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Category Archives: Spain

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

Recognition for Hogan Lovells’ Insurance Team from Who’s Who Legal 2015

Who’s Who Legal has just released its Insurance & Reinsurance 2015 Analysis, “a comprehensive analysis of the market, featuring 559 leading practitioners from 280 firms across 58 jurisdictions”, that highlights Hogan Lovells’ top international insurance practice.   As the Analysis points out, “[o]nly a relatively small number of law firms can boast a global network of

Posted in Regulatory and legislative updates, Spain

Spain: Financial Credit Establishments – New Insurance Brokers

Last 28 April 2015 the Spanish Official Gazette published the Act 5/2015, dated 27 April 2015, on Promotion of the Corporate Finance. One of the modifications introduced by Act 5/2015 was the new legal regime envisaged for Financial Credit Establishments (EFCs), entities created to carry out specific credit and loan operations (such as leasing, factoring,

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

Jurisdiction and Governing Law Rules in the European Union

To help litigants navigate those rules and avoid missing tactical opportunities at an early stage in a dispute, we have prepared a note which summarises the three key European Union Regulations and provides easy to navigate flow charts.

Posted in Market developments, Regulatory and legislative updates, Spain

Spain: Impact of Solvency II in the Insurance Companies’ Equity Capital

The Preliminary Draft of the Insurance and Reinsurance Entities’ Organization, Supervision and Solvency Act which will transpose into Spanish Law the Directive 2009/138/CE (Solvency II) was recently published introducing important developments regarding the current legislation. As foreseen in the Directive, the three pillars are the known ones:(i) capital requirements, (ii) the new supervision system for a

Posted in European Union, France, Germany, Italy, Poland, Regulatory and legislative updates, Spain, The Netherlands, UK

EU: IMD2 – Where are we now?

Progress has been made recently with the Council of the European Union agreeing its general approach on the Insurance Mediation Directive 2 (“IMD2”) on 5 November 2014. This allows negotiations to begin with the European Parliament. The European Commission originally presented a proposal for a revised insurance mediation directive in July 2012 and, following initial

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

Ebola: insurance under the microscope

Ebola continues to devastate West Africa.  Over 14,000 cases including 5,000 deaths have been reported. Whilst the threat of a global outbreak remains relatively low, this crisis and the recent discovery of avian flu in Britain have again brought to the fore the exposure the (re)insurance industry has to pandemics. Prudent (re)insurers should use this

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

Global Insurance Seminar and Webinar Programme 2014/15

The Hogan Lovells Global Insurance Seminar and Webinar Programme for 2014/15 was launched in March. We have since put on a series of seminars and webinars covering topics of interest to our insurance and reinsurance clients around the world, hosted by our local insurance specialists. Click here for more information.  

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

When do insurers need to charge themselves VAT?

This article was first published in Global Reinsurance Magazine on 30 September 2014 and is reproduced in the blog with kind permission of the publishers. The answer lies in the findings of a recent case at the European Court of Justice. The case found that when a company’s head office supplies services from a third

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

What the future holds for reinsurance arbitration clauses

This article was first published in Global Reinsurance Magazine on 14 August 2014 and reproduced in the blog with kind permission of the publishers. The time-honoured reliance on arbitration to settle disputes is under threat as reinsurance contracts evolve. Is the use of arbitration to settle disputes fading in the international reinsurance market? While confidentiality

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

Emerging risk: Arctic exploration, drones, bitcoin and artificial intelligence

This article was first published in Global Reinsurance Magazine on 1 August 2014 and reproduced in the blog with kind permission of the publishers. The world is ever changing.  Change creates opportunity but with opportunity comes risk. With this, underwriters, brokers, risk analysts and others face new challenges.  Some new risks, like cyber security, receive a

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

EU and US Dialogue Project

In 2012 a formal dialogue was initiated between the EU and the US with the objective of enhancing understanding and cooperation for the benefit of insurance consumers, business opportunity and effective supervision. In December 2012, following a year of collaboration, the project published the EU-U.S. Dialogue Project Technical Committee Reports Comparing Certain Aspects of the

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

*SAVE THE DATE* – Global Insurance Seminar and Webinar Programme 2014/15

We are pleased to announce that the third webinar in the Hogan Lovells Insurance Seminar and Webinar Programme 2014/15 will take place on Wednesday 10 September 2014 at 9:00 (PDT)/12:00 (EDT)/17:00 (BST). The seminar will cover: Fundamentals of Bad Faith Litigation in California: New Developments Click here for further information.

Posted in European Union, France, Germany, Italy, Poland, Regulatory and legislative updates, Spain, The Netherlands, UK

EU: Insurance Block Exemption – European Commission seeks views on its future

The current Insurance Block Exemption Regulation (IBER) expires on 31 March 2017, and the European Commission is required to report to the Council and European Parliament by March 2016 on the functioning and future of the IBER. To facilitate the preparation of this report, the Commission has issued a consultation seeking views on the IBER,

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 European Union, France, Germany, Italy, Market developments, Poland, Spain, UK

EU: EIOPA’s Expectations of manufacturers and distributors of insurance products

In the UK, there has been a lot of activity in relation to ensuring the protection of consumers buying general insurance products. On the back of the (relatively new) Consumer Insurance (Disclosure and Representations) Act 2012, there have been a number of FCA initiatives for increasing consumer protection and fairness and it can be said

Posted in Case reports, Spain

Recent developments in Spanish Case Law as regards compensation in cases of Lawyer´s liability

In the Spanish jurisdiction how to calculate lawyer´s civil liability has always been a controversial issue. The key question is, if the professional makes a mistake, is the client´s right of defense damaged or is there only an infringement of a contractual relationship with the obligation to pay a compensation for damages?

Posted in Latin America, Market developments, Spain, UK

Claims Control: Challenges and trends for Latin American insurers working with the London Market

This article was first published in Actualidad Aseguradora América Latina no. 7, April 2014, and reproduced in the blog with kind permission of the publishers. Claims control is one of the striking features of reinsuring through the London market. It brings with it a tension: the reinsured in the position of a go-between whilst London

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 Case reports, Regulatory and legislative updates, Spain

Spain: Does an excessive use of the health insurance double the insurance premium?

Several studies maintain that an increase in the use of the health cover is lately provoking sensible rises of the insurance premiums. The first consequence of this fact is a general discontent of the policy holders and the subsequent launching of the debate on whether these premium rises are lawful or not. The aforementioned premium

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