Hogan Lovells analyzes the Spanish Royal Decree 463/2020 of 14 March declaring the state of alarm for the management of the health crisis situation caused by COVID-19, in relation to the insurance sector

On Saturday 14 March, Spain's Official State Gazette published Royal Decree 463/2020 declaring the state of alarm for the management of the health crisis situation caused by COVID-19 (RDEA). Under this Royal Decree, Spain has adopted a series of extraordinary measures of great relevance and impact with a threefold objective: i) to protect the health and safety of citizens, ii) to control the spread of the disease, and iii) to strengthen the public health system.

Our Insurance and Reinsurance team in Madrid has analyzed the RDEA, paying special attention to those measures that directly or indirectly impact the Spanish insurance sector: (i) the possibility of keeping "insurance entities" open to the public, (ii) files with the Directorate-General for Insurance and Pension Funds, (iii) ongoing legal proceedings, and (iv) pending legal proceedings. 

Our Insurance and Reinsurance team (like all teams in our Madrid office) is 100% operational and available to all our clients to continue providing advice that is necessary in these difficult times. The entire team is teleworking, as a sign of our commitment to the #YomeQuedoenCasa citizen movement. The document with our analysis is available here.


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