Lexology GTDT – Insurance & Reinsurance – Exclusive Contributor Israel
Insurance & Reinsurance - Click here to read the article
The Israel Court has Jurisdiction over a recovery claim filed by an Israeli Insurer against a Foreign Reinsurer
Adv. Aviv Klepner C.C. (Tel Aviv) 23416-03-18 The Phoenix Insurance Company Ltd. v. Infrassure Ltd. The Tel Aviv District Court acknowledged jurisdiction over a claim filed by an Israeli Insurer against a Foreign Reinsurer who refused to participate in a settlement agreed by all other Reinsurers. The Court ordered service of the Statement of
The Israeli Compensation System of Bodily Injuries caused as a result of Road Accidents
General: Israel has established a “No Fault System” in road accidents compensation following the enactment of Israel Road Accident Victims Compensation Law 1975 (hereinafter: The Law). According to the Law, a person injured in a motor vehicle road accident is entitled to compensation regardless the question of fault i.e. there is no need to prove
When are technical malfunctions considered special circumstances?
Introduction: In a recent judgement handed down by the Beit Shean Small Claims Court, the Court declined a claim for compensation as a result of flight cancellation under the Aviation Services Law (Compensation and Assistance due to cancellation of flight or change in its condition) – 2012, due to a technical malfunction[1]. The Facts: Plaintiff
New Draft Circular by the Supervisor of the Capital Market, Insurance and Savings (the Supervisor)
On 20th January 2019 the Supervisor published a draft circular regarding transfer of funds by Israeli Insurers to Non-Israeli Reinsurers (hereinafter: New Draft Circular). History: Until 2012, the Control over Financial Services Regulations (ways of investing capital and undertakings of Insurers and management of its liabilities) (hereinafter: the Regulation) stipulated in Clause 25 how much
Where the Damage occurred in Israel by a Product manufactured abroad
The Manufacturer may be Summoned to Legal Proceedings in Israel The Global World of Commerce which enables orders through the Internet creates a situation where the manufacturer of the product does not always know the destination of his product. In addition, a machine that was originally purchased by a plant in Arizona, may find its
Is the Insurer Exempt from Liability for a Car Accident towards a Third Party, where the Insured was Drunk?
On 15th October 2018, the Israeli Supreme Court dismissed the appeal of the Hachshara Insurance Company (hereinafter: “Hachshara” and/or “the Insurer”) and declined its allegation that it should be exempt from liability towards a third party when the Insured drove the vehicle under the influence of alcohol (Leave to Appeal 2843/18, Hachshara v. Israel Polikov
Denial of a Liquidator’s claim based on a Claims Made Policy that was acquired 20 years ago
Adv. Nitzan Shmueli, liquidator of Shem Tov Ltd. (in liquidation) (hereinafter: the Company) v. Menorah Insurance Co. Ltd (hereinafter: Menorah). In July 2018, the District Court of Jerusalem dismissed a Liquidator Claim against Menorah, based on a Claims Made Policy that was issued 20 years ago and expired 16 years ago. Background: The Liquidator of
How will a Fraudulent Claim by the Insured affect the Third Party’s Right for Insurance Benefits?
In RCA 1219/18 Shay Peretz v. (1) Shlomo Insurance Company (2) Ron Zohar (18 June 2018), the Supreme Court dealt with the issue of whether Article 25 of the Insurance Contract Law, 1981 which discharges the Insurer in case the Insured or the beneficiary submitted a fraudulent claim, applies also to the third party's direct
NON-ADMITTED INSURER
SUBROGATION CLAIM ONLY IN THE NAME OF THE INSURED Peggy Sharon, Adv. On 23 January 2017 the Supreme Court dealt with the question of whether a non-admitted insurer is entitled to file a subrogation claim in Israel in its own name and answered the question in the negative (C.A. 8044/15). The Court upheld the
Interpretation of “Cancelled Flight” according to the Aviation Services Law
Adv. Peggy Sharon Adv. Keren Marco Introduction: The Aviation Services Law (Compensation and Assistance for Flight Cancellation or Change of Conditions), 2012 (ASL), defines a "cancelled flight" as: “Any one of the following, however, a change to the flight number will not be deemed to be a flight which has been cancelled: A flight which
What is considered “accident” under the Convention?
Adv. Peggy Sharon and Adv. Keren Marco Introduction In February 2017, the Tel Aviv Magistrates Court declined a passengers' monetary claim for bodily injury damages after it reached the conclusion that the occurrence which was the subject matter of the clam is not considered as “accident” as required by the Convention.[1] The Claim Plaintiff, a
THIRD PARTY LIABILITY / PROFESSIONAL INDEMNITY – WHICH POLICY SHOULD APPLY?
A fine line differentiates between act or omission of a torfeasor which could be covered by Professional Indemnify Policy and act or omission that could be covered by Public Liability Policy. For example, if a pedestrian falls due to a broken pavement – is the Municipality where the pavement is situated covered by its
Extra Contractual Damages due to Unjustified Declination of Insurance Claim
Hadas Adler, Adv. C.C 3168/09 The Third Step Ltd. v. the Israel Phoenix Insurance Co. Ltd General Background Plaintiff is a company engaged in the business of import and marketing of women's footwear. In December 2006 a fire broke out in Plaintiff's rented storeroom and totally destroyed it and its contents. The storeroom was insured
Israel published a new directive draft designed to ensure quick and fair claim settlements of long term care insurances
by Guy Shmueli During the last few years the Israeli media published many stories of Insureds who purchased Long Term Care policies and who became involved in a lengthy and complex process when trying to exercise their rights to obtain said insurance benefits. The issue raised awareness when during a recent meeting of the Israeli
Litigation of D&O Claims in Israel
Adv. Moshe Abady, Adv. Yael Navon and Adv. Adi Margalit D&O Liability Team; December 2017 What is the most significant change in D&O Litigation in Israel in the last few years? The increase in the number of motions filed with the Court requesting to certify the filing of Derivative Actions against D&Os. Whereas between the years
Is a Flooding of Groundwater a Foreseen Event in a Construction Policy?
Peggy Sharon, Adv. C.A 8776/15 Ayalon Insurance Company Ltd v. Malibu Construction Company (December 2017). Background In 2006, the Malibu Construction Company (hereinafter - "the contractor") won a tender for the construction of an underground passage under the railway tracks in Akko. Attached to the tender there was a professional opinion of a soil engineer
Underwriting of a Policy
The Insured's Disclosure Duty v.The Insurer's Obligation to Conduct Independent Investigations. Dror Zamir, Adv. & Hadas Adler, Adv. C.C 24088-08-13 Leibowits and Others v. Apolo Investments Ltd. and Others In one of her last Judgments before her retirement, Judge Denia Keret-Meir from the Tel Aviv Economic District Court handed down a comprehensive and significant