Asia Business Law Journal’s Post

Rajah & Tann Thailand has strengthened its shipping and insurance practice groups with the hiring of a team from Chandler MHM in Bangkok, onboarding partner Ittirote Klinboon, counsel Rawi Mechvichai and senior associate Toon Thanakham. “The new team allows us to further broaden the scope of our capabilities in complex cross border deals and disputes, while also reinforcing our advisory services in areas such as regulatory compliance and risk management,” co-managing partners at Rajah & Tann Asia Supawat Srirungruang and Melisa Uremovic told Asia Business Law Journal. https://lnkd.in/gMtNMBuq

Dear colleagues, Exciting news! The bilingual version of the new insurance Law has been prepared in-house by the Tokio Marine Egypt General Takaful Legal and Compliance team. This valuable resource is now available to assist you in navigating the legal landscape more effectively. I would like to extend a special acknowledgment to my dedicated team members, Mahmoud Medhat and Mohamed Bashandy, for their outstanding efforts in making this project a success. #TeamWork #LegalCompliance #InsuranceLaw #TokioMarineEgypt #GeneralTakaful #law #insurance #compliance #Egypt

A comparison of updates on eligiblity criteria in Japan and subrogation in India. Featured lawyers include: Mandakini Khanna, Arjun Masters and Mansa Shukla at Tuli & Co in Noida; Takuya Oshida, Tatsuya Nakayama and Masashi Ueda at Nishimura & Asahi in Tokyo. Check out Asia Business Law Journal for more legal expert analysis. 📢 Join our membership: https://lnkd.in/ed_d3FHt #ablj #asia #india #japan #insurance #finance #corporatelaw #legaladvice #inhousecounsel #business #legalprofession #lawfirms #lawyers #legal #law #lawdotasia  

London-based international law firm RPC has elected Hong Kong-based Asia managing partner, Antony Sassi, as its new global head, with the appointment underscoring its continued commitment to Asia, the firm has told Asia Business Law Journal. Sassi is set to succeed managing partner and insurance practice veteran James Miller on 1 May 2025 for a four-year term, and will relocate to London to serve in his new role. In August 2023, RPC restructured the management of its Asia offices with the appointment of partner Charles Allen FCIArb as Hong Kong office head, and partner Navin Joseph Lobo as Singapore office leader. In June last year, the UK firm hired M&A specialist Kiat Wee Lau to boost its corporate practice in the Lion City. In Hong Kong, RPC strengthened its commercial disputes practice by adding partner Ivan Chang to the bench in September to bolster general dispute resolution and contentious regulatory work. 👉 Sign up for the latest updates in the legal industry: https://lnkd.in/gE3VgXQx #ablj #asia #hongkong #singapore #disputeresolution #commerciallaw #insurance #finance #corporatelaw #legalnews #inhousecounsel #business #legalprofession #lawfirms #lawyers #legal #law #lawdotasia

Insurance and law have a close relationship. Insurance is an agreement between two parties, namely the insurer and the insured. An insurance agreement is an agreement regulated in civil law. Apart from that, insurance is also regulated in statutory regulations, such as Law Number 40 of 2014 concerning Insurance. Law has an important role in insurance, namely: • Guarantee certainty for both parties in the insurance agreement. • Protect the legal rights and obligations of the parties in the insurance agreement. • Resolving disputes The law can be used to resolve disputes that arise. Insurance law in Indonesia is regulated in Law Number 40 of 2014 concerning Insurance. This law regulates general insurance provisions, types of insurance, insurance companies and other Financial Services Institutions (LJK) related to insurance. #asuransi #hukumdanasuransi #insuranceInsightchannel

IMO’s Legal Committee has finalized a new set of guidelines to ensure seafarers are protected against unfair treatment if detained in foreign jurisdictions on suspicion of committing a crime.   The fair treatment of seafarers was high on the agenda of the Legal Committee’s 111st session, which took place from 22 to 26 April at IMO headquarters in London.   The guidelines are to be applied where seafarers may be detained in a jurisdiction other than that of the seafarers' nationality on suspicion of committing crimes during the course of their employment on board a ship. They aim to protect seafarers’ right to due process during investigation and detention by public authorities.    The guidelines contain guidance for port States, flag States, coastal States, States of which the seafarer is a national, shipowners and seafarers.    The finalized guidelines will be submitted as a base document to the Joint ILO/IMO Tripartite Working Group to identify and address seafarers' issues and the human element (JTWG) for further refinement. The JTWG will then submit the guidelines to the Legal Committee and to the ILO Governing Bodies for endorsement.   New task force to review abandonment database     The Committee established a new Task Force to review and update or redevelop the joint ILO/IMO abandonment database, to enhance accuracy and efficiency of the platform.   The ILO/IMO database contains regularly updated information on vessels and seafarers that have been reported as abandoned worldwide. Seafarer abandonment happens when shipowners fail to fulfil obligations to seafarers related to timely repatriation, payment of outstanding wages or salary, and even the provision of basic necessities such as food, accommodation and medical care.     An upgrade of the system would enhance data accuracy and monitoring capabilities and support the swifter resolution of abandonment cases. This will support the implementation of the Guidelines on how to deal with seafarer abandonment cases, adopted at LEG 110.   The Task Force will submit a report to the JTWG, who will then conduct a final review and provide a clear report to the ILO Governing Body and the IMO Legal Committee for endorsement.     LEG 111 outcomes   In addition to the fair treatment of seafarers, the Legal Committee made progress on a number of major issues, including on fraudulent registration and fraudulent registries of ships, autonomous shipping, measures to assess the need to amend liability limits and guidelines for accepting Insurance Companies and Certificates.

It is increasingly apparent that one of the main challenges in the 21st century is IT security and data protection, with a shift from secrecy of information to confidentiality of data having occurred. The new #Luxembourg law dated 29 March 2024 introduces measures aiming to facilitate the process of outsourcing for (re)insurance companies, allowing IT outsourcing to NON-Luxembourg parties. Read more about what has been changed and how the new law impacts the insurance secrecy regime in the article written by Dorothée Ciolino, Counsel, Norton Rose Fulbright. #outsourcing #IT #insurance #dataprotection #lawfirm #legal Paperjam

🎉 Congratulations to our insurance team in Thailand, including Ian Johnston and Sorawat Wongkaweepairot, for winning Asia Business Law Journal's 2024 Thailand Law Firm Awards for Insurance & Reinsurance. View the full overview here 👉 https://lnkd.in/gw75xqUE #insurance #reinsurance #awards #recognition #thailand #legal #law

We’re pleased to announce the release of the latest edition of Insurance Disputes by Lexology, a comprehensive guide that sheds light on evolving insurance conflict resolution across global jurisdictions. 🔍 What's New? This edition dives into key legal frameworks, recent case law, and litigation trends impacting insurance disputes worldwide. It's a valuable resource for professionals navigating these complex issues. 🌍 Spotlight on Greece For the fourth consecutive year, Rokas Law Firm contributes expert insights on insurance disputes in Greece. Authored by Dr. Antonios Tsavdaridis (Partner) and Kosmas Karanikolas (Senior Associate), our chapter explores: 🔹 The legal landscape and recent court decisions 🔹 Emerging trends in the insurance market 🔹 Practical guidance for both local and international professionals 📰 Access the full edition on Lexology and explore the Greece chapter here: https://lnkd.in/gXpK64yv #InsuranceDisputes #LegalUpdates #Lexology

Sofia, 22 May 2024 On 21st May 2024 Multinational law firm Pinsent Masons together with the Bulgarian law firm Djingov, Gouginski, Kyutchukov and Velichkov officially filed a Request for Arbitration against the Government of Romania with the International Centre for Settlement of Investment Disputes (ICSID) in Washington on behalf of one of the largest Bulgarian publicly traded companies, Eurohold, and its insurance business Euroins Insurance Group (EIG) - a leading insurance group with solid market presence in Central and Southeastern Europe. The claim amounts to appr. EUR 500 million. On 17 March 2023, ASF, the Romanian financial regulator, withdrew the license of Euroins Romania. Eurohold and EIG challenged this move arguing that the revocation of the license was arbitrary, discriminatory, and constituted an unlawful expropriation in breach of international law. On October 25 2023, Eurohold Bulgaria and Euroins Insurance Group (EIG) sent a Notice of Dispute to the Romanian government, which is the first formal step toward initiating an international investment arbitration under the investment treaty for protection of investments, signed between the governments of Bulgaria and Romania. The arbitration signals a step change in European investment treaty law as the insurer prepares to challenge the European Union’s clamp down on investment agreements made between member states. It concerns multiple breaches on behalf of a Romanian regulator in respect of the Solvency II regime, the EU’s ‘Gold Standard’ Insurance and Reinsurance Regulation that should ensure a sound regulatory framework and consistent supervisory practices in the sector across the EU. Such arbitration will set a precedent for other EU businesses operating across the EU and could ultimately prompt a wave of disputes as they grapple with the impact of the EU’s clamp down on investment agreements between EU states. The case will raise novel and cutting-edge issues of public international law such as the ability of investors to bring claims under a sunset clause of a terminated bilateral investment agreement between two EU countries. The team at Pinsent Masons and DGKV is being led by Pinsent Masons’ co-head of International Arbitration, Sylvia Tonova and the head of Dispute Resolution and Arbitration Angel Ganev at DGKV, and partner Gergana Monovska.