COTE D’IVOIRE
Guinea
Côte d’Ivoire
Ghana
Law and Practice Contributed by: Assemian Kouakou, Innocent Kouakou, Francky Lukanda and Lamine N’Diaye Ofori Conseils Africa LLP
Yamoussoukro
Liberia
Contents 1. Basis of Insurance and Reinsurance Law p.132 1.1 Sources of Insurance and Reinsurance Law p.132 2. Regulation of Insurance and Reinsurance p.132 2.1 Insurance and Reinsurance Regulatory Bodies and Legislative Guidance p.132 2.2 Writing of Insurance and Reinsurance p.133 2.3 Taxation of Premium p.133 3. Overseas Firms Doing Business in the Jurisdiction p.134 3.1 Overseas-Based Insurers or Reinsurers p.134 3.2 Fronting p.134 4. Transaction Activity p.135 4.1 M&A Activities Relating to Insurance Companies p.135 5. Distribution p.135 5.1 Distribution of Insurance and Reinsurance Products p.135 6. Making an Insurance Contract p.135 6.1 Obligations of the Insured and Insurer p.135 6.2 Failure to Comply With Obligations of an Insurance Contract p.136 6.3 Intermediary Involvement in an Insurance Contract p.136 6.4 Legal Requirements and Distinguishing Features of an Insurance Contract p.136 6.5 Multiple Insured or Potential Beneficiaries p.136 6.6 Consumer Contracts or Reinsurance Contracts p.136 7. Alternative Risk Transfer (ART) p.137 7.1 ART Transactions p.137 7.2 Foreign ART Transactions p.137
9. Insurance Disputes p.138 9.1 Insurance Disputes Over Coverage p.138 9.2 Insurance Disputes Over Jurisdiction and Choice of Law p.138 9.3 Litigation Process p.138 9.4 Enforcement of Judgments p.138 9.5 Enforcement of Arbitration Clauses p.138 9.6 Enforcement of Awards p.138 9.7 Alternative Dispute Resolution p.139 9.8 Penalties for Late Payment of Claims p.139 9.9 Insurers’ Rights of Subrogation p.139 10. Insurtech p.139 11. Emerging Risks and New Products p.140 11.1 Emerging Risks Affecting the Insurance Market p.140 11.2 New Products or Alternative Solutions p.140 12. Developments in Insurance Law p.140 12.1 Significant Legislative or Regulatory Developments p.140 10.1 Insurtech Developments p.139 10.2 Regulatory Response p.139
8. Interpreting an Insurance Contract p.137 8.1 Interpretation of Insurance Contracts and Use of Extraneous Evidence p.137 8.2 Warranties p.137 8.3 Conditions Precedent p.137
130 CHAMBERS.COM
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