Insurance M&A: Bermuda’s change of control requirements In the complex landscape of mergers and acquisitions (“M&A”), regulatory challenges play a critical role in the success of transactions ...
By: Melissa Groisman, Esq. As of October 1, 2024, Florida has implemented stricter flood disclosure requirements for residential real estate transactions. This means that sellers are now required to disclose a property’s flood risk to potential buyers prior to executing a purchase and sale agreement. What Does This Mean for Sellers and Buyers? Sellers: To comply with the new law, sellers must disclose any previous flood damage claims and federal assistance received due to flooding ...
Recently, the National Medical Products Administration (the "NMPA") issued the "Pilot Work Plan for the Segmented Production of Biological Products" (the "Pilot Plan"), introducing a pilot initiative for the segmented production of biological products. This represents a breakthrough in the regulation of segmented production, a long-awaited achievement in the biopharmaceutical industry ...
Background In January 2022, the Hordaland District Court issued a decision that authorised the Competition Authority to conduct a dawn raid and seize evidence at Kommunal Landspensjonskasse Mutual Insurance Company (“KLP”). The dawn raid was carried out in February 2022. The seizure included, among other things, electronic material produced by KLP’s in-house lawyers ...
Insurance disputes are a timeless topic. However, in difficult economic times, the number of insurance disputes tend to increase. Our Dispute Resolution practice hosted a webinar on 17 September 2024 on the current trends in insurance disputes and shared their views on the challenges different parties may face in such disputes. The webinar also addressed practical strategies for managing disputes effectively. We have summarised the key topics of the webinar in the article below ...
October 8, 2024 By: John L. Hosack and Jason E. Goldstein In a victory for all insureds who have title insurance policies, and possibly a victory for insureds under other real property related insurance policies, the California Court of Appeal in Tait v. Commonwealth Land Title Insurance Company (2024) 103 Cal.App.5th 271, 277 (rev ...
PROOF OF INCAPACITY: ANALYSIS OF CIUSSS DE L?OUEST-DE-L?LE-DE-MONTREAL (ST. MARY?S HOSPITAL CENTER) v. RC 1 Summary The authors comment on this decision rendered on September 20, 2024, in which the Court of Appeal ruled on the capacity to consent to care in the presence of a psychiatric disorder ...
The rules on the duration and termination of insurance contracts governed by Belgian law have often been found overly formalistic and complex, especially by consumers. Save for a few exceptions, the duration of non-life insurance contracts can, in principle, not exceed one year. Instead, such contracts are tacitly renewed for successive one-year periods, subject to a notice for termination or objection to the tacit renewal being made by one of the parties ...
In a long-awaited decision, the Pennsylvania Supreme Court has held that “direct physical loss” language in commercial property policies is not ambiguous and that COVID-related business-interruption claims do not trigger the insuring clause of these policies. Based on this ruling, business interruption claims filed for losses caused by pandemic-related closures are not covered under standard commercial property policies ...
By: Richard C. Giller, Esq. Late Thursday, September 29, Hurricane Helene made landfall in Florida as a Category 4 storm. Before that, Helene’s winds created a dangerous storm surge that began wreaking havoc all along Florida’s gulf coast, particularly the Big Bend region, which experienced surges up to 15 feet ...
On September 8, 2024, the Ministry of Commerce, together with the National Health Commission and the National Medical Products Administration (hereinafter referred to as the "Three Departments"), publicly issued theNotice on Carrying Out Pilot Programs to Expand Opening-Up in the Healthcare Sector(hereinafter referred to as the "Notice"), announcing that,effective immediately, foreign-invested enterprises are permitted to engage in the development and application of human stem cells, gene diagno
On August 28, 2024, the National Medical Products Administration (NMPA) released the Medical Device Administration Law (Draft for Comment) (hereinafter referred to as the "Draft") for public comments ...
China's pharmaceutical industry is witnessing a notable surge in "pipeline spin-off projects", a model commonly referred to as the "Spin-off-NewCo" or "SON" model. Within the past two months, we've been advising on nearly ten SON projects. Leading pharmaceutical companies in China are more frequently adopting the SON model to separate parts of their pipelines into new, independent companies ...
On the 9th of July 2024, the MFSA published a Circular setting out its expectations with regards to the requirements listed in paragraph 6 ...
Cyber reporting requirements for Bermuda insurers, insurance managers and insurance intermediaries following the CrowdStrike faulty software update Key reporting obligations Prompt notification Bermuda insurers, insurance managers and insurance intermediaries (including brokers, agents and insurance marketplace providers) (each, a "Registered Person") must forthwith notify the BMA upon coming to the knowledge, or having a reason to believe, that a cyber reporting event has occurred ...
Introduction On July 2, 2024, the Superior Court rendered a decision in Lallier c. Société d?assurance Beneva inc.,1 ruling on an insured?s claim against his insurer for an insurance benefit further to a loss, as the insurer had denied coverage, alleging the insured?s intentional fault. Despite the absence of hard evidence of the insured?s intentional fault, the Court ruled in favour of the insurer based on evidence established by presumption ...
Recently, the Ohio General Assembly passed a bill, Substitute S.B. 40, which will enter Ohio as a party to the new Dentist and Dental Hygienist Compact, and ultimately allow dentists and hygienists practicing in other compact states to practice in Ohio. This summer, the compact will form its commission, and will continue to work on operationalizing into 2025 before officially opening privilege applications ...
Introduction The EU Deforestation Regulation (‘EUDR’) waspublishedin the Official Journal on 9 June 2023 and entered into force on 29 June 2023,marking the start of its implementation phase. As the EU legislator has adopted a decentralized enforcement approach, Member States need to set up the necessary legal frameworks to fulfil their enforcement duties under the EUDR ...
A recent Supreme Court decision means that owners of closely held companies with company-owned life insurance policies should take extra precautions to avoid an unexpectedly large estate tax bill from the IRS. On June 6, 2024, the Supreme Court of the United States decided in Connelly v ...
In recent years, the regulatory framework for human genetic resources ("HGR") in China has become increasingly mature ...
China's National Medical Products Administration (NMPA) released the 2023 Drug Review Annual Report on its official website on February 4, 2024, closely followed by the 2023 Medical Device Registration Annual Report on February 5. According to the public information, more than 60 innovative drugs have been approved by NMPA from 2022 to 2023, and a total of 61 innovative medical devices have been approved in 2023 ...
Over a period of less than 24 hours on the 16thof April, the United Arab Emirates experienced its heaviest rainfall since records began 75 years ago, with sources recording a years’ worth of rain falling in one day. The record-breaking rains created destructive flooding and chaos. Properties in the UAE were under attack by natural elements – rain, wind and flood. Many suffered from severe flooding, rising groundwater, and water through the walls and windows as well as through roofs ...
On 21 September 2023,the EU Court of Justice (‘CJEU’) handed down its ruling in the Apotheke B. case (C-47/22), and it is a good example of the high threshold set by the EU Court of Justice to uphold the Community Code’s main aim of protecting public health ...
Early last week, the UAE experienced its most severe rainfall in the past 75 years. A large number of homes and business premises across the UAE suffered damage from the effects of the rain or floods, including the many motor vehicles that were stalled or otherwise impaired ...
