It is hard to overstate the importance of insurance in personal and commercial life. It is the key means by which individuals and businesses are able to reduce the financial impact of a risk occurring.
The pace of regulation around the world governing the operation of drones is picking up speed as the threats to aviation safety become clearer; either as a result of deliberate misconduct up to and including terrorism on the part of operators, or simple, mindless rubbernecking. The contemplated ban on the carriage of laptops in the cabins of aircraft flying to the United States has provoked significant comment, particularly with reference to the occasional propensity of lithium batteries in laptops to spontaneously combust.
At a macro level, the dominant trend affecting the private wealth arena in the last 12 months continues to be the impact of various supranational initiatives seeking greater transparency with respect to anti-money laundering regimes and tax information exchange. I propose to focus in this year’s introduction on the central importance of the concept of ‘beneficial ownership’ and the theme of convergence in the increasingly interconnected arenas of anti-money laundering policy and tax information exchange.