Spanish Courts Rule on Late Payment Penalties

The Civil Division of the Spanish Supreme Court has handed down a significant ruling intended to harmonise the approach of the Spanish courts in respect of the rate at which interest penalties are payable by insurers on the late payment of claims.

EU Issue 5th Directive on Motor Insurance

The 5th EU Directive on Motor Insurance came was implemented in Spain and Portugal on 11 June 2007. Unlike the 4th Directive, the draft 5th EU Directive on Motor Insurance does not have a single aim; it covers a range of topics.