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25 March 2019 |
VEGAS LEX law firm is the partner and key expert at the international insurance conferenceOn 20 March 2019, the insurance conference "Technical risks: loss settlement" organized by the Union of Insurance Experts and Adjusters took place in Ararat Park Hyatt Moscow. The VEGAS LEX law firm acted as the event sponsor. The participants in the event discussed matters of loss assessment in the course of a construction project implementation and nonstandard management and mitigation of technical risks. The representatives of major Russian companies and the insurance community such as Severstal, Nornickel, Sogaz, VSK, AlfaStrakhovanie, VTB Insurance, Rusal, RusHydro, RESO Garantia, Ingosstrakh and others attended the conference. The leading Russian and foreign insurance experts and adjusters, namely, Martin Eсkel (Allianz (AGCS), Munich), Pavel Shaptsev and Sergey Nikitin (RusSurvey), Sergey Bukreev (Cunningham Lindsay Russia), Alexey Lebedev (Matthews Daniel International (Rus)), Nigel Riley (Willis Towers Watson, London), Alexey Sitnikov (Swiss Appraisal), Vladislav Timofeev (RNRC) and Victor Petrov (VEGAS LEX), spoke at the conference. Victor Petrov, Head of Litigation practice at VEGAS LEX, spoke of the main trends in disputes associated with contracts of insurance against construction and assembly risks (CAR). The speaker shared a causal research in proving insurance losses and provided grounds for insurance payout. In his speech, Victor highlighted two main problems of CAR insurance contracts, which arise at the trial level: (i) varying interpretations by courts of the vague terms and conditions of insurance contracts, and (ii) incorporation into the contracts of insurance cover clauses in the form of direct translation of such terms and conditions from a foreign language. The expert provided the examples of the relevant court decisions and proposed to the conference attendees the optimum legal solution to both problems. All the speeches were prepared based on real cases from companies’ experience and generated a keen interest among the audience, from time to time leading to open discussions. *** You will learn more about VEGAS LEX’s services in the field of insurance here. You can find out more about VEGAS LEX’s litigation support services here.
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