To the average person, what constitutes an “accident” is likely clear. If someone trips and falls—in most instances, it would be considered an accident. If someone bumps her head getting out of a car—it’s probably just an accident. And if someone were to drop something heavy onto his foot—it would likely be deemed a careless accident ...
Bribes of $40,000 stuffed in envelopes, a flight to Europe solely to retrieve a briefcase full of cash, and a $10 million payoff to secure votes for choosing the World Cup host country are among the allegations in the recent indictment against FIFA representatives and related business associates. The indictment contains charges of racketeering, wire fraud and money laundering arising out of alleged kickbacks and bribes that the defendants gave or received ...
In the context of the Coronavirus outbreak worldwide, business and entrepreneurs are busy developing strategies and practical ways to mitigate and manage the risks associated with disruptions that may be caused as a result of the outbreak ...
The Coronavirus, COVID-19 has raised numerous important legal issues. However, one issue has assumed an even higher profile with the recent classification of the virus as a pandemic. This is the question of what claims can be made under the different insurance products on the market to cope with the losses, whether direct or indirect, that Portuguese businesses have been facing ...
The judgment of the United Kingdom Supreme Court On 1 May 2020, the Financial Conduct Authority (“FCA”), the body that oversees the insurance industry in the United Kingdom, announced that it wanted to obtain a ruling from the English courts on the meaning and effect of the sample of business interruption clauses that it selected from eight insurers in particular ...
The coronavirus is currently causing a lot of uproar. Many companies are reviewing their risks in case of infection or are trying to mitigate damage caused by canceled events and trade shows ...
One of the main rationales for using a cash box structure is that equity securities issued by PLC are issued for a non-cash consideration so that the statutory pre-emption provisions set out in the UK Companies Act 2006 do not apply. The issue can therefore take place without the timing implications of seeking shareholder approval to disapply the pre-emption rights or conducting a pre-emptive issue ...
The COVID-19 outbreak has impacted the manufacturing, transportation and supple chains underpinning countless aspects of trade and commerce on a global basis. Additionally, the shelter-in-place orders have caused nonessential businesses to shut down, resulting in many of them being unable to meet their contractual obligation. Force Majeure Whether coronavirus can be considered a force majeure depends on the wording of the provision ...
It behooves construction professionals, be they materials manufacturers, general contractors, or lower-tier subcontractors, to carry some form of commercial general liability insurance (“CGL Insurance”). Having such coverage alleviates some of the potential risk and financial exposure a construction professional carries on a particular project. That is, of course, unless the construction professional gets sued and the insurer refuses to pay ...
Earlier this year, the government released a proposal paper: Extending Unfair Contract Terms Protections to Insurance Contracts outlining a model to extend unfair contract term (UCT) provisions to insurance contracts regulated under the Insurance Contracts Act 1984 (Cth) (IC Act) for consultation. The consultation period closes on 27 July. A high level summary of the proposed model is below ...
Lenders who take legal charges over real property usually require their interest to be 'noted' on the insurance policy covering the property. However, this may not give them the protection they require, especially in the current economic climate. It is quite appropriate that lenders want to be certain that insurance arrangements covering a property used as security are satisfactory ...
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 ...
The Commission for the Financial Market (“ CMF ”), on May 28, 2020, has issued the Official Letter No. 22,260 (the “ Official Letter ”) in response to the pronouncement request sent by the Treasury Minister of the Chilean Government, Mr Ignacio Briones Rojas, to clarify the scope of the enforcement and the effects of the new article 30 of Law No. 21,227, which empowers the access to the unemployment insurance benefits provided in Law No ...
In times of emergency, the Secretary of Health and Human Services (the "Secretary") has authority to issue temporary waivers or modifications of certain Medicare, Medicaid, CHIP, and HIPAA requirements. The Centers for Medicare and Medicaid Services ("CMS") has released a substantial number of waivers in response to the coronavirus national emergency ...
In a letter to state Medicaid directors on Nov.13, 2018, the Secretary of the U.S. Department of Health and Human Services, Alexander Azar, announced a new demonstration opportunity that will allow states to provide improved care for adults with a serious mental illness (SMI) and children with serious emotional disturbance (SED) ...
On April 8, 2021, the Center for Medicare & Medicaid Services (“CMS”) announced a proposed rate increase of 1.3 percent for skilled nursing providers in fiscal year 2022. It is estimated this will result in approximately $444 million increase in payments to skilled nursing facilities (SNF) under Medicare Part A for the fiscal year. This increased payment rate does not incorporate the SNF Value-Based Program (VBP) reductions that CMS estimates to be $184 ...
The impact of the novel coronavirus (COVID-19) across the globe remains a significant concern in every aspect of business – and the representation and warranty (R&W) insurance market is no different. The following Frequently Asked Questions are designed to address some of the more common questions that have arisen since the outbreak of the pandemic.As always, advice in this area is fact-sensitive ...
In early 2022, the Autorité des marchés financiers (the AMF) conducted specific consultations on financial products offered on the Internet. Further to these consultations, the AMF published explanations on the Regulation respecting Alternative Distribution Methods (the RADM) in late December 2022 ...
Per China’s WTO commitments, the China Insurance Regulatory Commission issued the Announcement Regarding Permitting Foreign Insurance Brokerage Companies to Establish Wholly Foreign-owned Insurance Brokerage Companies on 11 December 2006 ...
Foreign insurers are currently permitted to provide services in 15 major Chinese cities; all geographical restrictions should be removed by the end of the year. Domestic insurers are now permitted to establish sales and distribution outlets in all locations where they have branches ...
