Legal Affairs

Obligations of insurers related to cybersecurity and outsourcing

The Financial Sector Conduct Authority (FSCA) and Prudential Authority (PA) have announced that Joint Standard 1 of 2024 (Outsourcing by Insurers) and Joint Standard 2 of 2024 (Cybersecurity and Cyber Resilience Requirements), will be effective on 1 December 2024 and 1 June 2025 respectively.

Contractual damages and prescription

Prescription is judicially interrupted when process initiating a lawsuit for recovery of that particular debt is issued and served on the debtor.

Policy Limits vs. Property Damage: Lessons from Hurricane Ian

Disputes often arise between insurers and policyholders regarding the value of insured property. Some of these disputes are resolved with little difficulty, as the value can be relatively easily established.

Prescription of debts arising from unlawful administrative actions