Background – A New Dimension in Cargo Theft Cargo theft has changed significantly in recent years. While physical break-ins or robberies were previously the main focus, the risk is increasingly shifting to the digital space. Particularly notable is the rise of so-called phantom carriers or fake carrier. These are not conventional thieves, but professionally [...]
Since 2024, Brazil has had a new general insurance law. The law consolidates several legal provisions and existing market practices. All lines of insurance are subject to the law (except health insurance). In fact, the law lacks clarity on several issues, which is expected to lead to various conflicts that will need to be [...]
The Chinese government has recently announced a new regulation governing the supervision of the insurance industry, with several key provisions taking effect from November 1, 2025. Motor insurance is excluded from the new regulation. Among these, the introduction of the “Cash Before Cover” requirement will have a particularly significant impact on day-to-day operations for [...]
The French government, in its latest Finance Act 2025 (Law no. 2025-127 of February 14, 2025 and Decree no. 2025-135 of February 14, 2025), has decided to increase the insurance tax on fire cover from 7% to 12%. This concerns property permanently and exclusively assigned to professional use, with the exception of the following [...]
The new regulation will become effective per 31st of March 2025 and companies registered in Italy, including Italian branches of foreign entities, must secure Property coverages for natural disasters as of 31th of March 2025. Who is subjected to take out the new insurance obligation: All Italian companies as well as Multinational Companies with [...]
Major Update on the Liberalization of India's Insurance Sector: FDI Cap Raised to 100% We are pleased to share an important development in the Indian insurance sector following the Honourable Finance Minister's announcement on February 1, 2025. The Foreign Direct Investment (FDI) cap has been increased from 74% to 100%, marking a significant step [...]
On January 21, 2025, an increase of 1% in employer contributions to mandatory social insurance took effect in Bahrain, bringing the total employer contribution to 17%. Employee contributions will remain unchanged at 8%, with 7% allocated to social insurance and 1% to unemployment coverage. Voluntary insurance contributions will also rise by 1%, reaching a [...]
As of January 15, 2025, contractors and planners in Hungary will be legally required to take out liability insurance in order to carry out their activities. Please ensure that you make the necessary arrangements in time. The basis for calculating the premium for liability insurance for contractors and planners is the net turnover from [...]
We would like to inform you about significant developments in the pricing of Property and Business Interruption Insurance policies in the Indian market, effective for policies incepting from January 1, 2025, or later. While the announcement of “de-tariffing” from April 1, 2024, initially brought temporary price reductions, it has become evident that these pricing [...]
Starting on January 1, 2025, Finland will implement the Finnish Environmental Damage Fund, ensuring compensation for environmental damage caused by specific high-risk activities. This initiative aims to shift the financial burden of such damages away from taxpayers and onto the businesses responsible, promoting accountability and sustainability. The fund will be financed through environmental damage [...]