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We are excited to share the latest edition of the Law Update, beautifully and appropriately titled “Sustainable Horizons: The Saudi Arabian Vision.” Giving special honor to the Kingdom’s 2030 vision, this update focuses on a collection of both informative and inspiring articles.
For those in construction, you can learn about how the tendering environment impacts risk-pricing for contractors, the updates on the legal framework of the construction industry and how contractors can protect themselves against financial difficulties.
There is good news too from the kingdom’s banking sector, from which the practice of “Open Banking” is being pushed for! But what is open banking? We’re answering that too.
Also . . . Are there any women trail blazers in Saudi Arabia you can name? We’ll help you with that. We cover how the Middle East has been making strides in empowering women in the entrepreneurial space,most notably in STEM fields.Read the full edition
The department provides a full range of legal services to the insurance industry, which includes structuring options available to allow companies to operate in the UAE market or the Dubai International Financial Centre (“DIFC”), joint venture claims and compliance advice. We pride ourselves on the claims handling capability of the firm and we currently assist a number of insurers, reinsurers, brokers and underwriters with regard to claims and advice on all aspects of the Middle Eastern insurance industry. We act for some of the leading regional and international institutions in the industry, including international banks, insurers, reinsurers, brokers and intermediaries.
Whether as court advocates or legal consultants, our specialist lawyers have a wealth of exposure in handling the most complex disputes as they regularly arise. We also provide alternative dispute resolution solutions and aggressive litigation in the courts when necessary. Within and outside of the UAE and the middle east, our lawyers have been involved in numerous mediated, arbitrated and litigated disputes on behalf of (re)insurers/underwriters and brokers, including some of the largest insurers and reinsurers in the world.
The firm has in-depth knowledge and extensive local and worldwide contacts in the insurance industry since many of our lawyers have served as in-house counsel for multinational insurance companies abroad. The firm handles the requirements of insurance companies, brokers, underwriters and intermediaries. We are regularly called upon to advise clients upon policies covering every conceivable kind of risk including life, health, directors and officers, professional liability, corporate liability, financial institutions, electronic and computer crime, banker’s blanket bond, public liability, product liability, property, construction risks and employment.
We have assisted several clients set up Insurance companies in the UAE, as a public Shareholding Company, Foreign Branch and in the DIFC. We have obtained for clients, two of the most recent licenses granted by the UAE Insurance Authority and are currently involved in numerous applications in the DIFC. We have also been at the forefront of the use of joint venture relationships and reinsurance to assist foreign insurers in obtaining new business in the region.
No matter what the insurance issue, our Insurance team are sure to be able to provide the guidance and assistance needed.
Head of Transport & Insurance
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