Posted in Insurance Law

Research Handbook On International Insurance Regulation And Regulation

insurance lawOur international specialists advise insurers, reinsurers, intermediaries, brokers and different financial services firms in this sector on corporate insurance, listings, M&A, regulatory issues, restructuring and insolvency, litigation, capital markets and employment. Double insurance coverage means such insurance coverage whereby an applicant enters into separate insurance coverage contracts with two or extra insurers on the same subject material of insurance, the identical insurable interests and the same insured occasion.

Article 111 Pursuant to the stipulations of the preceding article, within the occasion that an insurance company fails to appropriate the scenario within the prescribed interval, after it has been directed to take action by a decision of rectification of the insurance coverage supervision and control authority, the latter division shall then choose insurance professionals and designate relevant personnel from the insurance coverage company to form a rectification process drive to carry out the rectification work of the said insurance company.

Article fifty four If the age of the insured will not be accurately given by the applicant, and the actual age of the insured doesn’t fall within the age restrict specified by the contract, the insurer may terminate the contract and refund the premiums to the applicant after deducting service cost.… Read More

Posted in Insurance Law

How To Know You Are Ready for a Horse

Horses make great animal companions but they are also a huge responsibility. Bringing a horse home may be a dream come true for you, but before you make the commitment, you need to be sure you are ready to be a horse owner. Perform these three steps to ensure you are ready for the heavy responsibility of horse ownership.

Make Sure You Can Afford The Costs

Horses are expensive even if you don’t plan on competing on them. Not only do you need tack and high-quality food, but you also need to make sure you can afford vet bills if your horse gets sick or hurt. You may want to get a horse insurance quote to give you peace of mind on how to offset the cost when you do need to see a vet.

Check Land Requirements

If you want to keep your new pet on your property, you have to ensure it is properly prepared. You need approximately two acres of land per horse to give them adequate grazing room, and you also need to provide some sort of shelter. Finally, the entire pasture should be surrounded by a high wooden or metal fence to keep the horses … Read More

Posted in Insurance Law

Open Entry Articles

insurance lawInsurance coverage is the apply of hedging against monetary threat; the practice and its fallout require lots of authorized work. However, the insurer shall, as regards the insurance premiums already paid by the applicant, return the cash value thereof in accordance with the insurance coverage coverage. Until specified in any other case in the contract, the insurers involved shall undertake their respective obligation for indemnity within the proportion, which the sum insured by each of them bears to the total amount of the sum insured.

Article 86 An insurance firm shall be eliminated in line with regulation in the event that its insurance license is revoked by the insurance supervision and control authority because of its violation of legislation, or administrative guidelines and regulations.

The insurance supervision and management authority may modify the quantity of the minimum registered capital, in accordance with the proposed scope of business and scale of operations; however, the minimum capital shall not be less than that stipulated within the first paragraph of this Article.

Article 125 An insurance agent is an entity or person that has been approved by an insurer to transact insurance coverage business on its behalf within the scope of authorization and … Read More