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Category Archives: Russia

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Posted in Asia, European Union, France, Germany, Italy, Latin America, Market developments, Poland, Russia, Spain, The Netherlands, UK, USA

Evolution: Shaping Regulation, Unlocking Growth

Last year, Hogan Lovells and FT Remark interviewed 240 senior decision-makers from public companies across the globe, as part of a research project titled ‘Evolution: Reigniting the Global Economy’. That research highlighted the impact that legislators and policy makers have on businesses in every sector, in every one of the world’s markets — and the

Posted in Asia, European Union, France, Germany, Italy, Latin America, Poland, Regulatory and legislative updates, Russia, Spain, The Netherlands, UK, USA

The EU and US step up trade sanctions against Ukraine and Russia

The EU and US have significantly stepped up trade and investment sanctions against the Ukraine and Russia in recent days in light of the on-going political instability in Eastern Ukraine.  For details on the sanctions regime previously in force, see our blog post of March 26.  The key new measures are outlined below.

Posted in Regulatory and legislative updates, Russia

The Russian Insurance Regulator is contemplating a new supervision initiative

Just after assuming powers as the new Russian Insurance Regulator late 2013 and completing the internal re-organisation of the insurance department in March 2013, the Russian Central Bank is contemplating the initiative of sending its supervisors (so called curators) to the Russian insurance companies. The precise mechanics has not yet set clear but it is

Posted in Asia, France, Germany, Italy, Market developments, Poland, Regulatory and legislative updates, Russia, Spain, UK, USA

Sanctions against Ukraine and Russia: Insurance/Reinsurance implications

The European Union (EU) and the United States (US) have now both taken targeted action against Russia (and certain former members of the Ukrainian government) to address the evolving situation in Ukraine. These measures do not yet impose broad-based country sanctions on Russia. As things stand, both the EU and US have designated a number of

Posted in Asia, European Union, France, Germany, Italy, Market developments, Poland, Russia, Spain, UK, USA

Additive risk: Insurance and 3D printing

Human organs, guns and high heels are just a few objects manufactured using the fast-evolving technology of additive manufacturing, or 3D printing. There has been burgeoning interest in it as its cost has tumbled and cottage manufacturing has become reality. Increased demand for 3D printing entails increased risk. The novelty of this technology means that

Posted in Asia, European Union, France, Germany, Italy, Market developments, Poland, Russia, Spain, UK, USA

Global Bribery and Corruption Review 2013

Our fourth annual Global Bribery and Corruption Review is designed to bring you up to date on all the latest developments in the area of anti-bribery and corruption regulation and enforcement. In this latest issue, we review the continued global effort to combat bribery and corruption in 2013. In the United States, reaffirming the government’s

Posted in Regulatory and legislative updates, Russia

The Russian Central Bank receives authority as a new insurance regulator

On 1 September 2013, the Russian Central Bank assumed powers as a new Russian insurance regulator from the Federal Service for Financial Markets. This transition makes the Central Bank de facto a mega-regulator overseeing and supervising the Russian banking system, securities markets, private pension funds and insurance business. Notably, its predecessor, the Federal Service for

Posted in Asia, European Union, France, Germany, Italy, Poland, Regulatory and legislative updates, Russia, Spain, UK, USA

Third Party (Rights Against Insurers) Act 2010 – why the delay?

The Third Party (Rights against Insurers) Act 2010 was given Royal Assent in March 2010 but has yet to come into force 4 years later. What is the delay? Given the anticipation with which claimants are awaiting the provisions to come into force, we have provided a recap below on how this Act will differ

Posted in Asia, European Union, France, Germany, Italy, Poland, Russia, Spain, UK, USA

Welcome to the Hogan Lovells Global Insurance Blog

We are delighted to welcome you to this blog dedicated to reporting on developments in the global insurance and reinsurance markets. Our blog brings together our expertise from across the globe to provide you with the latest legal developments in this market and will focus on topical developments in a commercially useful and easily-digestible form.

Posted in Regulatory and legislative updates, Russia

Russia substantially improves the portfolio transfer rules

The rules governing a transfer of the portfolio have always been in the Federal Law “On Organisation of Insurance Business in Russia” No. 4015-1 of 27 November 1992 (the “Russian Insurance Business Law”); however, they have rarely been used in practice for the voluntary transfer of part of the insurance business between market players. In