Caroline Theodosiou

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Insurance industry ‘excited’ about InsurTech

Most insurance companies acknowledge that major change is coming and the insurance world is excited about the changes that InsurTech may bring. Recently we have seen reports in the media that local insurance companies are spending significant amounts of money in partnering with various InsurTech companies in an effort to embrace the changes. InsurTech is effectively … Continue reading

Voting against a business rescue plan

Creditors of a company in business rescue do not have an unfettered vote to reject a proposed business rescue plan because their vote may be set aside by a court if it is inappropriate. The Supreme Court of Appeal in Firstrand Bank Ltd v KJ Foods CC considered the meaning of ‘inappropriate’ relating to business rescue … Continue reading

Payments to third parties under commercial crime policies

Payments to third parties do not qualify as a “loss” under commercial crime policies because such payments are not an “unlawful taking” by the employee. The United States District Court (New Jersey) recently had occasion to consider the interpretation of two commercial crime policies. The policies covered losses for “employee theft” stating that: “We will … Continue reading