Page 13 - Insurance Code News Today

Local insurers will officially be required to hike their capitalization at the onset of 2023 as the government will no longer postpone the implementation of the measure.

More foreign companies are likely to enter the insurance business in the Philippines  as the final tranche of the increase in capital requirement – a move that would impact small local firms – nears implementation.

FROM THE MARGINS The President has appointed a new tax chief. Atty. Romeo Lumagui, Jr., tax lawyer and former Deputy Commissioner for Operations, recently took his oath, assuming leadership of the Bureau of Internal Revenue (BIR) amidst many challenges. With global inflation and an economy bearing

Local insurers are no longer optimistic on the possible extension of the final tranche of increase in capital requirement by yearend, but the industry maintained it would continue to push for its review.

FROM THE MARGINS Last week, House Speaker Martin Romuldez vowed to pass by December the administration’s priority bills, including the Passive Income and Financial Intermediary Taxation Act (PIFITA), the last tranche of the government’s Comprehensive Tax Reform Program. The PIFITA is laudable beca

Just in time for Halloween and employee handbook update season, the California Legislature has passed an onslaught of new employment legislation sure to give employers compliance...

On October 25, 2022, the Supreme Court of Georgia answered a certified question from the Eleventh Circuit Court of Appeals concerning Georgia’s insurable interest statute, OCGA §...

Ms. Henry is a partner in the Business Trial Practice Group in the firms Los Angeles office. She co-chairs the firms food and beverage industry team and consumer class action defense team.

In Crum v. Jackson National Life Insurance Company, the question was is a life insurance policy an illegal wagering contract if the insured takes out the policy on his own life with the intent to sell the policy with no insurable interest. Georgia Supreme Court ruled it was.

LOS ANGELES (Legal Newsline) - A California appeals court ordered a new trial for a lawsuit that produced a state Supreme Court decision exposing life insurance companies to billions of dollars in damages, by ruling a 2013 law applied to retroactively to every policy sold in the state.