Content Types: ArticleRegions & Countries: United Arab EmiratesUnited KingdomServices: Legal
On 15 January 2021 the UK Supreme Court handed down its decision on the test case brought by the UK’s Financial Services Authority (FCA) on behalf of UK policyholders. The Supreme Court largely found in favour of the issues on which the FCA chose to appeal. As a result, the 21 sample business interruption wordings considered by the Supreme Court will provide cover to policyholders for a meaningful portion of their COVID-19 business interruption...
Content Types: ArticleRegions & Countries: United Arab EmiratesIndustries: Real Estate & ConstructionServices: Legal
Law No. 19 of 2020 amends Article 11 of Law No. 13 of 2008 concerning Interim Registration in Dubai. The amendment deals mainly with the circumstances in which a challenge to a previous decision by Dubai Land Department, cancelling a sale and purchase agreement registered on the interim register, can be brought (noting that such a challenge is not permitted where such decisions were undertaken in compliance with relevant laws).
Content Types: ArticleRegions & Countries: United Arab EmiratesIndustries: Sports & LeisureServices: Legal
As sporting activity recovers from the pandemic and resumes in the UAE, and indeed globally, it remains imperative to be mindful of potential COVID-19 transmission risks inherent in each sport. These risks should be appropriately identified, accounted for and addressed. This article examines some such risks and considers measures being taken across the sports industry to facilitate safe resumption of activity.
Content Types: ArticleRegions & Countries: United Arab EmiratesUnited KingdomIndustries: Logistics & TransportationInsuranceServices: Legal
On 15 September 2020 the High Court of England and Wales issued a ruling in a test case brought by the UK’s Financial Services Authority (the FCA). The purpose of the test case was to provide clarity on the application of certain business interruption clauses in the context of the COVID-19 pandemic.
Content Types: ArticleRegions & Countries: United Arab EmiratesIndustries: Banking & Finance
The UAE, like its GCC neighbours, saw its 2020 economic forecast cut sharply by a 6.6% contraction as a result of low oil prices and the COVID-19 pandemic. This week we analyse the repercussions of the decline on the state's budget and debt burden, while discussing the effectiveness of the UAE’s response. The UAE is once again having to reinvent itself, as Singapore has done on multiple occasions.
Content Types: ArticleRegions & Countries: United Arab EmiratesIndustries: Banking & FinanceInsurance
The UAE Cabinet issued a decision merging the Insurance Authority (the “IA”) with the Central Bank of the UAE (the “CBUAE”). The aim of this decision is to develop and boost the insurance industry’s role in supporting the national economy, encourage fair and effective competition within the industry, and to deliver the best insurance services and coverage at competitive rates.