The Legal 500: 2nd Edition Insurance & Reinsurance Comparative Guide

Michael Kortbawi and Raghad Hammad contribute to the UAE Chapter of  The Legal 500: 2nd Edition Insurance & Reinsurance Comparative Guide. This country-specific Q&A gives a pragmatic overview of the law and practice of insurance & reinsurance law in the United Arab Emirates (UAE). It addresses topics such as contract regulation, licensing, penalties, policyholder protection, alternative dispute resolution as well as personal insight and opinion…

Building fires send insurance cost through the roof

Increased insurance cost due to fires in towers means high prices for flat owners. Dubai: Billions of dirhams in losses from a spate of spectacular skyscraper fires in Dubai and Sharjah have prompted insurance companies to increase premiums on building owner associations and managing developers four fold, heard delegates at the Smart Skyscrapers Summit in…

Lost in Translation

As a market participant, it is crucial to effectively communicate with the regulator to avoid pitfalls that arise out of misunderstandings with regard to expectations and applicable standards, explains Barry Greenberg. Anyone engaged in the UAE insurance market, whether on behalf of an insurer, claims administrator, broker, advisor, or other capacity, is aware that the…

Insurance event in London

Speaker at Insurance event organised by Reynolds Porter Chamberlain (RPC). Held in London on 1 June 2016. Topic: Insurance in Iran Speaker: Michael Kortbawi, Partner The topics of discussion were: Relevance of Iran – demographics, econnomics and insurance players Legal framework for insurance in Iran – laws, takaful and sanctions The audience will be made…

DIFC Insurance Regulations – Proposed Amendments

The Dubai Financial Services Authority (DFSA), which regulates all Financial Services within the Dubai International Financial Center (DIFC), in November, 2015, issued its Consultation Paper No. 103 (CP103), proposing changes in how entities engaged in providing insurance related products and services will be regulated. This is of keen interest to all entities that provide such…