Beirut Blast – You May Have Coverage for Damage

Potential Compensation Sources The tragic and catastrophic explosion that occurred in Beirut, beyond the immediate health and safety concerns, raises important and potentially time-sensitive considerations involving obtaining compensation for property damage sustained due to the blast. While all are most appropriately concerned with the loss of life and serious injuries inflicted upon the population, the…

UAE Insurance Authority & Securities & Commodities Authority Merge

BSA Ahmad Bin Hezeem & Associates LLP (“BSA”) are pleased to support the recent exciting merger of the United Arab Emirates Insurance Authority & Securities & Commodities Authority into one financial regulatory body overseeing the authorisation and regulation of insurance and investment as one regulatory body. The UAE Federal Government formally announced the merger of…

Health Insurance in the UAE – Capitation Schemes Confirmed Unlawful by the Insurance Authority

The United Arab Emirates (UAE) Insurance Authority (IA) has confirmed that capitation schemes related to the health insurance business in the UAE are unlawful and all IA, authorized and licensed entities must immediately cease the operation of such schemes. Circular No (17) of 2020 for the Cessation of Violating Practices dated 2 June 2020 (the…

Insurance Claims Management: Using the Most Appropriate Governing Law & Jurisdiction Clause in Reinsurance Contracts

Regulatory Changes for Insurance Disputes in the United Arab Emirates and the existing Insurance Dispute Committee in the Kingdom of Saudi Arabia BSA are often instructed by the London market for coverage advice pending disputes between cedant and reinsurers. Many of those treaty terms will be governed by the laws of various Middle East jurisdictions…

Electronic Insurance Regulations Issued

The United Arab Emirates (UAE) Insurance Authority recently published the Insurance Authority Board of Directors’ Resolution No. 18 of 2020 on Electronic Insurance Regulations dated 27 April 2020 (“the Regulation”). The first draft of these regulations was published in January 2019, and after public consultation and discussion, a revised draft was published in December 2019,…

Insurance Brokers – Reduction in Capital Requirements

The UAE Insurance Authority issued Board of Directors’ Resolution No. (14) of 2020 on the Amendment of Some Provisions of the Insurance Authority Board of Directors’ Resolution No. (15) of 2013 Concerning Insurance Brokerage Regulations dated 30 March 2020 (“the Resolution”). The Resolution allows, subject to a submitted application and consent of the Insurance Authority…

COVID-19 Boosts the Uptake of Tele Health/Medicine in UAE – What are the Legal Implications?

The COVID-19 pandemic presents opportunities for the tele health/medicine sector to expand the concept of remote healthcare services through technology platforms in the Middle East and beyond. Recently, the United States Federal Government is to push for telemedicine as a care option during the COVID-19 pandemic. BSA’s healthcare legal/regulatory practice often engages with numerous clients…

Do You Have Insurance Coverage for Coronavirus-Related Interruption to Your Business?

The recent emergence and rapid spread of the COVID-19 novel coronavirus has resulted in unprecedented disruptions to virtually all aspects of global and locally based commerce, as well as almost everyone’s normal routines. While we collectively and individually should now focus on protecting our personal, family, and greater community health and safety in this emergent…

Coronavirus Outbreak – Impact on Regional (Re)insurance & Coverage Issues

World Health Organisation (WHO) have officially declared COVID-19 as a pandemic. BSA have already received several instructions regarding coverage advice related to matters arising from the coronavirus. While all efforts are being made by the WHO and Governments around the world to contain the coronavirus and look to develop a vaccine, world business and trade…