Worldwide: Insurance Laws and Products

The United States District Court for the Southern District of West Virginia, applying West Virginia law, has held that an insurer was entitled to rescind an insurance policy based on the insured's misrepresentations regarding disciplinary complaints and potential claims in a renewal application.

Broadly, the proposed reduction in reporting requirements will be welcome, especially for transactions classified as "private securitisations" (although the detail of such changes will not be available for some time).

Life insurance isn't just about a death benefit anymore. It can be a powerful financial tool that plays a vital role in legacy planning, tax efficiency, and even cash flow.