INSURANCE LAW

Insurance against losses linked to Covid and clauses concerning the administrative closure of businesses. The Court de Cassation settles the debate in favour of policyholders

Clearly, in unprecedented situations unforeseen by risk professionals, doubt has benefited insurers... until recent rulings by the Cour de cassation. During the Covid crisis, although some restaurants and shops were able to call on their cover, insurance companies refused to consider the Covid decrees as constituting ‘closures’ within the meaning of the insurance contracts that provided for them, thereby depriving these businesses of compensation.

INSURANCE LAW

MGA’s Global Study #2

We continue our study of MGA’s, which began in June 2024, in the Americas and Africa.

MGA’s (Managing General Agents) are a fast-growing category of insurance intermediaries in Europe. However, this model originated in Anglo-Saxon countries, particularly the United States, where the legal framework and practice are far more developed.

INSURANCE LAW

Arbitration clauses in brokerage agreements : the art of writing to do nothing

Arbitration clauses are becoming increasingly common in brokerage agreements between policyholders and brokers, and between brokers and insurers, yet they are not always applicable in practice.

INSURANCE LAW

New Caledonia: The Minister of the Economy to meet insurers next week

The New Caledonian Chamber of Commerce and Industry already puts the cost of riots in the archipelago at 200 million euros. The problem is that insurers have reduced their levels of cover for this type of risk, and some may invoke “civil war” as a reason not to compensate their clients.

INSURANCE LAW

Business interruption: MMA insurer ordered to compensate for Covid-related loss of business

The French Supreme Court upheld a ruling by the Angers Court of Appeal, and ordered MMA to compensate an insured for damage to his clientele during the health crisis. The policy in question provided “all risks except” coverage.

International law

Aljadeed TV welcomes the result of our action that grants French depositors the right to act against Lebanese banks before French courts.

Thanks to our colleague Karim Daher for displaying this outcome.

COMPANY LAW

The “BSA AIR”, a method of financing start-ups in times of uncertainty.

Created by the North American practice of financing start-ups, the Simple Agreement for Future Equity (SAFE) based warrant, BSA AIR in French (for Bon de Souscription d’Actions fondé sur un Accord d’Investissement Rapide) quickly crossed the Atlantic. Seductive by its ability to attract new money in the company, the tool has some limits.

COMMERCIAL AND ECONOMIC LAW

Opening up of class action, a proposal under discussion.

The locks on class action have worked too well and the procedure has not been successful at all. The need to transpose European Directive 2020/1828 has led to a reform of the texts.

International law

Aljadeed TV welcomes the result of our action that grants French depositors the right to act against Lebanese banks before French courts

Les déposants des banques libanaises sont tous signataires d’une convention d’ouverture de compte les contraignant à régler leurs différends devant le juge libanais. Les banques libanaises redoutent le procès à l’étranger et s’y opposent par le jeu de la clause attributive de juridiction. Une avancée a été obtenue pour les déposants sur le fondement de l’article 14 du code civil.