Articles

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 […]

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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

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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

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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

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Extra Contractual Damages due to Unjustified Declination of Insurance Claim

Dror Zamir Adv. & 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.

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Failure by Insured to Implement Measures for Mitigation of Risk – Dismissal of Insurance Claim

Peggy Sharon, Adv. & Alon Katz, Adv. Introduction: Prior the Insurance Contract Law (1981) (also: “the law”) failure to take protective measures could lead to a complete loss of benefits. Since then, most court rulings have applied Article 21 of the law, which provides that if the insured fails to take measures for mitigation of

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