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Netherlands UBO register temporarily closed to public, registration requirement still applies

Netherlands UBO register temporarily closed to public, registration requirement still applies 2560 1920 Ekelmans Advocaten
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It is not acceptable that random members of the public can request (financial) information about a UBO. This has been ruled by the European Court of Justice. The Netherlands UBO register has therefore been temporarily closed to the public. What does this ruling mean and what are its implications for the UBO register?

Anti-Money Laundering and Terrorist Financing Directive

The UBO register and the obligation to register is based on the European fourth and fifth anti-money laundering directives. This directive aims to combat financial-economic crime. This could include corruption, money laundering, tax evasion, fraud and terrorist financing.

Companies have to register their ultimate beneficial owners in this UBO register. Some of the information (name, month and year of birth, nationality, state of residence, nature and extent of economic interest in the company) was, until recently, accessible to everyone. Anyone could request an extract from the UBO register for a small fee.

European Court ruling on the public nature of the UBO register

In its ruling of 22 November 2022, the European Court of Justice (ECJ) invalidated part of the European rules on the UBO register. According to the Court, public access to information on a UBO constitutes a serious interference with the fundamental rights to respect for private life and protection of personal data. It is not acceptable that random members of the public can obtain (financial) information about a UBO without having an interest related to the purpose of the directive. That is, prevention of money laundering and terrorist financing. UBOs are also particularly at risk because once provided, the data from the UBO register can be freely stored and distributed. The provision in the anti-money laundering directive that information on a UBO must be accessible to every member of the public in all cases is invalid, the Court ruled.

Consequences for the Netherlands UBO register

In the Netherlands, at the request of the Minister of Finance, the Chamber of Commerce has temporarily closed the UBO register to the public. This means that temporarily no information from the UBO register can be requested. The Court’s ruling has no impact on the obligation to register ultimate beneficial owners in the UBO register. UBO’s must register, if they have not already done so.

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Ekelmans Advocaten continues to rise

Ekelmans Advocaten continues to rise 2000 1436 Ekelmans Advocaten
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The Legal 500 assesses the strengths of law firms in over 150 jurisdictions. The rankings highlight the practice area teams who are providing the most cutting edge and innovative advice to corporate counsel. The Legal 500 research is based on the feedback from clients. We are therefore especially proud of our advance in this ranking!

Legal 500 about our Insurance-team:

Noted for its international focus, the team at Ekelmans Advocaten – Insurance & Corporate has many years of experience handling a wide variety of liability and insurance law issues for clients. It provides a range of services to large and niche insurance companies, such as advice on compliance with financial regulations, assistance with privacy-related questions and policy wording. In addition, with the group comprising of seasoned Supreme Court litigators, it is also a strong choice for complex insurance claims; areas of expertise in this space include professional liability, fraud, D&O and personal injury. Hanco Arnold leads the team, which also includes Frank Schaaf, Jan Ekelmans, Astrid van Noort and Daan Spoormans.

A few quotes from our clients:

‘Ekelmans Advocaten – Insurance & Corporate’s ability to quickly solve difficult situations makes them a priceless asset to clients.’

‘The people I work with are, without exception, nice and very approachable. They go the extra mile when necessary. The way in which they take the lead in a file is pleasant, without losing sight of the role of the client. Another thing that makes them unique is how they involve the client in legal cases, both in terms of content and procedure.’

‘The lawyers working at Ekelmans Advocaten – Insurance & Corporate know the insurance business inside out and have all the resources and knowledge they need to stand by insurance companies and their insured in their legal matters. Not only do they give well-founded legal advice, they also know how to solve insurance issues in a more pragmatic way (while taking into account the interests of all parties involved). Something that is essential in the insurance business.’

Read more on the Legal 500 website

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Ekelmans Advocaten rises in the ranking of best Dutch law firms

Ekelmans Advocaten rises in the ranking of best Dutch law firms 2500 1795 Ekelmans Advocaten
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The leading international lawyers guide Chambers Europe awards Ekelmans Advocaten with a higher ranking on the list of the best Dutch Insurance law firms.

Chambers recommends our firm and writes:

Ekelmans Advocaten offers renowned expertise in litigation and has a long track record advising on high-profile cases before the Supreme Court. The team is well known for its experience regarding healthcare insurance matters, while the contentious side of the practice covers professional, D&O and general liability concerning construction, property and marine damage.

One client highlights that the firm’s team is made up of “smart people with a lot of knowledge who are still really friendly and social.”

Jan Ekelmans is specially recommended by Chambers. Chambers writes about Jan:
Jan Ekelmans is an experienced practitioner, with notable experience advising healthcare insurers. He also assists with reinsurance matters, event cancellation insurance and D&O liability claims. His working style is commended as being “very elegant and smart.”

An overview of the Chambers Europe rankings can be found on the website of Chambers and Partners.

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Ekelmans Advocaten appoints Daan Spoormans as partner

Ekelmans Advocaten appoints Daan Spoormans as partner 2085 2441 Ekelmans Advocaten
Daan Spoormans partner
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Daan Spoormans has been appointed partner at Ekelmans Advocaten as per 1 January 2022. Daan specialises in corporate law and contract law. He assists companies and insurers in complex disputes about commercial contracts. Daan also assists directors who have been accused of incorrect management.

Daan has been working at Ekelmans Advocaten since 2008. In recent years, he has built up a flourishing international practice. Due in part to his bilingual background (Dutch and German), Daan also has many clients from German-speaking countries.

Partner Corporate/German Desk Robert Kütemann: “Daan’s partnership really strengthens our corporate practice. Daan has a strong legal and strategic insight. For many years, he has made an important contribution to the corporate team, which is highly valued by clients.
Since Daan’s clients include both companies and insurers, his appointment fits in perfectly with our positioning as an Insurance & Corporate firm. We are very pleased to appoint Daan as a partner.”

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Ekelmans Advocaten is our new name

Ekelmans Advocaten is our new name 1600 898 Ekelmans Advocaten
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As of today we are called Ekelmans Advocaten – Insurance & Corporate. We have added ‘Insurance & Corporate’ as that encapsulates our expertise and client base.

Our firm’s new name as of today is Ekelmans Advocaten – Insurance & Corporate. ‘Insurance & Corporate’ refers to our firm’s focus. It stands for the specialist expertise of our lawyers and the fields of law in which they support their clients. Along with the name change, we have a new corporate style and a refurbished office.

Director Andrea van de Velde on the name and focus: “As an organization, we have gone for a more clearly defined profile in recent years and now we are aligning our name and image with this. Ekelmans is already a familiar name in the market and it is easier for international clients. Insurance & Corporate is our signature dish as it were, showcasing the best of what we have to offer.”

“Insurance & Corporate encapsulates our expertise and client base. ‘Insurance’ refers to our years of experience working with domestic and international insurers. We are specialized in the areas of law that are relevant to them, such as insurance and liability law. ‘Corporate’ refers to the companies we work with, the fields of law in which we assist them and the professional approach that our clients expect from us.”

Most Ekelmans Advocaten clients are companies operating in professional services, industry, corporate finance, insurance or health care.

The firm’s Corporate practice group supports companies with contracts, M&A, employment law, litigation and appeals in cassation. The Insurance practice group deals primarily with insurance and liability law. In addition to these two groups, our German Desk and Privacy Desk also offer an extensive range of services.

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Ekelmans & Meijer Advocaten expert partner of the Dutch Association of Insurers

Ekelmans & Meijer Advocaten expert partner of the Dutch Association of Insurers 2560 1400 Ekelmans Advocaten
Verbond van Verzekeraars Ekelmans
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Today, Ekelmans & Meijer Advocaten officially became the Dutch Association of Insurers’ expert partner. Our firm shares its knowledge and experience with the members of the Association in the field of privacy law and fraud control.

Ekelmans & Meijer has been the Association’s go-to expert for legal advice for many years. The step to becoming an expert partner was therefore easily taken.

“It was the logical next step as we have been working together for many years,” said Richard Weurding, Managing Director of the Association. “We believe that the partnership will deepen our ongoing cooperation, particularly in important areas such as privacy and the prevention and combating of fraud.” Jan Ekelmans is sure that the expert partnership will have great added value: “We learn from each other all the time. This partnership is an excellent way for us to validate that fact.” Attorney Astrid van Noort concurs: “Privacy affects everyone. It is a privilege that we can work together with the Association on privacy and fraud control.”

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Insurance help for Dutch entrepreneurs who are not able to meet premium obligations

Insurance help for Dutch entrepreneurs who are not able to meet premium obligations 2560 1709 Ekelmans Advocaten
Crowd of kids on disco party with cancelled sign to maintain social distance, precautions during a pandemic, fighting covid virus, social distancing.
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Due to Covid a lot of entrepreneurs are in distress and are not able to meet premium obligations. Luckily the Dutch Association of Insurers and the Dutch State provide various ways of help to prevent entrepreneurs from falling into premium debt, to prevent a large-scale reduction and withdrawal of credit limits by credit insurers and to lower the risks for event organisers.

Framework for entrepreneurs in distress

The Dutch Association of Insurers has developed a framework for entrepreneurs in distress. The framework offers insurers, proxies and advisers/brokers an overview of possibilities for adjusting insurance cover, shortening the term of the premium and extending the term of payment, for example. In doing so, they expressly look for solutions to prevent entrepreneurs from falling into (premium) debt.

Depending on the severity of the acute (liquidity) problems, the framework offers unequivocal measures and a course of action ranging from adjusting the insurance cover, changing the premium period to, for example, six months, quarter or month, or extending the payment period by 30 days. These measures are tailor-made for each individual customer. To be eligible for these measures, entrepreneurs/customers must contact their insurer, authorised agent, broker or adviser themselves. These measures apply for the time being until 1 July 2021. Every month, the Insurers’ Association evaluates the measures and examines whether any changes are necessary. The regulations are binding on all members.

The framework is a tool for business non-life insurance, including the business insurance of the self-employed such as the AOV (disability insurance), but excluding business products that fall under the Pension Act. Situations where payment terms already apply to non-life insurance are not covered by the framework. There will also be no refunds of premiums already paid due to changed payment terms.

The Dutch state as reinsurer

Due to the fear that credit insurers would be reluctant to provide new credit insurance or lower the credit limits, the government has decided to reinsure (entire) portfolios of credit insurers. The starting point for the reinsurance was that the limits in force on 1 January 2020 would be maintained or, where necessary, reinstated. Claims that had already been paid out before 1 March 2020 were not covered.

The total reinsurance, which has been extended to 30 June 2021, amounts to €12 billion. Insurers report to the State on a monthly basis and the reports show that the measure is having the intended effect, as there has been no large-scale reduction and withdrawal of credit limits due to increased credit risk.

Covid-19 temporary grant scheme for events instead of pandemic cover within event cancellation insurance

Based on the expectation that the epidemiological situation will be more favourable in the second half of 2021, the government expects that events will be able to take place again.
In order to stimulate the organisers to make preparations and to maintain the viability of the sector, the temporary regulation subsidy events Covid-19 has been drawn up. An organiser of an event organised in the Netherlands and planned between 1 July and 31 December 2021, can claim under the regulation if the event is banned by the government because of Covid-19 and the organiser cancels the event as a consequence. The regulation has a subsidy ceiling of €385 million, distributed in order of receipt of applications.
The reason for this regulation is that the pandemic cover within event cancellation insurance has lapsed. Therefore, this regulation is only open to events that previously had a cancellation insurance.

Bron: Insurance Law Global

Legal 500: Ekelmans – Highly professional and knowledgeable in all aspects of the industry

Legal 500: Ekelmans – Highly professional and knowledgeable in all aspects of the industry 768 447 Ekelmans Advocaten
Legal 500-website-2021
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Legal 500, a leading guide to the international legal profession, has published its 2021 rankings. Ekelmans & Meijer has again been recognised as one of the top firms in the field of Insurance Law.

We are proud of this recognition, all the more because the Legal 500 rankings are based on the recommendations of clients.

Legal 500 has published the following about our Insurance team:

Ekelmans & Meijer Advocaten has a key focus on the healthcare sector and is highly regarded for insurance and general liability matters. The group has expertise in professional liability, D&O, fraud, personal injury and privacy matters. It has recently been advising on a number of Covid-19-related matters and counts the Dutch Association of Insurers among its clients. Hanco Arnold heads the team.

At the Legal 500 website various testimonials of our clients can be found. A selection of these:

‘Their approach is thorough, with a good sense of humour. ’

‘Highly professional and knowledgeable in all aspects of the industry’.

‘This is the firm for health insurance legal expertise’.

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Chambers: an introduction to the Dutch Insurance Market

Chambers: an introduction to the Dutch Insurance Market 2560 1707 Ekelmans Advocaten
Concept of car insurance. Blue car under red umbrella with text Insurance
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For Chambers and Partners, Jan Ekelmans and Frank Schaaf, partners at Ekelmans & Meijer, wrote and overview of the Dutch insurance market. The article gives an introduction to the current economic, legal and political trends affecting the Insurance Market in the Netherlands. Chambers and Partners is an independent research company operating across 200 jurisdictions delivering detailed rankings and insight into the world’s leading lawyers.

The Dutch insurance market is the 4th largest EU insurance market. At the basis of the insurance market lie the contractual obligations in insurance contracts. Dutch insurance law limits the freedom to determine the validity and contents of insurance agreements in ways generally similar to those in other European countries. The contractual obligations are influenced by international practice and insurance is offered by insurers who often maintain an international presence.

Specifically healthcare insurance is different. Legislation contains detailed provisions on the allowed content of healthcare insurance agreements. Dutch residents are legally obliged to maintain healthcare insurance.

Many of the largest Dutch law firms specialize in limited areas of insurance only. Most Dutch law firms with a broader in-depth activity on the insurance market are smaller or mid-sized firms. Generally, firms active in the insurance market concentrate on the Dutch insurance market.

You can read the full article here.

 

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Chambers Europe: beautiful ranking for our Insurance practice

Chambers Europe: beautiful ranking for our Insurance practice 1640 978 Ekelmans Advocaten
Chambers 2021 logo Ekelmans
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The leading international lawyers guide Chambers Europe has again awarded Ekelmans & Meijer with a beautiful ranking in the list of the best Dutch law firms in the field of Insurance Law.

Chambers recommends our firm and writes:

“Renowned for its litigation expertise and has a long track record advising on high-profile cases before the Supreme Court. Particularly well known for its experience regarding healthcare insurance matters. Has a broad liability practice, covering professional, D&O and general liability concerning construction, property and marine damage.

One client highlights that the team provides “accurate and efficient” services.
Another client adds that the lawyers “work thoroughly and they know the business very well.”

Jan Ekelmans is specially recommended by Chambers with a fine ranking in Band 4. Chambers writes about Jan:
“Jan Ekelmans has notable experience advising healthcare insurers. He also assists with professional indemnity claims and D&O liability claims. He is noted as “the driving force of the team” by one source, while a client enthuses: “He is very clever, witty and quick.”

An overview of the Chambers Europe ranking for Ekelmans & Meijer can also be found on the website van Chambers and Partners.

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