment: Rising tides of politics in regulation
Foreign Direct Investment ( FDI ) filings are an increasingly important piece of the regulatory jigsaw for cross-border M&A. Our newly updated report on Foreign Investment: Rising Tides of Politics in Regulation considers both the current landscape and new restrictions due to take effect by the...
14 February 2020
Federal Court provides helpful guidance on a range of AFSL concepts
On 5 February 2020, the Federal Court of Australia handed down its decision in Australian Securities and Investments Commission v One Tech Media Ltd  FCA 46 ( One Tech Media ). The Court found that One Tech Media Limited ( One Tech ), Allianz Metro Pty Ltd ( Allianz Australia ) and others had...
12 February 2020
Biometric myopia: Expanding the facial recognition debate
In the past six months, the global furore over public as well as private sector use of facial recognition technology has only increased. However, although this debate is increasing in volume, it is arguably not expanding in scope.
12 February 2020
A new era: what’s in store for tech regulation in 2020?
With headlines accumulating, and calls for regulatory action accelerating, 2019 ended the decade with the rise of the techlash and the end of ‘ permissionless innovation ’. As we move into the 2020’s with these long-simmering trends continuing to erupt, how will the race to regulate ‘big tech’ play...