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Brazil: Insurance on Demand Authorized by Federal Agency Responsible for Control of Insurance Market

(Oct. 7, 2019) On August 26, 2019, Brazil’s Superintendence of Private Insurance (Superintendência de Seguro Privado, SUSEP), issued Act (Circular) No. 592 (Circular SUSEP No. 592, de 26 de Agosto de 2019), which authorizes “on demand” insurance policies.  Such policies may have terms of months, days, hours, minutes, or may even lack a defined deadline, […]

Argentina: New Decree Requires Insurance to Cover Environmental Damage

(July 31, 2019) On June 28, 2019, Argentina’s president issued a decree requiring public or private businesses and individuals that carry out activities posing a risk to the environment or the country’s ecosystems to contract for surety insurance for environmental damage. (Decreto Nacional 447/2019, art. 1, BOLETIN OFICIAL (official gazette), June 28, 2019.) Decree 447/2019 […]

Great Britain: Technology Bill Introduced to Regulate Driverless Cars, Increase Penalties for Misuse of Lasers

(Mar. 21, 2017) The Vehicle Technology and Aviation Bill 2017 was recently introduced in the British Parliament. The aim of the bill is to modernize transportation policies and laws in the United Kingdom.  The bill addresses the misuse of lasers, the liability of insurers of automated vehicles, the infrastructure to support electric vehicles, and air […]

Italy: Civil Liability of Port Pilots

(Dec. 30, 2016) On January 3, 2017, new legislation on the civil liability of port pilots will enter into effect in Italy.  (Law No. 230 of December 1, 2016, Amendments to the Navigation Code Concerning the Civil Liability of Port Pilots and Technical-Nautical Services (Law No. 230), NORMATTIVA (in Italian).)  Port pilots are responsible for […]

Israel: Uniformity of Student Personal Injury Insurance

(Aug. 5, 2016) On July 26, 2016, the Knesset (Israel’s parliament) passed the Personal Injury Insurance for Students (Amendment) Law, 5776-2016 (Amendment Law) (Knesset website (scroll down and click on issue No. 649 to view) (in Hebrew)).  The Amendment Law amends the Mandatory Education Law and the Municipalities Ordinance. (Mandatory Education Law, 5709-1949 (as amended) […]

Iran: New Insurance Law Provides for Equal Compensation to Women in Traffic Accidents

(Apr. 11, 2016) It was reported on March 15, 2016, that Iran’s Guardian Council, a 12-member body that vets legislation to ensure it conforms to Shari’a law, had approved the Third Party Insurance Bill. The legislation, which is expected to become effective in the near future, “will bind insurance companies to compensate victims of road […]

Italy: Comprehensive Legislation on the “Green Economy”

(Feb. 24, 2016) On December 28, 2015, Italy passed historic and wide-ranging legislation for the promotion of the “green economy.” Law No. 221 entered into effect on February 2, 2016.  (Law No. 221 of December 28, 2015, Provisions on the Environment to Promote the Green Economy and to Restrict the Excessive Use of Natural Resources […]

Israel: State Funding of Child Savings Accounts

(Jan. 13, 2016) On November 18, 2015, the Knesset (Israel’s parliament) passed legislation providing for the transfer of funds by the National Insurance Institute (NII) into child savings accounts (CSAs).  (Economic Improvement (Amendments for Reaching Budget Goals for Budget Years 2015 and 2016) Law, 5776-2015, §§ 28–29, SEFER HAHUKIM [BOOK OF LAWS (the official gazette), […]

Indonesia: Circulars Issued on Bank Accounts for Foreigners, Other Financial Services

(Sept. 18, 2015) Indonesia’s Financial Services Authority has recently issued a number of regulations and circulars, including a Regulation on Framework Provisions on the National Economic Stimulus for Banks (Regulation No. 11/POJK.03/2015) and a Regulation on Framework Provisions of the National Economic Stimulus for Islamic Banks and Sharia Businesses (Regulation No. 12/POJK.03/2015, in addition to […]

China: New Measures on Travel Liability Insurance

(Jan. 6, 2011) On November 25, 2010, the National Tourism Administration (NTA) and the China Insurance Regulatory Commission (CIRC) issued the Measures on the Administration of Travel Agency Liability Insurance. The Measures, which will be in effect as of February 1, 2011, include provisions on the process of taking out insurance, compensation, supervision and inspection, […]