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The impact of COVID-19 will affect the regional GCC insurance industry, and accentuate the issues that already existed in the market prior to the onset of the pandemic.

The prime aim of the Economic Substance Regulations (New Regulations) is to provide transparency, uniformity and certainty in the tax regime so as to mitigate BEPS

A person who drives on a UAE road without a driving licence, or with a licence that does not cover the type of vehicle he is driving, commits a criminal offence rather than a routine traffic violation. On a first offence, the court may impose imprisonment of up to three months and a fine of between AED 5,000 and AED 50,000, or either penalty alone. On a repeat offence, imprisonment is for not less than three months and the fine rises to between AED 20,000 and AED 100,000, again with the court able to impose either penalty alone. These penalties are set out in Article 37 of Federal Decree-Law No. (14) of 2024 on the Regulation of Traffic (the “Traffic Law”).

Expo 2020 will be hosted in Dubai at the end of the year for 173 days, which brings much excitement and potential world trade and business opportunities to the region.

Insurance contracts in the United Arab Emirates are governed by the principle of utmost good faith. This principle places a heightened duty on policyholders to disclose material facts...

Whilst most of the insurance sector's attention on the ‘drone revolution' has focused on the insurance and insurability of drones, the insurers are emerging as major proponent...

Falling behind on mortgage, loan, or credit card payments can have serious repercussions such as penalty charges, damage to one's credit score, and even loss of property.

In January 2010 the Qatar Financial Centre Regulatory Authority ("QFCRA") issued Consultation Paper 2010/01 ("Paper") inviting comments in relation to possibly allowing general insurers to offer certain short-term life insurance policies in or from the Qatar Financial Centre ("QFC").

In an action filed before the Dubai Court of Cassation, the Court held that when the Insurance Company, the insurer of goods carried by sea, pay compensation to the insured for the loss or damage, it will subrogate the insured in his right and claim towards the carrier.

Healthcare data, and information, and its development in terms of how this data/information is protected, is a fast-evolving growth area, challenging both industry and consumers alike...

In this article we summarise the recent changes to the Dubai Financial Services Authority's (DFSA) suitability rules, and look at their application to corporate finance activities.

Healthcare is one of the most important service sectors in the UAE. In this article, we look at the growing medical tourism industry in the country and across the region.

The concept of good faith is pervasive in all contracts of insurance and reinsurance in the United Arab Emirates.

The mis-selling of financial services products has affected many economies around the world where disposable income is relatively higher.

A spate of recent articles in the press have announced a "three year solvency reprieve" for UAE insurance companies carrying on composite business (life and non-life) within the same corporate entity.

The insurance sector is the latest in a string of Emiratisation initiatives to be placed under the spotlight, with the release of an Emiratisation Special Guide issued by the UAE Insurance Authority on 25 January 2018.

Force Majeure is a legal concept commonly included in economic and commercial contracts, which exempts parties from liability in the event of unforeseen natural disasters or incidents that disrupt the expected course of events, preventing them from fulfilling their contractual obligations.