Insurance and Reinsurance

Short Reads - The coronavirus will impact almost all aspects of the insurance sector and will trigger many insurance policies. It is important to analyse your insurance policy terms and conditions and to determine whether and to what extent you are covered.

Seminar - Join us for a seminar on recent developments in Insurance Law on 3 October, 2019 at our Brussels office from 12:00 pm to 5:00 pm.

Articles - La loi du 31 mai 2017 relative à l’assurance obligatoire de la responsabilité civile décennale des professionnels de la construction a été publiée au Moniteur belge du 9 juin 2017. Cette loi impose aux entrepreneurs, aux architectes et autres professionnels de la construction de faire assurer leur responsabilité décennale découlant des articles 1792 et 2270 du Code civil.

Short Reads - The PRIIPs Regulation introduces the so-called Key Information Document (the so-called “KID”) which will have to be provided to retail consumers when they buy retail and insurance-based investment products. These include asset management products and other "packaged" investment products sold by banks or insurance companies.

Articles - A warranty & indemnity (W&I) insurance covers damage resulting from breaches of warranties given in the SPA by the seller. W&I insurance has been around for many years, but it has become increasingly popular in the last few years. According to Lockton, “recent statistics suggest that over 50% of corporate real estate transactions in Europe now use W&I insurance, a large driver for this has been the adoption of a EUR 1 cap on sellers’ liability under the SPA.”

Articles - The Grand-Ducal Regulation of 15 February 2019 on the registration, payment of administrative fees and access to information recorded in the register of beneficial owners (the “RBE Regulation”) entered into force on 1 March 2019 and depicts the practical aspects of the Law of 13 January 2019 establishing a beneficial owner register (the “RBE Law”). Another document, the LBR Circular 19/01 (the “Circular”) issued by the Luxembourg Business Registers on 25 February 2019  further describes the new register of beneficial owners (the “RBE”) with the aim of helping users. 

Articles - In 2013, the European Commission adopted a Recommendation on Collective Redress. It invited Member States to adopt a collective redress framework by July 2016 that would include the features mentioned in the Recommendation and then by July 2017, to report to the Commission about the extent to which they had done so. On the basis of the Member States’ report, the Commission will assess whether further actions by the EU is required.

Inside Stibbe - From Monday 20 June 2016 we will be located in our brand new office building at Beethovenplein 10.