Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.

Start by selecting your Topic of interest below. Then choose your Regions and finally refine the exact Subjects you are seeking clarity on to view detailed analysis provided by our carefully selected internationally recognised experts.

TOPIC

REGION

SUBJECT

Regions

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Insurance

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Legal framework

1.1

Which legislative and regulatory provisions govern the insurance sector in your jurisdiction?

1.2

Which bilateral and multilateral instruments on insurance have effect in your jurisdiction?

1.3

Which bodies are responsible for enforcing the applicable laws and regulations? What powers do they have?

1.4

What is the regulators’ general approach in regulating the insurance sector?

Insurance contracts

2.1

What are the main types of insurance available in your jurisdiction?

2.2

Are all insurance contracts regulated? What terms do they typically include?

2.3

What are the formal and documentary requirements for conclusion of an insurance contract?

2.4

What are the procedural requirements for conclusion of an insurance contract?

2.5

What are the respective obligations and liabilities of insurer and insured, both on concluding an insurance contract and during its term? What are the consequences of any breach?

Making a claim

3.1

What are the formal and documentary requirements for making a claim?

3.2

What are the procedural requirements for making a claim?

3.3

On what grounds can the claim be denied? How can the insured challenge the denial of claim?

3.4

How can third parties make a claim?

Form and structure of insurers

4.1

What types of insurance companies are typically found in your jurisdiction?

4.2

How are these insurance companies typically structured and funded?

4.3

Are there any restrictions on foreign ownership of insurance companies?

Authorisation

5.1

What authorisations are required to provide insurance services in your jurisdiction? What activities do they cover?

5.2

What requirements must be satisfied to obtain authorisation?

5.3

What is the procedure for obtaining authorisation? How long does this typically take?

Regulatory capital and liquidity

Supervision of insurance groups

Reporting, governance and risk management

8.1

What key disclosure requirements apply to insurance companies in your jurisdiction?

8.2

What key reporting requirements apply to insurance companies in your jurisdiction?

8.3

What key governance requirements apply to insurance companies in your jurisdiction?

8.4

What key risk management requirements apply to insurance companies in your jurisdiction?

Senior management

9.1

What requirements apply with regard to the management structure of insurance companies in your jurisdiction?

9.2

How are directors and senior executives appointed and removed? What selection criteria apply in this regard?

9.3

What are the legal duties of directors and senior executives of insurance companies?

9.4

How is executive compensation regulated in your jurisdiction?

10.

Change of control and transfers of insurance companies

11.

Consumer protection

12.

Data security and cybersecurity

12.1

What is the applicable data protection regime in your jurisdiction and what specific implications does this have for insurance companies?

12.2

What is the applicable cybersecurity regime in your jurisdiction and what specific implications does this have for insurance companies?

13.

Financial crime

14.

Competition

15.

Restructuring and insolvency

16.

Trends and predictions

17.

Tips and traps

DISPLAY RESULTS

Subject(s)

Region(s)

United Arab Emirates

Topic

Insurance

Paul Belanger

Blake, Cassels & Graydon LLP

Contributing Editor

Article Author(s)

Ravi Jawani, Partner

Chakrapani Bodapati

Fichte & Co Legal Consultancy LLC

United Arab Emirates

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