In June 2017, in The “Sunsetting” Foundation: Trend of the Future? we wrote about the small but growing trend of foundations to “sunset”; that is, to choose to end activities and formal corporate existence by a certain date instead of going on “in perpetuity.”  When any corporation, for-profit or nonprofit, is formed, there is generally no mention at all of the duration of the entity. The default ending date for a corporation is – well…
Uberrimae Fidei Ethics is a process of systematically applying, using, defending and recommending concepts of right and wrong behavior. Ethical behavior is required of both parties to a contract of insurance for the system to work. If any party to the insurance contract acts unethically the ability of insurance to work effectively and profitably will fail. Ethics is the essence of insurance. Since insurance was first created it has been a business of utmost good…
The recent revocation of Section 42 of the Wills and Succession Law Cap 195 has resulted in major changes to Cyprus’s succession law regime. Cyprus has a complicated system of forced heirship in which a portion of a deceased’s estate must be effectively passed to surviving family members according to a set system of inheritance. Natural children of deceased persons are entitled to an equal share of their parent’s property (along with their parents’ spouses).…
Selecting and Working with Counsel Zalma on Insurance Claims Part 108 – Second Edition Adapted from Zalma on Insurance Claims Part 108 -Second Edition: A Comprehensive Review of the law and Practicalities of Property, Casualty and Liability Insurance Claims now available  here. Retaining an Attorney In instances where insurance claims may entail litigation, insurers must move quickly to engage counsel. When an attorney is retained to defend a person insured, the fact should be documented…

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