Insurance Archives - Fichte & Co

May 15, 2019

Cyber Security Policy from a Legal Perspective

What is a cyber security policy? A cyber security policy is a document that specifies the vulnerable cyber assets (technology and information) that have to be protected from certain risks. Furthermore, it specifies those risks and the way of dealing with them, as well as people responsible for such protection. In other words, a cyber...

April 17, 2019

The UAE Insurance Authority Issues New List of Fines for Non-compliance with Insurance Regulations

Introduction and Background On 6 January 2019, the UAE Insurance Authority (“IA”) published the 'Cabinet Resolution No 7 of 2019’ concerning the Administrative Fines Imposed by the Insurance Authority' (the “Resolution”). This Resolution lists 204 penalties and fines for violating the Federal Law No. 6 of 2007 ‘Concerning the Establishment of the Insurance Authority &...

October 24, 2018

Get 100% Foreign Ownership Today in Dubai

Freezones have always been the topic of discussion in the U.A.E., especially when considering options for setting up a business within the country. Which is why, many investors are attracted to establishing a company within the UAE freezones, as unique packages united with advantages offer the perfect hub for businesses to grow. Amongst the various...

October 8, 2018

Seven Things to Know About Filing a Bankruptcy Petition in the UAE

If your company is thinking of filing a bankruptcy petition under the relatively new bankruptcy law in the UAE (Federal Law Decree Law No. 9 of 2016), there are a few key things to keep in mind prior to filing the petition: 1. The Law is Untested: The UAE bankruptcy law is untested at Court,...

August 29, 2018

All You Need to Know About Debt Recovery Procedures in the UAE

Debts can be traced back to that time before the barter system. At that time, people exchanged services and goods for other services and goods in return. But, what if there were no current services or goods to be exchanged with, and what if one party failed to supply the goods or services as promised?...

June 8, 2017

UAE cuts ties with Qatar – Recent Developments

The UAE Ministry of Foreign Affairs issued a statement on Monday 5th June 2017 that United Arab Emirates, Saudi Arabia, Egypt and Bahrain were severing diplomatic ties with Qatar, as tensions escalate in the region over accusations that Doha sponsors terrorism. It is important that all companies based in the UAE do comply with the…