Posted in Insurance Law, IT Law

Now It’s States That Are Getting Cyber Insurance

38% of US states already have a cyber-insurance with Georgia topping the list for coverage ($100M for “only” $1,8M per year).

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Posted in Financial Law, Insurance Law

Insurance Is the Hot New Way to Avoid Taxes

Plot: an investor wants revenues and no taxes to pay. He purchases a  private-placement life-insurance policy. The insurance company plans investments in alternative assets such as hedge funds, where profits are taxed as “capital gains”, but, since these involve an insurance company (subject to certain restrictions), the dough is tax-free.

Happy ending: No levies on death benefits

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Posted in Insurance Law

A quick guide to The Enterprise Act 2016

Following the despicable outcome of  Sprung v Royal Insurance (UK) Ltd  (late payments for 4 years and insured out of the business as a consequence), the Insurance Act 2016 introduces section 13A “‘(….)if the insured makes a claim under the contract, the insurer must pay any sums due in respect of the claim within a reasonable time’”.

Applicable to any insurance contract on or after May 4, 2017.

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