The ‘Get out of jail free’ card is not dissimilar to a good directors’ and officers’ insurance policy.
The Competition Commission of India found a cartel among certain public sector insurance companies in India.
ABS Aspire Law has entered into a joint venture agreement with the Royal Buckinghamshire Hospital to create a service where clients with severe spinal injuries can receive rehabilitation treatment.
Keoghs Solicitors is rumoured to be in talks to acquire defendant insurance firm Plexus Law in a deal which would create a £145m turnover firm.
Freshfields Bruckhaus Deringer and Slaughter and May have bagged top roles on the possible £5bn sale of RSA to Zurich Insurance, with the latter’s deadline to make a firm offer set to close today.
Berwin Leighton Paisner (BLP) has hired corporate insurance partner Geraldine Quirk from Clyde & Co to boost its non-contentious insurance and financial services regulatory team.
The Flood Re scheme creates a not-for-profit flood reinsurance fund managed by the insurance industry.
BLM has boosted its public sector group through the hiring of ex-DAC Beachcroft (DACB) abuse claims expert Paula Jefferson.
Regulatory round-up – August 2015: FCA clarifies GAP insurance rules; decision in Northern Rock case; and more download
Wragges’ experts provide their monthly bite size overviews of the major legal and regulatory developments and news for the consumer, asset and automotive finance sectors.
Financial services giant Prudential is currently in the process of reviewing its legal panel with the line-up set to be announced imminently.
After an almost 20-year wait and lengthy negotiations, Kazakhstan, the largest economy in Central Asia, is finally on the verge of completing its accession to the World Trade Organization.
An armada of law firms has been drafted in to defend an energy insurance coverage dispute brought by Herbert Smith Freehills (HSF) client SBM Offshore.
Sporting loyalties aside – if, like many others, you are considering investing your money in Australia rather than in England, here are a few things to keep in mind.
As reinsurance disputes are frequently brought before arbitral tribunals, there is virtually no jurisprudence by Swiss courts in reinsurance matters
Our panel of experts discuss demand for cross-border protection plans, the rise in case complexity and implications of the new SRA discussion paper.
Ince & Co has announced that its turnover has fallen by 8 per cent, from £86.7m to £79.4m last year.
Irwin Mitchell and DAC Beachcroft are among the top firms cashing in on NHS negligence cases as damages and costs paid to patients who have suffered harm continue to rise.
Walkers is set to launch in Bermuda, hot on the heels of Canada’s Bennett Jones – a major development for an island whose main players all started life there. What is the allure?
Collas Crill has strengthened its Guernsey corporate and commercial team with the appointment of experienced consultant David Moore.
Also: reporting unenforceable credit agreements; ADR directive; and more.
Christoph Graber named as one of the Most Highly Regarded Individuals in Insurance & Reinsurance.
Clyde & Co has announced that insurance partner Heather Gray has joined the firm’s Toronto office from Canadian firm Gowlings.
Also: be specific in tripartite agreements; the right to rely on refund guarantees; and more.
Paul Weiss Rifkind Wharton & Garrison is advising investment company Exor as it announces new terms for its $6.8bn offer for Davis Polk client and reinsurer PartnerRe.
‘Insurers will welcome phased approach to hiking insurance premium tax’
Life as a surety underwriter download
Ainhoa Alzola discusses what life is like as a surety underwriter, and more importantly, what a surety underwriter looks for when writing a bond.
DAC Beachcroft has named its new leadership team with insurance head David Pollitt and Leeds senior partner Virginia Clegg taking over as managing and senior partner respectively.
Stewarts Law has secured £5m in damages for its client MH who suffered serious head injuries which resulted in physical and mental difficulties following a road traffic accident.
Sullivan & Cromwell and Wachtell Lipton Rosen & Katz have advised on insurance company Ace’s $28.3bn (£18.1bn) acquisition of rival Chubb Corporation.
Gibson Dunn & Crutcher and Weil Gotshal & Manges have won top roles on the merger of advisory and broking companies Towers Watson and Willis Group for $18bn (£11.45bn).
Kazakhstan modifies insurance and Islamic finance rules.
Alton Towers owner Merlin Entertainments has begun making interim compensation payments to victims injured in the rollercoaster crash on 2 June under the advice of Kennedys.
Improvements are needed in due diligence and management
In Senior v Rock UK Adventure Centres & Ors the High Court has ordered a defendant employer to disclose details of its employers’ liability insurance policy.
Insurance activities in Luxembourg download
This brochure provides an overview of the insurance activities in Luxembourg.
Reinsurance in Luxembourg download
This brochure provides an overview of reinsurance activities in Luxembourg.
Coe or Ovett? Oasis or Blur? Ketchup or brown sauce? All questions that lead to heated debate. And now there’s a new question to add to the list – who should you appoint as your principal designer?
With the creation of the Special Purpose Insurer vehicle Bermuda has become the dominant jurisdiction for the majority of all new cat-bond transactions.
Alton Towers owner Merlin Entertainments has turned to Kennedys for advice on the rollercoaster crash that left 16 people injured and the park closed for six days.
Control of DAC Beachcroft is set to remain in the hands of legacy Beachcroft partners as two teams embark on presidential-style election campaigns, pitting the firm’s core insurance practice against its property team.
Recently a market has developed for hedging longevity risk through the global reinsurance market.
B Atlantic provides a good example of the courts’ approach to construing exclusions (with perhaps surprising outcomes) and in assessing whether a foreign court has acted perversely or by reason of political interference.
With legislative changes for the insurance market coming this year, John Abramson is educating employees in preparation at industry giant Travelers.
Financial Ombudsman Service publishes annual review; Wonga aims for reinvention in new payday lending ads; Woolsey v Payne; and more.
Gateley offers a number of key points that need to be considered when looking to put an indemnity policy in place.
Wragges has prepared this glossary of terms to assist your understanding of some of the more common terminology used in insurance policies that you may come across in the construction industry.
US firm Foran Glennon Palandech Ponzi & Rudloff has received approval from the Solicitors Regulation Authority (SRA) to launch a London office operating under an ABS licence.
Learning lessons from asbestos case download
Zurich v IEG – be aware of the difference in approach between Guernsey- and UK-based claims.
PII: reasonably fit for purpose? download
Remember that professional indemnity insurance policies will not cover fitness for purpose obligations.
The myth of the compensation culture download
There is a perception that anyone who has suffered a personal injury can seek compensation, but there needs to be someone at fault.
A team of Hill Dickinson lawyers, including two partners, have left to start their own firm under the name Waterside Solicitors.
Court of Appeal confirms that ATE (‘after the event’) insurance is part of the Irish legal landscape.
He’s been AIG EMEA general counsel for only three years, but Chris Newby’s already overseen one sponsorship deal, two rebrands and three panel reviews.
Insurance Act 2015: a new landscape? download
Addleshaws presents a visual guide to the new landscape of insurance law under the Insurance Act 2015 Act, focusing on key changes concerning business insurance law.
Kennedys has announced the launch of an office in Moscow, operating under the name Kennedys CIS Advocates.
Plexus Law has launched its second large scale redundancy consultation in under a year, which is expected to affect the jobs of 80 legal secretaries and support staff and see up to 10 lawyers leaving the firm in May.
Insurance giant AIG has completed a review of its UK panel while at the same time establishing a European panel of 64 firms.
Mass scepticism greets insurance products intended to protect businesses from cyber-attacks.
Gard Marine v China: if a contract requires insurance the court will assume the parties have agreed to look to their insurers for indemnification.
The Court of Appeal has established a ‘bright line rule’ that an assured who tells a lie will forfeit the claim.
Airlines are responsible for up to $160k per person. In bigger claims, the airline can defend itself. Money is cold comfort for families, but at least it’s an acknowledgement, says James Healy-Pratt.
Foreign investment limit in the insurance sector has been increased from 26 per cent to 49 per cent, and other changes.
The aim of the act is to stop people being deterred from participating in socially useful activities due to worries about liability (although one peer said its text ‘would barely muster a pass in GCSE legal studies’).
The National Association of Insurance Commissioner’s Center for Insurance Policy and Research (CIPR) recently released the findings of its study on telematics-supported usage-based insurance.
Article includes practical points that may help insurers.
Court of Appeal decision should make life easier for lenders and claimants seeking an indemnity from the Land Registry under Schedule 8.
Negotiations over representations and warranties and the related indemnification in M&A transactions are often time-consuming and costly, even where the parties fully agree upon the purchase price.
An owner should terminate the charter in circumstances where it can show the defaults are sufficiently serious to deprive it of the benefit of the charter.
Regulators and industry representatives who have been grappling with new rules concerning Indexed Universal Life Insurance (IUL) illustrations for the past year came together in person on 26 March.
The Isle of Man has introduced new insurance special purpose vehicle (ISPV) legislation which enhances the island’s already attractive insurance business offering.
Risk adviser Willis Group has appointed Travelers’ senior vice president and general counsel Matthew Furman as global general counsel in its New York office.
US firm Foran Glennon Palandech Ponzi & Rudloff is planning to launch a London office through the hire of two Locke Lord lawyers, partner Gavin Coull and consultant Damian Cleary.
An analysis of public body liability in the wake of a £9m Companies House administrative blunder.
Plexus Law has lost a team of 13 lawyers from its travel law practice to insurance firm Kennedys, including senior partner and head of the practice Claire Mulligan and partner Justin Collins.
Biggest changes to British commercial insurance law for at least 100 years.
Slater & Gordon is poised to buy insurance outsourcer Quindell’s professional services arm for around £700m overnight on Monday (30 March) before the exclusivity period on its acquisition right expires.
Insurance company ACE group has appointed Susan McDonald to the role of regional general counsel for Eurasia and Africa as it continues to build up its management team in the region.
Review of the latest cases and issues affecting the lending industry.
The Treasury Committee has criticised the Financial Conduct Authority (FCA) for not addressing the failings identified by Clifford Chance partner Simon Davis in his report into a market leak last year.
A useful reminder of the principles applied to calculate damages under English law.
Significant changes have been made to the legislation relating to the insurance market.
MoJ extends insolvency LASPOA exemption.
The Insurance Act 2015 introduces key changes to commercial insurance contracts, covering the duty of disclosure, warranties and the remedies that insurers have for fraudulent claims.
Financial Regulatory Developments: weaknesses in Suspicious Activity Reports system; de-risking under fire; and more download
Latest update on regulatory moves in the UK, Europe and beyond.
The ICO has served Staysure.co.uk, an online travel insurer, with a £175,000 penalty notice for a serious breach of the security principle of data protection law.
Insurance giant RSA has launched an alternative business structure (ABS) to take its first steps into the legal market, teaming up with Parabis to obtain a licence.
Insurance regional highlights download
The insurance sector in South Eastern Europe has undergone considerable change in recent years.
North West insurance firm Keoghs has reported a 19 per cent drop in its net profit for the 2013/14 financial year, coupled with a 4 per cent decline in turnover.
US: update on the revision of the Uniform Unclaimed Property Act inc. payroll cards, unclaimed shares in Apple and audit limits download
A quick update on some issues being addressed by the drafting committee of the Uniform Law Commission, including gift cards, using payroll cards as uncashed payroll, regulation of insurance benefis and statutes of limitation on audits.
Covington & Burling is set to open an office in Los Angeles next week (9 March 2015) with a 15-strong lawyer team including two senior lateral hires from Pillsbury and O’Melveny & Myers.
What contractors, developers and consultants need to know about the new Insurance Act 2015.
Lloyd’s of London underwriter Marketform has appointed Alastair McKay as its new general counsel.
New rules seek to provide a framework for foreign investment in the Indian insurance sector.
DAC Beachcroft (DACB) Claims Limited chief executive Bill Paton is set to exit the firm at the end of March to join insurer RSA as UK and Western Europe claims director on 1 May.
PRIIPS regulation download
Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 regards key information documents for packaged retail and insurance-based investment products.
Municipal General Reinsurance was finally placed into liquidation on 20 February, nearly 21 years after the appointment of liquidators and following the termination of the scheme of arrangement.
Shearman & Sterling, Slaughter and May and Sullivan & Cromwell (S&C) have played key advisory roles on today’s (17 February) £1.22bn takeover bid by Fairfax Financial Holdings for insurance company Brit.
InVest – February 2015 download
This month’s roundup of developments affecting banks, wealth managers, brokers and funds sees: the EU Commission and EIB launch a new advisory service on financial instruments and the Government response to the DECC consultation on new criminal offences for manipulating the energy market.
Representation and warranty insurance and directors’ and officers’ insurance was the topic of a recent event organised by the Serbian Private Equity Association together with the Serbian Chamber of Commerce.
The Cayman Islands legislature recently enacted The Insurance (Portfolio Insurance Companies) Regulations, 2015 and related sections of The Insurance (Amendment) Law, 2013.
The Commercial Court recently handed down another judgment in the long-running matter of Starlight Shipping Company v Allianz Marine and Aviation Versicherungs AG & Ors .
RPC has hired Towers Watson risk consulting and software chief Rory O’Brien to launch a management consultancy business, which will trade as RPC Consulting.
Eversheds expands Switzerland team with the appointment of three new partners.
Holman Fenwick Willan (HFW) partners have elected Marcus Bowman as managing partner effective 1 April, replacing George Eddings after just two years in the role.
BLM is offering a flexible working programme for all its staff in London as the firm consolidates its two offices into one location.
Financial Regulatory Developments (FReD) — ESMA publishes MAR advice; FCA publishes crowd funding review; and more download
Dentons has released the 6 February 2015 issue of its Financial Regulatory Developments (FReD) publication.
Insurance specialist Will Harrison has joined the Minter Ellison in Perth as head of insurance and corporate risk: Asia and Western Australia.
Insurance underwriter Novae Group has appointed Alexandra Moon as its first-ever group general counsel.
Longstanding DAC Beachcroft (DACB) Madrid lead partner Pablo Wesolowski has left the firm to join 11 former colleagues at Rousaud Costas Duran (RCD).
The European Commission has given state aid approval to a UK scheme designed to make sure that owners of properties at risk of flooding can obtain affordable insurance.
BLM’s 200 partners have unanimously reappointed senior partner Mike Brown to the role or a second three-year term.
Holman Fenwick Willan (HFW) managing partner George Eddings is set for a challenge to his leadership in March as his two-year tenure comes up for renewal.
Ince & Co’s specialist captives insurance practice has been recognised by Captives Review, winning the Onshore Law Firm of the Year 2015 award.
Plevin v Paragon — non-disclosure of the amount of PPI commission paid to the lender rendered its relationship with the borrower unfair
The Supreme Court has ruled that non-disclosure of the significant amount of commission earned by a lender created unfairness in the borrower’s relationship with it.
Conyers Dill & Pearman is advising AXIS Capital Holdings Ltd on its $11bn (£7.3bn) merger of equals with PartnerRe Ltd.
The Nairobi Convention will come into force in April. It provides a strict liability regime for the removal of hazardous wrecks in Exclusive Economic Zones.
Addleshaw Goddard’s professional practices team has advised on what it is calling one of the most significant professional partnership deals in the City.
A claim brought by Mariah Re is one of few cat bonds to have been triggered, and almost as quickly went into dispute.
The long-awaited portfolio insurance company legislation is now in force.
11 Stone Buildings has barristers and accredited mediators specialising in the resolution of insurance and reinsurance disputes.
This briefing provides an introduction to the factors that determine whether a Jersey insurance business transfer scheme is required and an outline of the procedure for the transfer of insurance business in Jersey.
Financial Regulatory Developments (FReD) — Lloyd’s gives sanctions guidance; Commission adopts Solvency 2 and CRR acts; and more download
Dentons has released the 16 January 2015 issue of its Financial Regulatory Developments (FReD) publication.
It has been just over a year since James Burns took over as senior partner at Clyde & Co, succeeding Michael Payton who stood down to become chairman after 28 years at the helm.
Earlier this week DAC Beachcroft (DACB) announced it had signed an exclusive alliance with Madrid-based Muñoz Arribas Abogados in a further bid to boost its insurance and health practices in Spain and Latin America.
20 Essex Street has announced that Thomas Raphael has been appointed as Queen’s Counsel.
New California laws download
Governor Jerry Brown signed 930 bills during the 2014 session, the most in a single year since he took office in 2011. He also vetoed 143 bills, or about 13 per cent of the total that were sent to him.
Deputy managing partner
Serbia: new Insurance Act download
The Serbian insurance industry is welcoming the new Insurance Act, which substantially overhauls regulation in this area.
Consultation paper on a risk-based capital framework for the insurance industry in Hong Kong download
The OCI has announced the publication by the Insurance Authority (IA) of a consultation paper on a risk-based capital framework for the insurance industry in Hong Kong (the Consultation Paper).
Kennedys has taken over a litigation boutique and hired a partner from McClure Naismith as part of a plan to rapidly grow a presence north of the border.
Debevoise & Plimpton, Skadden Arps Slate Meagher & Flom and Slaughter and May have played key advisory roles on the $4.2bn sale of insurance giant Catlin Group to XL Group.
Changes to social insurance laws download
As of 1 January members of supervisory boards have joined join the group of persons subject to mandatory retirement and disability pension insurance.
The banking union package is based on two pillars, the single supervisory mechanism and the single resolution mechanism, while the single rule book is the foundation on which the banking union is built.
InSure — December 2014: EIOPA's consultations on Solvency II; FCA's strategic approach and more download
This month’s round-up of developments affecting the insurance industry sees: EIOPA publish a series of consultations on Solvency II implementing technical standards and guidelines and much more.
Tthe Swiss Federal Act on Insurance Contracts imposes certain duties of information and disclosure on the parties to a contract.
Kennedys has formalised a long-term relationship with Chinese firm AnJie by entering a co-operation agreement with the Beijing-headquartered firm.
Schoenherr has advised VIG Fund on its recent purchases of two top-tier commercial properties in Warsaw.
Insurance groups need to respond to the International Association of Insurance Supervisors (IAIS) consultation.
The 2014 issue of London Super Lawyers has named seven Ince & Co lawyers as ‘Super Lawyers’ and four as ‘Rising Stars’.
California’s Insurance Fraud Prevention Act: three unsettled issues the health sector should understand download
California’s Insurance Frauds Prevention Act, Ins. Code §§ 1871 et seq. (IFPA), is an unusual false claims statute.
Versloot Dredging BV & Or v HDI Gerling Industrie Versicherung AG & Ors considered whether the entire claim is forfeit if an Insured relies on fraudulent means or devices in pursuing a claim.
Clyde & Co has reported a 5.3 per rise in income at the half-year, bringing revenue for the first six months of 2014/15 to £178m.
Buckinghamshire County Council has tasked its new alternative business structure (ABS) with generating profits of £400,000 over the next five years.
The headlines following the release of the latest European insurance stress test results made depressing reading. However, the actual position is more positive.
Prager Dreifuss has many years of experience in Swiss and international insurance and reinsurance law and is one of the leading providers of legal services in this field.
The Hong Kong privacy commissioner for personal data (PCPD) announced last week that a former insurance agent has received a prison sentence in respect of offences under the Personal Data (Privacy) Ordinance.
March set up some of the defining stories of 2014, with Addleshaw Goddard kicking of its early election, and PwC and DWF declaring top 20 aspirations in their respective markets.
The Financial Conduct Authority (FCA) has promoted lawyer and current head of enforcement Tracey McDermott as part of a structural overhaul after admitting its supervision function was “under strain”.
Wragge Lawrence Graham & Co’s automotive team will play a significant role in a driverless cars initiative.
DLA Piper has announced that the firm has been recognised in Law360’s global practice group rankings as a law firm with the largest practice group in eight specific areas of the law.
Much will no doubt be written about the main provisions of the new Counter Terrorism and Security Bill.
Lawsuits seeking compensation of damages caused to a company by its management are being filed with increasing frequency.
Insurance law reform in England download
English insurance law is changing. Following recommendations of the Law Commission, a Bill was introduced in the House of Lords on 17 July 2014 and will now be rushed through before the next election.
Lesley Fidler, associate director at Baker Tilly, has commented on the Autumn Statement 2014 and its impact on employers.
The ‘Only Way is’ Profits: High Court measures loss of profits in the wake of Sugar Hut blaze download
In Sugar Hut Group v AJ Insurance, the High Court was asked to consider the business interruption losses arising out of a fire at the Sugar Hut club in Essex.
Addleshaw Goddard has released the November 2014 issue of its InSure publication.
Private equity backed Parabis Group has received a further £13m cash injection from its investor Duke Street.
A Dacheng team co-ordinated by senior partner Liu Xinde has advised Sunshine Insurance Group on PRC law issues related to the acquisition.
The placing agreement was signed on 30 November 2014, pursuant to which Morgan Stanley will place an aggregate of 594,056,000 new H shares.
BLM has added £4m to its top line with the completion of its merger with Belfast-headquartered Campbell Fitzpatrick Solicitors (CFS) on 1 December.
DAC Beachcroft and DWF have both made team hires in Bristol, with the latter swooping on Greenwoods for a second time after Parabis closed its office in the city.
Financial Regulatory Developments: CJEU finds against UK on bonuses; Treasury extends market abuse sunset clauses; Treasury publishes BRRD legislation; and more download
Dentons has released the 28 November 2014 issue of its Financial Regulatory Developments (FReD) publication.
Skadden Arps Slate Meagher & Flom has taken Freshfields Bruckhaus Deringer insurance partner Robert Stirling to join its global financial institutions group.
Hyperion general counsel Will Bloomer provides a whistle-stop tour of the consolidating insurance market and explains why he doesn’t believe in panels.
The Court of Appeal has reached its conclusions in Mitsui Sumitomo Insurance Co (Europe) Ltd & Anor v The Mayor’s Office for Policing and Crime.
Mr Justice Jay’s judgment in Milton Furniture Ltd v Brit Insurance Ltd is a ringing reminder of the importance of an insured’s compliance with policy provisions relating to security.
Two recent cases have dealt with the obligation on (re)insurers to act in a business-like manner or to take business-like steps in the course of their claims handling or settlement.’
The UK Financial Conduct Authority has turned its glare on brokers and perceives a potential conflict of interest among those who use ‘integrated models’ as a means to boost income.
Eurokey Recycling Ltd v Giles Insurance Brokers Ltd has provided helpful guidelines regarding the duties of an insurance broker in relation to the placement of business interruption insurance.
Statistics suggest that around one in every four of us suffers from some sort of anxiety before heading to the dentist.
Post-Mitchell, there followed a number of first instance cases in which judges applied the Mitchell guidance to applications for relief from sanctions.
In Wellesley Partners LLP v Withers the defendant solicitors were found to be liable for damages in excess of £1.6m arising out of the unauthorised amendment of one very brief clause in an LLP agreement.
In West and another v Ian Finlay & Associates, the Court of Appeal reversed the finding of the court at first instance and held a net contribution clause to be valid and binding.
The recent Court of Appeal decision in Mehjoo v Harben Barker  EWCA Civ 358 provides guidance as to the limits of a professional’s duty to his client.
The continued dependence on electronic and network-based systems means that all businesses, regardless of their size or area of operation are increasingly exposed to cyber risks.
In Ageas (UK) Limited v Kwik-Fit (GB) Limited and AIG Europe Ltd, the High Court examined the legal authorities on measuring loss for breach of a warranty in a share and purchase agreement.
The in-brief secton of Ince & Co’s Insurance E-Brief provides updates on recent legal developments and significant cases.
The Court of Appeal in Versloot Dredging BV v HDI Gerling Industrie Versicherang AG has made it clear that where an insured uses a ‘fraudulent device’, it will forfeit the entire claim.
This was the finding in GSM Export (UK) Ltd (in Administration) and another v Revenue & Customs Commissioners, in which GSM Export appealed against a refusal of repayment of input tax.
Wanambwa has experience advising major corporates, financial institutions and insolvency practitioners on a broad range of large commercial disputes.
Yerlan Turemuratov, GRATA representative in Uralsk and Aksai, represented GRATA at the Forum on Support to Small and Medium Businesses in Almaty.
Dacheng has advised Ping An Asset Management Co on the issuing of its investment plan, the Ping An-China Enterprise real-estate debt investment plan.
The lawyers of Colibri Kazakhstan possess innovative experience in supporting infrastructure and industry projects in Kazakhstan since the moment of the development of PPP mechanisms in the country.
Our lawyers have excellent expertise in the transport industry.
The litigation team at Colibri Kazakhstan deals with all aspects of commercial dispute resolution cases, most of which result in success.
Allen & Overy and Linklaters have been instructed to advise insurance giants Aviva and Friends Life on their proposed £5.6bn merger.
Focus: loans to enterprises by insurance companies — amendments to Regulation 36/2011 approved by IVASS download
Law Decree no. 91 of 2014 has added a new provision to paragraph 2 of article 114 of Legislative Decree no. 385 of 1 September 1993.
This newsflash provides information on the obligations under the BCL Regulation as amended by Regulation 2014/N17.
We have built a strong reputation in both domestic and cross-border finance transactions, working together with our own offices in other locations or with reputable firms.
Financial crime controls download
The FCA has published the results of two reviews into how firms manage their financial crime risks, together with proposed guidance on financial crime systems and controls.
Matt Tuff, a specialist solicitor, has helped a man who was left paralysed after being hit by a car to receive a seven-figure compensation settlement.
On 14 November 2014, the English Court of Appeal handed down its judgment relating to a complex dispute under a civil liability insurance policy.
UK Automotive Newsletter — holiday pay test cases; the Consumer Protection (Amendment) Regulations 2014; and more download
This briefing from Dentons covers the latest legal and regulatory updates in the UK automotive industry.
Minter Ellison has helped WICET respond to two of the largest adjudication applications in the history of the Building and Construction Industry Payments Act.
Rosita Lau, Hong Kong-based partner at Ince & Co, has been named winner for ‘Best in Shipping’ at the Asia Women in Business Law Awards 2015.
Every two years there is a shake-up of the state insurance commissioners. This year will be no different.
Reinsurance activities in Luxembourg download
Luxembourg offers interesting tax legislation for reinsurance businesses.
Direct Line Group’s Humphrey Tomlinson has steered the insurance giant down a successful road to an IPO, and an ABS win
Voicu & Filipescu’s specialised attorneys provide legal advice in all areas of insurance law to both corporate and insured individuals.
A recent case is a good lesson for those involved with the drafting of acquisition indemnities to ensure the wording and grammatical construction is clear.
RPC has increased revenue by 16 per cent from £38.7m to £46m in the half-year period from 1 May to 31 October 2014.
The Brisbane summit provides an opportune moment for policymakers to reflect upon two key questions for regulatory reform.
Addleshaw Goddard’s insurance litigation head Richard Leedham is the latest partner to resign in a year characterised by high-profile exits from the firm.
Simmons & Simmons has picked up Edwards Wildman Palmer insurance partner Martin Lister in Hong Kong.
Jan Heuvels will succeed Wilson as international senior partner, while Paul Herring takes on the new role of chairman.
Eversheds has advised NHP on its £477m acquisition by Formation Capital, Safanad and Court Cavendish.
DLA Piper played a key role in an agreement between Gulf Related and Al Tayer Group that will see the opening of Macy’s and Bloomingdale’s at Al Maryah Central.
Conyers has been awarded eight top rankings in The Legal 500’s 2015 edition. The firm’s offices in Bermuda, the BVI, Dubai and Hong Kong all received a tier-one ranking.
For most M&A transactions, one of the primary concerns for the buyer is understanding the risks it will be inheriting through the purchase of certain assets and/or shares.
On 24 October 2014, 7KBW barrister Stephen Hofmeyr QC, sitting as a deputy district judge, handed down judgment in the matter of the ‘Longchamp’.
20 Essex Street advises on all types of commercial disputes and has expertise in disputes with an international dimension.
Wragge Lawrence Graham & Co’s engineering and construction experts consider the principal changes in the new Third Parties (Rights Against Insurers) Act 2010.
This dispute concerns a claim for cargo damage of around $1m under a bill of lading on the Congenbill 1994 standard form.
As a result of the 2014 mid-term elections, 11 new governors could appoint new insurance commissioners/directors/superintendents in 2015.
BLM has launched a new marine insurance team with the addition of legacy Greenwoods partner Gemma Pearce and two other fee-earners from Parabis’ defunct Bristol office.
InVest — government consults on fair and effective markets review recommendations; and more download
InVest features a round-up of developments affecting banks, wealth managers, brokers and funds.
InSure — final version of Solvency II Delegated Regulation; IMD 2 compromise proposals; and more download
InSure features a round-up of developments affecting the insurance industry.
DLA Piper is celebrating success after having been named the winner in the Insurance Law Firm 2014 category at The Legal 500 UK Awards.
Kennedys chief executive officer Guy Stobart is to stand down from his role at the end of this year after five years in the role.
Financial Regulatory Developments — ECB publishes bank resilience results; BoE launches FICC markets review; and more download
Dentons has released the 31 October 2014 issue of its Financial Regulatory Developments (FReD) publication.
Consumer finance update: proposed rulemaking under the Homeowner Flood Insurance Affordability Act of 2014 download
A number of agencies have approved a joint notice of the proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas.
Kennedys is the latest top 50 firm to become an alternative business structure (ABS) after being awarded a licence this weekend.
DWF has made 15 secretaries, six solicitors, four paralegals, and one analyst from its fraud, intelligence and motor teams redundant following a consultation that kicked off in June.
The court has considered an application for judicial review of a decision made by the Financial Ombudsman Service (FOS) to entertain a complaint against the applicant.
Regional Steel Corp v Liberty Surplus Ins Corp: when are, and are not, damages allegedly resulting from an insured’s work insured ‘property damage’?
Neil Hudgell Solicitors has secured compensation of £1.8m for a man who was left with severe injuries when hit by an uninsured driver.
BLM, Keoghs and Simpson Marwick have been appointed to insurance broker Hastings Direct’s new slimline claims defendant panel.
Mr Justice Blair has clarified the scope of brokers’ duties in relation to business interruption cover in Eurokey Recycling Ltd v Giles Insurance Brokers.
This note is relevant to office holders who have, or may have, claims that, prior to April 2015, they ought — or wish — to bring against any third party.
Clyde & Co has picked up three partners from Australian firm Sparke Helmore in Brisbane to open its fourth office in the country.
The firm has reinforced its pre-eminent position in Leeds and Manchester, securing more Tier One rankings than any other law firm.
The paper, which has been issued by EIOPA on its own initiative, considers how various aspects of the so-called ‘holistic balance sheet’ might work.
An end to the insolvency exemption download
The LASPO exemption for insolvency cases is due to come to an end in April 2015.
The guidelines are directed at premium-listed Main Market companies — although AIM companies are encouraged to adhere to the guidelines as best practice.
‘Transforming Insurance’ — KPMG’s latest report — highlights the sector’s priorities and progress, particularly firms’ digital maturity, to meet the digital challenge.
The following regions are discussed in this article: Azerbaijan; Kazakhstan; the Russian Federation; Uzbekistan; and Kyrgyzstan.
Parabis has cut 24 fee earner roles from its Croydon-based claimant firm Cogent Law.
Ogier has advised Friends Life Group on the sale of the entire share capital of its subsidiaries Lombard International Assurance SA and Insurance Development Holdings AG.
Minter Ellison has been named ‘Insurance Law Firm of the Year 2014’ at the AB F Insurance Awards in Sydney for the third consecutive year.
The Court of Appeal has ruled in underwriters’ favour as to the consequences of the use of a fraudulent device by an assured.
The Court of Appeal has ruled in underwriters’ favour regarding the use of a fraudulent device by an assured in connection with the presentation of an insurance claim.
Conyers has been named as the Offshore Law Firm in the 2014 US Captive Services Awards and Bermuda has been awarded the Offshore Captive Domicile.
Until recently Tim Roberts resided very much in the shadows at Parabis, quietly masterminding the systems and processes that have created the volume powerhouse that the firm is today.
Doing Business in the United States download
Doing Business in the United States is an introductory guide for non-US businesses that may be interested in doing business in the US.
It can happen to anyone, at any time. Unfortunately, road traffic accidents are part and parcel of modern day-to-day life.
Ince & Co has announced the appointment of renewables specialist Martin Sandgren to its London energy group.
On 7 October 2014, the AGCM and the IVASS signed a memorandum of understanding concerning the consumer protection on the insurance market.
Financial Regulatory Developments — Council publishes unfinished business table; ESMA consults on EMIR measures; and more download
Dentons has released the 10 October 2014 issue of its Financial Regulatory Developments (FReD) publication.
Esther Felton’s vision as GC for insurer QBE was to create a legal function that works shoulder to shoulder with the business. Now a reality, her team’s remit is extending and fast acquiring specialist expertise
Pillsbury has assembled a new team to help clients with their global security strategy and compliance needs.
Doing Business in Australia download
This guide provides sound, practical advice on the relevant laws and regulations for foreign companies looking to invest in Australia.
YouView’s general counsel Tony Vitale has joined insurance company BGL Group in a new role as head of legal.
Conyers Dill & Pearman has been recognised as a top-tier firm in the 2014 edition of The Legal 500 UK.
Compensation pay-outs for head and brain injuries: interim payments available when fault is admitted download
Recovery from a brain injury can take a long time. It is likely the individual seeking compensation will suffer losses in the form of lost earnings and incurring expenses.
Research from four leading screening companies has shown that the number of UK employers that are drug-testing their workers has increased significantly.
Neil Hudgell Solicitors has been shortlisted for the ‘Outstanding Case of the Year’ award by the Eclipse Proclaim Personal Injury Awards.
At the Chambers and Partners Bar Awards dinner, which took place on 2 October 2014, 7KBW was awarded Insurance Set of the Year 2014.
The new release of The Legal 500 UK has ranked Carey Olsen in tier one across all of its 16 practice categories in the Channel Islands.
UAE employment law updates download
The Dubai Health Insurance Law No. 11 of 2013 obligates all employers in Dubai to provide their employees with compulsory healthcare insurance.
Starlight Shipping v Allianz Marine download
As an alternative to an anti-suit injunction, the Commercial Court confirms that an award of damages for breach of an English jurisdiction clause is compatible with EU law.
This article considers the current adjournment in the case of Coventry and others v Lawrence and another (No 2) and its potential effects on litigation funding.
Insolvency litigation briefing — directors will be responsible for breaches of accounting practice; and more download
Wragge Lawrence Graham & Co’s insolvency litigation team brings you its monthly update on the cases and issues affecting the insolvency and fraud investigation industry.
Making a brain injury compensation claim: how to obtain adequate funding for rehabilitation and loss of earnings download
Brain injury, unlike physical injury, is not always easy to see, and thus the full impact of such an injury is not necessarily appreciated by others.
Financial Regulatory Developments — FSB reports on Cairns plenary; EBA consults on early intervention; and more download
Dentons has published the 26 September 2014 issue of its Financial Regulatory Developments (FReD) publication.
Joshua Kaye, co-chair of DLA Piper’s US Healthcare practice, has been named to the Daily Business Review’s ‘Rising Stars’ list.
Australia’s federal government is proposing to make it easier for businesses to opt out of state- and territory-specific WHS laws and to join the federal WHS system.
Carey Olsen lawyers from the Cayman Islands, Guernsey and Jersey have been recognised as leaders in their fields by this year’s Who’s Who Legal guides.
BLM has announced it is to merge with Belfast firm Campbell Fitzpatrick Solicitors (CFS) on 30 November, adding eight partners and another 13 lawyers to its roster.
Weightmans has embarked on a significant expansion of its Glasgow office, hiring three partners from Anderson Strathern and BTO Solicitors in the first wave of a recruitment drive.
Despite having WSIB coverage, worker permitted to sue ‘physically demonstrative’ executive officer who ‘massaged’ her neck download
Physically demonstrative managers beware: your company’s workers compensation coverage does not necessarily protect you from lawsuits by employees.
Financial Regulatory Developments — Commission plans Level 2 programme; FCA publishes mobile payments review; and more download
Dentons has published the 19 September 2014 issue of its Financial Regulatory Developments (FReD) publication.
During the summer, the Solicitor’s Regulation Authority (SRA) has been consulting on six specific aspects of regulatory reform.
Clyde & Co has obtained formal approval from the authorities in Saudi Arabia to launch a co-owned joint venture with its Riyadh alliance firm.
The maritime business department specialises in international shipping, port management, shipping management, maritime insurance claims and ship mortgages.
As one of the earliest practice departments established in King & Capital, we are able to draw on some of the most talented legal minds in the country.
WesPay has announced that Pillsbury partner Deborah S Thoren-Peden is the recipient of the Frank E Zima Award for Payments Advocacy.
Benchmark Asia Pacific, which covers the litigation market, has ranked Ince & Co as one of the recommended dispute resolution firms in Asia.
Ilyashev & Partners has obtained four merger clearances from Ukraine’s competition regulator, the Antitrust Committee, for PZU, an international insurance group.
Corporate Insurance Trends 2014 is a collection of articles highlighting some trends and key issues for financial lines insurers and their insureds in 2014.
Gateley has been instructed by a surety syndicate in what the firm describes as the UK’s largest-ever surety bond syndication deal.
Eversheds partner Paul Pugh has commented on the latest advancements in automation technology.
A trio of firms including Hogan Lovells has advised on Reinsurance Group of America’s (RGA) €12bn longevity swap with Delta Lloyd Levensverzekering.
Research has suggested people in the Yorkshire and Humberside region are the most reluctant in the UK to claim compensation for genuine personal injuries.
Panel reviews 2014: The chosen ones download
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
For more insurance news and analysis go to thelawyer/insurance
Analysis compiled by moneysupermarket.com has found nine of the 10 occupations that cause the most accidents on the road to be medical workers.
Hill Dickinson has cut 40 roles and made two redeployments to other parts of the firm following a 30-day consultation that kicked off on 21 July.
Our experienced shipping and transport team provides a world-class service to an international client base.
The Ontario government has proposed to amend the Insurance Act (Ontario) by requiring mandatory insurance of long-term disability (LTD) benefits provided by employers.
DLA Piper has announced that Carl Buchholz has been named managing partner of the firm’s Philadelphia’s office. Buchholz succeeds Jim Brogan.
DAC Beachcroft cut a total of 62 jobs across the business last month following a redundancy consultation that kicked off in May.
The team handles high-level complex insurance and reinsurance matters for major domestic and international insurers and reinsurers.
There are more than 170 lawyers working globally to provide the best possible solution for your business, well-protected interests and carefully managed cost control.
DLA Piper has represented Shanghai-based investment group Fosun International in its equity investment in US insurer Ironshore.
Boyanov & Co advises financial institutions on high-profile and big-ticket finance transactions, banking M&A deals, debt restructurings, note issuance and regulatory matters.
DLA Piper consultant Michael Gill has been elected to chair the Code Compliance Committee.
Boyanov & Co provides advice in connection with wealth management, tax planning, business and personal relocation, family law matters and employment law advice.
DAC Beachcroft has announced a 9.7 per cent drop in net profit from £31.7m to £28.6m for the 2013/14 financial year.
Partner, Forensic Services
7KBW has been shortlisted by Chambers and Partners for the 2014 Chambers Bar Awards as Set of the Year for insurance, international arbitration and shipping.
Partner, Forensic Services
We have the breadth of expertise and experience to lead the development of best practice, understand the potential pitfalls you face and know what works in practice.
PwC’s head of investigations looks at the results of the seventh Global Economic Crime Survey and assesses how fraud in the UK has changed over the last few years.
PwC looks at the results of its seventh Global Economic Crime Survey and assesses how fraud in the UK has changed over the last few years.
Neil Hudgell Solicitors has represented two people who suffered injuries as a result of tripping in a sunken drain that had been left in an unsafe condition for nine months.
Lessons from Lehman download
The Pensions Regulator has reported that a settlement agreement had been reached in respect of the Lehman Brothers Pension Scheme.
This bulletin assesses numerous cases, including Collins v (1) Secretary of State for BIS (2) Stena Lane Irish Sea Ferries Ltd and Ahktar v Boland.
The Association of Southeast Asian Nations (ASEAN) was established on 8 August 1967 under the framework of the ‘three pillars’ of regional co-operation
Clyde & Co has hired a Singapore-based aviation team from Kennedys including legacy Gates & Partners big-hitter David Johnston.
A new report from Aviva has found that the average cost of divorcing for each couple has risen 57 per cent, from around £28,000 in 2006 to £43,900.
Restrictive covenant magic download
Many developers are seeking to develop land that is burdened by one or more historic restrictive covenants.
DLA Piper has been named Law Firm of the Year at the Australian Insurance Industry Awards hosted by the Australian and New Zealand Institute of Insurance and Finance.
BLM will be nudging the £100m turnover mark at the financial year-end, according to a “conservative” estimate by managing partner Mike Brown.
Our charity and social enterprise team works with more charities than any other law firm in the country.
We have a focused team specialising in holiday claims — whether it is holiday illness or something more serious such as an accident.
Solicitor — team leader, personal injury, Leeds
The European Commission has launched a consultation on the functioning and future of the Insurance Block Exemption Regulation (IBER).
Don’t forget the 23 September 2014 deadline to ensure your business associate agreements comply with the Omnibus Final Rule download
Covered entities with business associate agreements that were entered on or before 25 January 2013 must revise their BAAs by 23 September 2014.
The new amendments to the Russian Civil Code will only apply to legal relationships that emerge after 1 July 2014.
On 21 June 2008, the passenger cargo vessel Princess of the Stars was lost in the Philippines after sailing into Typhoon Frank.
On 31 July 2014, the Council of the European Union adopted Regulation (EU) No 833/2014, which implements Council Decision 2014/512/CFSP of 31 July 2014.
Oman’s newly signed treaty with Spain reduces withholding tax rates and includes a new limitation on benefits clause to prevent treaty shopping.
A Dacheng team has won the bid of serving as legal counsel for New China Life Insurance (NCI) on a large-scale purchase of real property in Xi’an and Taian.
Bär & Karrer has an established practice advising banks, securities dealers, insurance and reinsurance companies, and other financial institutions in Switzerland and around the world.
Double trouble for D&O insurers as the UK regulators extend the limitation period applicable to disciplinary investigations
Recent legislative changes in the UK are likely to raise concerns for D&O insurers and their insureds.
Ageas (UK), which provides insurance services to more than nine million policy holders, is the most recent in-house legal department to choose Iken.
It is too early to administer last rites to the ‘restitution/disgorgement defence’, but a compelling opinionsuggests that its expanding use has been severely curtailed.
In conflicting opinions released on 22 July, two federal circuits split on whether ACA subsidies are available under a federally operated health insurance exchange.
Compensation for abestosis and mesothelioma: government criticised over mesothelioma review download
The Justice Select Committee has criticised the government for its approach to compensation for asbestos sufferers.
DLA Piper has announced that David J Brummond has joined the firm’s insurance and reinsurance practice as of-counsel in the Washington DC office.
The Court of Appeal has held that Olympic Airlines had not experienced an insolvency event for the purposes of section 121 of the Pensions Act 2004.
This article summarises the legal framework underpinning Guernsey’s successful and diverse insurance sector.
Insurance-linked securities download
These are investment instruments whose value is directly related to insurance risk and whose performance is therefore not correlated with other asset classes.
Eversheds has commented on news that London’s iconic Gherkin is to be sold.
According to Eversheds, the advent of driverless cars on UK public roads will make accident diagnosis increasingly difficult.
In the last of his two-part series, Mark Carver shows how the PI proposals will benefit insurers more than firms.
New entrants in the solicitors’ professional indemnity insurance (PII) market are targeting UK top 50 firms, but smaller practices are finding it harder to find cover.
Irwin Mitchell has announced today that it will form ABS venture IMe Law with insurance company Esure.
Parabis has begun a consultation affecting some 41 staff over the future of its Bristol and Colchester offices.
Following his two-part series in June, Mark Carver discusses the impact of the SRA reforms on all firms.
Navigating the renewals maze for PII has only got harder. We provide a guide to the sector’s underwriters while brokers advise on the best line of action
Culture will absorb management’s attention now the corporate business is rooted
In a recent case, the Scottish Court of Session reiterated the importance of acting consistently with agreed procedures for making a demand under a performance bond.
A Montreal-based artist is suing the producer and broadcaster of 30 Vies — on the basis that footage of a graffiti tag in the opening credits constitutes copyright infringement.
Eversheds has announced the launch of Pathway: a service for pension schemes wishing to carry out a buy-in or buyout.
A new Ontario Bill will make employers liable for the WSIB costs of injured agency employees working for them.
The Prudential Insurance Company of America recently completed a large longevity risk transfer transaction, having reinsured longevity risk of the BT Pension Scheme.
Giving E&O ‘clearance’ advice is usually a mix of substantive legal analysis, practical risk assessment and instinct.
With many legal and regulatory developments still to come in 2014, it is important for financial institutions to consider and understand these changes.
InSure — July 2014: FCA review into insurance price-comparison websites; Insurance Bill introduced; and more download
Addleshaw Goddard has published the July 2014 issue of its InSure publication.
Wragge Lawrence Graham & Co has announced the results of its legacy firms Wragge & Co and Lawrence Graham for the financial year to 30 April 2014.
This briefing deals with a repeal of the provisions of the Income Tax Law regarding the retroactive taxation of receipt from dividends and profit sharing.
On 24 June 2014, Governmental Decree no. 91/2014 (the so-called ‘Competitiveness Decree’) was published in the Italian Official Gazette.
KPMG has commented following the IASB’s issuance of the fourth and final version of its new standard on financial instruments accounting — IFRS 9 Financial Instruments.
Be Global — July 2014: new gender equality reporting obligations in Australia; meaning of ‘last wage’ clarified in UAE; and more
Be Global is DLA Piper’s snapshot of key global employment law developments designed to help you identify legal hotspots across your global operations.
Mr Justice Field, sitting in the Commercial Court, has had to consider the meaning of the phrase ‘proper and business-like’.
In autumn 2011, Thailand suffered severe floods. Among the properties damaged were shops and distribution centres owed by a subsidiary of Tesco.
Are you ready? The Insurance Bill and the Third Parties (Rights against Insurers) Act 2010 may soon become law download
The Insurance Bill, which makes potentially significant changes to the law relating to business insurance, was introduced into Parliament on 17 July 2014.
In Halbig v Burwell, the US court invalidated an IRS regulation that provides premium tax credit subsidies for individuals obtaining health insurance coverage through the federal exchange.
Neil Hudgell Solicitors has won €1.75m for engineer Hendrik Donkers, who lost two limbs in an accident that took place as he went to service a tyre below an aircraft’s nose.
Revenues have hit a five-year high at Kennedys climbing up 10 per cent at the latest year end from £117m to £128.5m.
Eversheds partner Jeremy Irving has commented on news that the FCA is launching an investigation into insurance price comparison websites.
New figures released by the Health and Safety Executive have indicated that the number of cancer deaths in the UK caused by asbestos exposure is continuing to rise.
Eversheds has commented on announcements regarding India’s budget for growth.
Hill Dickinson has placed 39 roles within its counter fraud group at risk of redundancy, with the positions now subject to a 30-day consultation period that began yesterday (21 July).
RPC has reported a 3 per cent drop in net profit from £26.8m to £26m at the end of the latest financial year, alongside a 2.4 per cent rise in turnover from £82.1m to £84.1m.
Real-estate investment in Australia download
Australia offers a platform that allows new foreign investors to embrace the globalisation of real-estate capital with confidence.
There has been a recent trend towards lock-up agreements being waived by the bank in whose favour they are given before the stated expiry date. The ABI has expressed concerns about the recent increased frequency of such waivers.
More insurance companies with a physical presence and long-term plans to grow are forming in Bermuda, according to Conyers Dill & Pearman.
The High Court recently examined principles relevant to the permissibility of using hindsight to value a company for the purposes of a warranty claim.
Weightmans is moving from being a Liverpool insurance firm to a true national commercial player. It just doesn’t like to make a fuss.
The Dentons restructuring, insolvency and bankruptcy group considers the legal, commercial and practical issues.
DLA Piper has represented Blue Cross & Blue Shield of Florida (Florida Blue) in its agreement to sell affiliate OptaComp to AmTrust Financial Services.
Croatia: recent news highlights — increase in mobile operator prices and mass termination of subscription agreements; and more download
Karanovic & Nikolic discusses the recent news highlights coming out of Croatia.
Rector Report on reforming reserve financing transactions: much work remains — six developments download
The PBR Task Force held a conference call to discuss comments to the modified recommendations to the report issued by Rector & Associates regarding reserve financing transactions.
The Life Insurance Amendment Act 2014 came into force last month and has introduced two important changes to Bermuda’s Life Insurance Act 1978.
Property Update: underground energy resources; development; flood insurance for domestic properties; and more download
Wragge Lawrence Graham & Co’s real-estate experts bring you the latest property law issues and provide action points to help you and your organisation.
Andrew Henderson has commented on news that the EU’s markets, banking and insurance watchdogs could be funded from a direct levy on the sector.
Last night RPC scooped the top gong at The Lawyer Awards, Law Firm of the Year. Here we revisit an interview with managing partner Jonathan Watmough in which he reflects on how the firm has shaken up its client list to generate growth
One of the biggest economic challenges facing governments and developers around the world is how to meet the growing demand for infrastructure development.
The insurance world has changed significantly, not just incrementally but fundamentally, as the digital revolution transforms the way we interact and do business.
Penningtons Manches lawyers have set their sights on the defendant’s professional indemnity insurer.
Ince & Co discusses five pitfalls where a lack of awareness and appropriate precaution can lead to significant damage to the company.
Weightmans has hired Edwards Wildman Palmer partner Francis Mackie in a bid to transform its insurance practice.
In the first of a two-part series, Mark Carver considers the SRA’s proposed changes to the professional indemnity market.
Chen Feng, Dacheng senior partner and executive head of the Shanghai office, has been appointed to the Insurance Association of China Lawyers’ Team.
Kennedys has reported a 10 per cent increase in turnover to £128.5m for 2013/14 from £117m in 2012/13.
Luxembourg legal update — June 2014: market abuse; the theft of intangible assets; and more download
Arendt & Medernach has released the June 2014 issue of its Luxembourg legal update.
A new French law (the Consumer Act) that took effect on 18 March 2014 allows consumers to bring class actions in France.
Choice of lawyer critical in health and safety investigations — further clarification now provided by the European court download
Insurers cannot fetter your right to instruct your lawyer of choice in the aftermath of an accident.
In 2006, the Law Commission of England and Wales and the Scottish Law Commission commenced a review of insurance contract law.
Hong Kong has long been celebrated as a leading international financial centre. However, the regulation of its insurance intermediaries has for a significant time lagged behind.
Dacheng senior partner Yu Hui has won the bid to advise China Life, a life insurance company in China, on the formation of an industry investment fund.
Leroy Barnes was receiving disability insurance payments while showing off his dance moves as one the dancing hamsters in the Kia commercials.
Clyde & Co has hired two partners from US firm Keesal, Young & Logan to establish its fifth US office in Orange County, Southern California.
Tax seems to spawn acronyms and we may, at least in a mainland European (if not the UK) context, soon have to get used to a new one: FTT, or financial transaction tax.
UK Automotive Newsletter: the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations; and more download
Dentons has published its UK Automotive Newsletter for June 2014.
The Association of British Insurers (ABI) has published its recommended best practice in relation to lock-up agreements.
Clyde & Co has increased its revenues by 8.5 per cent from £336.6m to £365.1m for the 2013/14 year-end.
The issue of age discrimination and employee insurance is something employment tribunals may well need to focus on as the number of older workers continues to rise.
DAC Beachcroft has put 65 jobs across the UK and Scotland into consultation that launched on 30 May and will vacate its Fountain Street office in Manchester as a result.
RPC’s partnership has elected commercial litigation partner Rupert Boswall as its new senior partner with immediate effect.
DWF has told its Liverpool-based motor fraud team that a forthcoming restructure will involve placing several fee-earner and secretarial staff into a consultation that could result in the loss of up to 37 jobs.
The Court of Appeal has ruled that business interruption and other consequential losses can now be recovered from the police after London riots.
Re-reading the Riot Act (again): police liable for consequential losses under the Riot (Damages) Act 1886 download
As if a lecture at the Police Federation Conference from the home secretary wasn’t enough, the police have also received the Court of Appeal’s reading of the riot act.
Routes to financial redress against banks, investment advisers, insurers, mortgage advisers and product providers download
Susanne Muth discusses some pertinent and recurring themes encountered in the commercial and chancery area of practice.
Pillsbury has announced that for 2014, Chambers USA has ranked 86 individual Pillsbury lawyers, with 12 partners recognised in two or more categories for a total of 98 individual lawyer rankings.
BDK has formed an emergency rapid response team following the devastating floods that hit Serbia and Bosnia and Herzegovina.
Insurance group QBE has turned to Australian supermarket chain Woolworths for its new group general counsel, hiring Peter Horton to succeed incumbent Duncan Ramsay who is leaving the organisation after 21 years.
Foresight is an easy-to-use legal calendar that outlines major cases, government policy and forthcoming legislation right through to 2017.
Investment Management Update: FCA thematic review of clarity fund charges; ABI guide to unit-linked funds; and more download
Macfarlanes has released the 22 May 2014 issue of its Investment Management Update.
Insurance giant QBE has revamped its roster of external advisers for its European operations and created two distinct panels for the first time.
Weightmans has announced the promotion of seven partners, including its first non-lawyer partner, marketing director Sarah-Jane Howitt.
Addleshaw Goddard has announced that it has hired financial services expert and partner Fiona Ghosh from Eversheds.
New York Department of Financial Services proposes stricter standards in reviewing life insurance acquisitions download
The New York Department of Financial Services is proposing to extend stricter standards to acquisition deals across the life insurance industry.
Hill Dickinson has posted a 0.4 per cent increase in turnover to £111.9m for 2013/14 from £111.5m in the previous year.
Regulators in California and New York are concerned about the increased risk of cyber attacks on the security of personal information collected by regulated entities.
The consumer insurance market has seen a fierce tussle for territory. Have the mega-firms won or has the war just begun?
Unprecedented consolidation in the consumer insurance market has halved the number of key industry players in the UK200, The Lawyer’s research has revealed.
On 1 April 2014, amendments to the Contributions Act increasing the general rate for health insurance contributions from 13 per cent to 15 per cent came into force.
Businesses facing a regulatory investigation need access to specialist lawyers right away.
Clyde & Co has entered South Africa with a five-lawyer raid on Linkaters’ ally Webber Wentzel’s insurance and legal liability group.
Kennedys has called on its fixed-share partners (FSPs) to top up their capital contributions to 30 per cent of their salaries in response to HM Revenue & Customs’ (HMRC) changes to partnership taxation.
BLM’s senior partner Mike Brown is intent on leading his insurance-focused firm into the big league.
Addleshaw Goddard has released the new legislation and consultations section of its InSure publication for April 2014.
Addleshaw Goddard has released the new regulatory developments section of its InSure publication for April 2014.
InSure — April 2014: general — the FCA Risk Outlook and Business Plan; Flood Re cover; and more download
Addleshaw Goddard has released the general section of its InSure publication for April 2014.
InSure — April 2014: enforcement download
Addleshaw Goddard has released the enforcement section of its InSure publication for April 2014.
InSure — April 2014: data protection download
Addleshaw Goddard has released the data protection section of its InSure publication for April 2014.
The Law Commission and the Scottish Law Commission have conducted another limited consultation regarding draft clauses from their proposed Insurance Contracts Bill.
Avoid potential FCA fines: ensure proper anti-bribery and corruption systems and controls are in place download
The FCA has fined Besso for failing to have proper controls in place to counter the risk that commissions it shared with third parties could be used for corrupt purposes.
Berrymans Lace Mawer has scrapped its brand in favour of BLM as the insurance firm completes the takeover of Scottish firm HBM Sayers today.
Putative class action in the Southern District of New York challenges use of ‘shadow insurance’ download
A new putative class action suit alleges that the use of ‘shadow insurance’ transactions violates New York Insurance Law section 4226(a)(4).
Clyde & Co has made up five UK-based lawyers to partner as part of a nine-strong promotions round to take effect on Thursday (1 May).
Taking the lead on compliance matters to stay one step ahead of the regulator ‘scalp-hunters’ is a priority for Chris Pinney at loss adjuster Crawford
What is an insured defendant obliged to disclose about their private insurance arrangements?
Hogan Lovells has been named as the 2014 International Law Office (ILO) Client Choice Firm Winner for Italy.
The appointment of a Financial Services Ombudsman in Jersey came a step closer on 1 April 2014 when the States of Jersey approved the Financial Services Ombudsman (Jersey) Law 201.
In Legalease’s latest Legal 500 EMEA directory, Wierzbowski Eversheds has earned a number of recommendations.
The Association of British Insurers (ABI) has published its recommended best-practice approach to lock-up agreements.
Eight firms including Slater & Gordon, Irwin Mitchell and Hodge Jones & Allen are gearing up to battle Osborne Clarke over claims for compensation from the £3.3m estate of former TV presenter Jimmy Savile.
Conyers Dill & Pearman has advised on the licensing by the Bermuda Monetary Authority of Watford Re, a multi-line Bermuda reinsurance company.
Binder Grösswang has been recognised as Austrian Law Firm of the Year 2014 at International Financial Law Review’s (IFLR) annual European awards in London.
DLA Piper has announced that four lawyers have been named to Law360’s ‘Rising Stars’ list.
Financial services newsletter — trade reporting obligations from 12 February 2014; standard form for EMIR reporting; and more download
Eversheds has released the latest version of its financial services newsletter.
In this video interview, Washington DC public policy and regulation partner Mike Zolandz discusses how the 2014 mid-term election will affect US policy.
Conyers Dill & Pearman has promoted six attorneys to the role of partner or director.
New ABI guidance download
The ABI has issued guidance on lock-up agreements, in particular in response to concerns over the extent to which lock-ups are waived during the lock-up periods.
In Marshall v Prescott, the NSW Court of Appeal considered the issue of common interest privilege and when insurers and insureds are likely to have a ‘self-same’ interest in proceedings.
We welcome the Financial System Inquiry (FSI) and the opportunity to offer detailed insights and recommendations to the inquiry via this written submission.
Morgan Cole and Blake Lapthorn have finally decided that three’s a crowd and, after months of flirting with Boyes Turner, gone ahead with a traditional two-way merger.
Mesothelioma Bill hasn’t done enough download
Much has been written and said about the rights and wrongs of the new Mesothelioma Bill, passed by the government earlier this year.
This article is intended to offer developer clients an insight into the current state of play with flooding policy.
Hogan Lovells has advised SCOR on the VIF reinsurance of the individual life insurance business portfolio of Mediterráneo Vida, owned by Banco Sabadell.
Insurance and Reinsurance Newsletter: April 2014 — Italy: new regulations on complaints management; and more download
On 1 April 2014, the draft measure containing amendments to ISVAP regulation no. 24 on complaints handling was published on the IVASS website.
The China (Shanghai) pilot free-trade zone was launched in September 2013 with the promise of significant reforms in a number of areas.
The definition of risk is constantly changing. You need lawyers who know your business and know how to mitigate your exposure.
Our dedicated and highly experienced team of lawyers can help you pursue a claim at no financial risk to you wherever you are in the world.
Recent insurance cases — spring 2014 download
This briefing from Eversheds focuses on three recent insurance cases, including Frank McHugh v Shelbourne O’Brien Ltd Trading As the Stag’s Head.
With the Terrorism Risk Insurance Act set to expire at the end of 2014 unless extended, senators have introduced a bill to extend it.
The travel law team specialises in providing fast, innovative and effective solutions for travel industry clients in this complex and ever-changing area of law.
Partner — Guernsey
Partner — Guernsey
Holman Fenwick Willan (HFW) senior partner Richard Crump has relocated permanently to Singapore in a move that underlines the firm’s ambitious plans to grow its Asia practice.
Partner — Guernsey
Accountants can draw some comfort following the recent Court of Appeal decision in Mehjoo v Harben Barker.
M&A Weekly Update: when is there a duty of good faith between contracting parties; prospectuses: acceptable languages; and more download
Two cases decided last year raised concerns that the English judiciary were becoming more open to implying a duty of good faith into commercial contracts.
A recent Southern District of New York decision considered coverage for a policyholder’s losses caused by ConEd’s Bowling Green Network outage.
Ince & Co (including Incisive Law) has been ranked by Chambers Global 2014 in 23 legal practice areas.
Joanna Page and Richard Smith of Allen & Overy recently attended the ABA’s meeting of insurance coverage lawyers, which is held annually in Arizona in March.
At IBB Solicitors, our specialist team will help you to resolve your disputes quickly and easily — often without the need for court intervention.
We see ourselves as both your legal and business partner and work with you to ensure that litigation doesn’t become an unwelcome distraction from your daily operations.
Hogan Lovells has announced that it has been named as the 2014 International Law Office (ILO) Client Choice Firm Winner for Italy.
The Tax Agent Services Act 2009 has been amended, heralding significant changes to the way financial planners are regulated.
The announcement by the Competition and Markets Authority (formerly the Competition Commission) is the culmination of a two-year investigation into the private healthcare market.
Accountability — April 2014: when can you bring a court claim that has already been the subject of a decision by the FOS? download
According to a Court of Appeal decision, only where the claim arises out of a completely different set of facts or where the complainant has rejected the FOS decision.
Slaughter and May has been instructed by a group of investors seeking compensation from the Financial Conduct Authority (FCA), following leaked inaccurate reports of an investigation into the insurance markets.
GRATA Law Firm’s banking and finance group is a leading legal counsel in the areas of capital markets, project finance and infrastructure projects development and financial transactions
Our pre-eminent litigation practice in the Cayman Islands, Guernsey and Jersey advises clients on the full spectrum of contentious, semi-contentious and advisory work.
At Carey Olsen, our market-leading insurance team offers clients a depth of experience that sets us apart from other offshore law firms.
We advise on all fund structures including open and closed-ended, limited partnerships, unit trusts and companies in the BVI, the Cayman Islands, Guernsey and Jersey.
Allen & Overy has advised Old Mutual on the sale of Skandia Germany and Skandia Austria, part of Old Mutual Wealth, to a Cinven and Hannover Re acquisition vehicle.
The Commercial Court has held that a ‘follow clause’ had the effect of binding a company to a settlement agreed by Lloyd’s syndicates under a separate insurance policy.
This briefing provides an introduction to the factors that determine whether a Jersey insurance business transfer scheme is required.
The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 come into effect from 13 June 2014.
Addleshaw Goddard has released the March 2014 edition of its InSure publication, which rounds up developments affecting the insurance industry.
Eversheds has successfully appealed a High Court decision that had serious implications in relation to the scope of the duty of care owed by accountants to their clients.
A recent Court of Appeal decision suggests that it may not be necessary for a defendant to make a Part 36 offer to secure full costs protection at trial.
In Integral Petroleum SA v SCC-Finanz AG, late service of particulars of claim to an email address not authorised for service was treated as valid under CPR 3.10.
The issue of a claim form, and not the service of it, begins proceedings and gives the court jurisdiction to order costs of and incidental to those proceedings.
Insurance intermediaries should ask open and fair questions of customers to ensure they understand their genuine demands.
The Financial Conduct Authority is set to launch an investigation into 30 million insurance policies sold since the 1970s.
Performance bonds are widely used in a variety of commercial agreements from construction contracts to insolvency business sales.
Allen & Overy has advised the trustee of the ICI Pension Fund on the largest-ever bulk annuity insurance policy (or buy-in) arranged by a UK pension scheme.
The claimant, Wellesley, retained Withers to draft an agreement with a Bahrain bank, Addax. Addax was to invest £2.5m or $5m in exchange for a share of the business.
The Patient Protection and Affordable Care Act imposes significant new reporting requirements on employers providing self-insured group health coverage to their employees.
Last week’s union with Scottish insurance outfit HBM Sayers was Berrymans Lace Mawer’s (BLM) first merger since 1997 (17 March 2014). Is this the start of a new acquisitive era for the firm?
The IASB has brought the publication of an IFRS closer to realisation. But critical decisions remain to be addressed.
KPMG member firms have conducted a survey of Internationally Active Insurance Groups (IAIGs) on the possible costs and potential benefits of global regulatory change.
Following a number of amendments to Australia’s Insurance Contracts Act, Minter Ellison has launched the eighth edition of its Insurance Contracts Act Handbook.
There are many proponents of having complex insurance disputes resolved in London under English law.
As the flood waters recede the key question for those who own or occupy affected properties is who is responsible for fixing the damage?
Shamrock Shake: St Patrick’s Day earthquake in Los Angeles is a reminder to check your property insurance policy download
The St Patrick’s Day earthquake serves as a reminder to be informed about your current and future residential or commercial earthquake insurance coverage.
Blake Lapthorn is set to merge with Morgan Cole on 1 July 2014 to create a firm with a combined turnover of £72m.
Wierzbowski Eversheds has advised the Insurance Guarantee Fund on a multilateral agreement on gathering and providing access to information in the Polish insurance industry.
In a group action for damages for defects in breast implants, the claimants were concerned about the financial position of the lead defendant.
NCTM has announced the internal promotion of four professionals who have excelled in their various areas of the law in the last few years.
Holman Fenwick Willan (HFW) has made up six to its partnership in a round of promotions that will be effective from 1 April.
Berrymans Lace Mawer (BLM) and Scotland’s HBM Sayers are to merge on 1 May to form a £100m risk and insurance firm.
Gerard McDermott QC of Outer Temple Chambers has acted as leading counsel for the claimants in a significant cross-border case.
The corporate team at Nabarro has advised Hiscox on a £200m return of capital to its shareholders.
Chris Busby and Jeremy Irving from Eversheds have commented on news that the UK FCA is set to intervene in the insurance add-ons market.
DLA Piper has appointed aerospace insurance lawyer Vanessa Leigh as a legal director in its aviation practice.
Late notification can have disastrous consequences, with insurers potentially being entitled to refuse to pay the claim.
The Law Commission is conducting a limited consultation on the first available draft clauses from its proposed Insurance Contracts Bill.
Schoenherr’s insurance practice group advises many of Austria’s and Europe’s leading insurers on transactions in the insurance sector, as well as distribution structures, product design and all related regulatory and tax matters for life, non-life, and reinsurance business.
Dacheng has acted as legal adviser for Shenzhen Pingan Real Estate Co on its acquisition of a logistics property project from LaSalle Investment Management Co.
Allianz has been granted an ABS licence for the launch of ALP Law in conjunction with catastrophic injury firm Serious Law.
The government has now confirmed that ‘protected persons’ will not be prejudiced by the statutory override contained in the Pensions Bill.
InCredit — March 2014: insurance download
The insurance section of the March edition of InCredit features a guide to CMCs and complaints handling and discusses the FCA’s comment on the proposed PPI time limit.
It is common in mortgage fraud for lenders to lose advances where their solicitors are innocently duped by fraudsters.
Riaz Karamali, a partner in Pillsbury’s Silicon Valley and San Francisco offices who represents emerging growth companies, answers some common questions innovators face.
Andrew Northage considers another case in which the FCA took enforcement action against inadequate anti-bribery procedures — even where no bribery had occurred.
The last two years have seen Libor manipulation or rate fixing at the centre of a scandal that emerged in the US and crossed the Atlantic to the UK.
What sort of PII issues are likely to face practitioners contemplating accreditation and their insurers?
Philadelphia-based insurance firm Cozen O’Connor has refocused its London strategy with partner hires from Edwards Wildman Palmer and RPC.
Penningtons Manches has secured a favourable judgment for a British family following a High Court trial to determine who was responsible for a fatal road traffic accident in Portugal in 2010.
In 2013, ILS products became more popular and, importantly, products which traditional P&C reinsurers started to actively engage with and underwrite.
InSure — February 2014: BIBA’s budget statement, IMD2 amendments, Insurance Contracts Bill and more download
Addleshaw Goddard has released the February 2014 edition of InSure, which centres on developments affecting the insurance industry.
Top 10 tips — insurance requirements download
Gateley looks at some of the themes that commonly crop up in transactions when negotiating insurance provisions in finance documents.
In the UAE, there are two separate jurisdictions that need to be considered. This update will focus on some recent developments in both jurisdictions.
The issue of what duties a lead underwriter owes to the following market when settling a claim was considered by the commercial court in the context of a ‘follow clause’.
The New York Court of Appeals, in K2 Investment Group, LLC v American Guarantee & Liability Insurance Company, has vacated its own prior decision.
On 10 February 2014, the IRS published long-awaited regulations on the employer shared responsibility provisions under the Patient Protection and Affordable Care Act.
In San Evans Maritime v Aigaion Insurance, the court held that the defendant following underwriter was required to follow a settlement reached by lead underwriters under a follow clause.
The private equity team at Wragge & Co has advised Mobeus Equity Partners on a £6m investment in the management buyout of Entanet International.
New LLP tax rules download
HMRC has published updated guidance on the new ‘salaried member’ rules — the rules that will treat members of an LLP as an employee for tax purposes in certain circumstances.
APRA’s new regime on risk management download
The Australian Prudential Regulation Authority (APRA) recently released a package of governance measures for banks, and general and life insurance companies.
‘Firms must put the interests of customers first’ warns the FCA as it hands down its largest ever retail conduct fine
Failings by insurance intermediary HomeServe have resulted in the company being fined £30.6m, the largest amount ever imposed by the Financial Conduct Authority for the retail sector.
Hogan Lovells has advised Qatar Insurance Company on its acquisition of Antares Holdings, a Lloyd’s specialist insurer and reinsurer.
European Finance Litigation Review — February 2014: litigation concerning banks’ disclosure requirements and more download
This quarterly edition of the European Finance Litigation Review contains coverage of the most interesting cases and developments from across Allen & Overy’s European network.
The recently published FCA sanction against HomeServe Membership provides further insight into the regulator’s expectations of senior management.
Hill Dickinson is consulting on its second cash call in 12 months in response to HM Revenue & Customs’ (HMRC) change to the partnership taxation rules, which will come into effect on 6 April.
Antitrust Matters — February 2014 download
DLA Piper has published the first edition of its global competition newsletter, Antitrust Matters.
Hogan Lovells has continued the expansion of its Los Angeles office with the addition of healthcare litigation partner Michael Maddigan.
There may be circumstances when disclosure of a party’s insurance arrangements can be ordered by the court download
A group of litigants has been granted an order for disclosure of a defendant’s insurance arrangements in respect of the defendant’s potential liability in the litigation.
Business consulting firm BTI has named Pillsbury partners Bruce Ericson and Maria Galeno to its Client Service All-Stars list.
DLA Piper analyses some of the key commercial and regulatory developments of the past year and provides some prognostications regarding the coming year(s).
Ince & Co has launched a redundancy consultation with 10 shipping and finance fee-earners and six secretarial staff.
Court construes in-transit loss clause in voyage charterparty — Trafigura Beheer BV v Navigazione Montanari Spa (Valle di Cordoba)
The Commercial Court has recently considered the meaning of the expression ‘in-transit loss’ in a voyage charterparty.
JPM’s banking and finance clients include major banks, insurance companies and other financial institutions, as well as corporate local borrowers and lenders.
DLA Piper has announced that James Brogan, Paul Hall, Joseph Kernen and Norman Leon have been recognised in a BTI Consulting Group report.
A bridge to Africa: Morocco is the place to be for companies and firms looking to gain a foothold in Africa download
Because of its undeniable political stability due to its monarchy, Morocco is uniquely positioned to play the geostrategic role of a regional power.
Berrymans Lace Mawer (BLM) has picked up two property insurance partners and two fee-earners from Greenwoods, less than a year after the firm merged with Parabis.
Hogan Lovells has advised Héroux-Devtek on the $128m acquisition of APPH and APPH Wichita (together APPH), subsidiaries of BBA Aviation.
The purpose of a net contribution clause is to limit the liability of the person or persons responsible to an amount that would be just and equitable for them to pay.
Stephenson Harwood has appointed Michael Kim as a partner in the marine and international trade practice.
InCredit — February 2014: insurance download
The insurance section of InCredit focuses on the ABI good-practice guide for mobile phone insurance providers and more.
District court finds that insurance premium excise tax does not apply to retrocession transactions download
The federal excise tax on insurance and reinsurance premiums does not apply to retrocession insurance transactions.
No5 Chambers has released the first edition of its Commercial & Chancery Bulletin for 2014.
A number of Hogan Lovells partners have been listed as All-Stars in the 2014 BTI Client Services All-Star report.
The FCA has published a voluntary application for the imposition of a requirement by price comparison website MoneySuperMarket.com.
Pension risk — market update download
Last year was a ground-breaking year. The longevity swap market broke previous records with £8.9bn of liabilities being passed to providers.
Binder Grösswang has appointed attorneys Dr Stephan Heckenthaler and Dr Markus Uitz as partners in the firm, effective 1 February 2014.
Net debt at Reynolds Porter Chamberlain (RPC) has increased by £2.8m according to the firm’s latest LLP filings, from £2.3m to £5.1m.
Former Pannone Connect2Law chief executive David Jabbari has joined Parabis to launch a regional network of firms.
Stay up to date with export controls download
Numerous recent developments in export controls highlight the importance of staying up to date from both a reputational and regulatory perspective.
In this update, Ince & Co sets out the latest developments regarding the EU sanctions against Iran.
DLA Piper Italy has published the January 2014 issue of the Insurance and Reinsurance Newsletter.
The Court of Appeal has revisited the issue of unfair relationship in payment protection insurance (PPI) claims where the payment of commission was not disclosed.
Clyde & Co has bulked up its construction disputes team with the addition of longstanding RPC partner Richard Moody in London.
The OFT can make such a reference if it has reasonable grounds for suspecting that competition for the supply or acquisition of goods or services is not working effectively.
Insurance giant Direct Line Group (DLG) has become the latest new entrant to the legal services market, with the announcement today that the Solicitors Regulatory Association (SRA) has authorised it as an ABS.
Bolton-headquartered insurance firm Keoghs has put 41 staff at risk of redundancy following a restructuring of its counter-fraud team.
Lack of political consensus has led to yet another hiatus in the passage of the Insurance Laws (Amendment) Bill into law.
Nuclear energy policy update: key recommendations from the Conference on Nuclear Third-Party Liability and Insurance download
The Conference on Nuclear Third Party Liability and Insurance took place on 20–21 January 2014.
Compliance will be the watchword for 2014 and beyond. Adhere to deadlines/court timetables and all should be fine.
Twelve months is a long time. It is probably overstating it to say that the profession has seen unprecedented change, but it has been both dramatic and volatile.
InCredit — January 2014: insurance download
The insurance section of InCredit includes information on the Ministry of Justice’s PPI bulletin.
Addleshaw Goddard reports on a Commercial Court judgment in relation to two preliminary issues arising in the context of AstraZeneca Insurance Co’s claim against its excess reinsurers.
Law firms named for allegedly not obtaining indemnity insurance have attacked the profession’s regulator – with some understood to be considering legal action – claiming the process was unfair and slapdash.
This article examines some of the different types of claim or medico-legal query Mills & Reeve received in its Claims Handling Unit or out-of-hours service during 2013.
DAC Beachcroft (DACB) has made its first move into the US through the launch of a representative office in New York.
DLA Piper’s Africa group has expanded in northern, southern and eastern Africa with the addition of three new member firms.
Client briefing: flood insurance download
The government and UK insurers have agreed to develop a not-for-profit flood fund in the form of a mutual reinsurance company.
The first two weeks of 2014 ushered in an extraordinary weather disaster affecting most of the US, causing property damage and business interruption.
KWM has secured a key role advising Medibank Private on the Australian federal government’s scoping study into the potential privatisation of Medibank.
Taylor Wessing’s Insurance and Reinsurance Review summarises the key case law developments in insurance and reinsurance throughout 2013.
The JFSC has published a guidance note relating to insurance business transfer schemes under the Insurance Business (Jersey) Law 1996.
A recent decision from an appellate court in Pennsylvania is good news for policyholders who manufacture products.
Baker & McKenzie has seen two of its Hong Kong partners leaving to join US rivals Dechert and Troutman Sanders respectively.
Popovici Nitu & Asociatii has advised Romanian construction company Hidroconstructia on a new €60m syndicated loan.
The FCA has fined JLT Speciality £1,876,000 for failing to manage bribery and corruption risks created by overseas payments, in breach of Principle 3 of PRIN.
The Upper Tribunal (Lands Chamber) has held that the landlord of a flat let on a long residential lease could not recover the insurance premium from the tenant.
In a report released last month, the FSB provided an update on its initiative to encourage global adherence to international standards.
Allianz Insurance has appointed DAC Beachcroft, Berrymans Lace Mawer (BLM), DWF and Keoghs to its claims legal panel for England and Wales.
DLA Piper advised on more than 20 significant inbound and outbound US transactions that closed last year on behalf of Israeli institutional investors and companies.
Eversheds’ Swedish office has advised Virtusa Corporation, which has acquired Swedish company TradeTech Consulting Scandinavia.
During 2013, Goodman Derrick’s technology group had lead roles in relation to three equity fundraisings for technology companies.
DLA Piper insurance litigation partner David Murphy has left the firm to join US-firm Sedgwick in London.
This decision may prove valuable to policyholders in their disputes over deductibles.
The ECJ has ruled that insurers cannot restrict the freedom of choice of insured persons by insisting on their using panel law firms or the insurer’s in-house staff.
KPMG International has appointed Brian Daly as global insurance tax lead. He also sits on the company’s Global Financial Services leadership team.
Hans Forssell and Göran Johansson from Eversheds Stockholm represented claimants AB SEB Trygg Liv in a dispute in the Swedish Supreme Court.
Back to 2013 — Luxembourg newsflash download
Arendt and Medernach has released a short flashback intended to enable you to keep track of the main legal trends that marked 2013.
DAC Beachcroft appointed professional negligence partner Ian McConkey as Manchester head from the 1 January following an uncontested election for the position.
Conyers Dill & Pearman has announced that Paul Smith has relocated to the law firm’s Cayman Islands office to further support its litigation practice.
Brokers have raised fresh concerns over the Solicitors Regulation Authority’s (SRA) handling of the professional indemnity insurance (PII) renewal process after the regulator admitted it had lost track of some uninsured firms.
Allen & Overy has advised NEXI and a syndicate of commercial banks on the $1.43bn debt financing of the Az Zour North IWPP.
Astrazeneca Insurance v XL Bermuda and Ace Bermuda was the first case in which the English courts had been asked to consider the proper interpretation of a ‘Bermuda Form’ policy.
Clifford Chance is facing a £130m negligence claim after being joined to a suit brought by JP Morgan against German transport provider BVG.
The Department of the Treasury’s Federal Insurance Office has published How to Modernize and Improve the System of Insurance Regulation in the United States.
This client update highlights some of the developments from the Fall National Meeting held by the National Association of Insurance Commissioners.
Corporates and investors have access to capital again and are more willing to consider growth by acquisition. The financial services sector has been particularly active.
The Supreme Court of New Zealand has set aside the Court of Appeal’s decision regarding the effect of statutory charges on the payment of defence costs by D&O insurers.
Addleshaw Goddard has released this month’s round-up of developments affecting the insurance industry.
The third edition of Best Lawyers in the UK has recognised 21 Ince & Co lawyers, with firm representation in the commodities, insurance, litigation and shipping categories.
E-commerce businesses should take a look at the discussion of MFN clauses in the Competition Commission’s Provisional Findings Report in its private motor insurance investigation.
Debevoise & Plimpton and Linklaters have played lead roles advising the $4bn (£2.4bn) landmark bancassurance partnership between AIA and Citibank in the Asia-Pacific region.
DWF has made up ten new partners in its latest round of promotions, with the insurance group taking the bulk of promotions.
Minter Ellison has advised IAG on its acquisition of the Australian and New Zealand insurance underwriting businesses of Wesfarmers.
Mills & Reeve has merged with George Davies Solicitors, increasing its national insolvency and recovery team by 50 per cent.
Addleshaw Goddard has released the November 2013 edition of InSure. This section focuses on new legislation and consultations.
InCredit — December 2013: insurance download
Addleshaw Goddard has released the December 2013 edition of InCredit. This section focuses on insurance.
DLA Piper has advised the shareholders of Garwyn Group Ltd, a specialist liability adjuster, on its acquisition by insurance claims service provider Davies Group Ltd.
Addleshaw Goddard has released the November 2013 edition of InSure. This section is a general update.
InCredit — November 2013: insurance download
Addleshaw Goddard has released the November 2013 edition of InCredit. This section focuses on insurance.
InSure — November 2013: enforcement download
Addleshaw Goddard has released the November 2013 edition of InSure. This section focuses on enforcement.
Addleshaw Goddard has released the November 2013 edition of InSure. This section focuses on data protection.
Conyers Dill & Pearman has been named among the leading law firms in Bermuda, the British Virgin Islands and the Cayman Islands.
The court determined a number of issues about the nature and effect of a policy of professional liability insurance.
IVASS has launched a survey on the sale of insurance policies (typically in the form of group policies) in conjunction with non-insurance products or services.
The Commercial Court has ruled on a number of key legal issues concerning the duties owed by Lloyd’s brokers to remit funds promptly to clients and reinsurers.
On 6 November 2013, the Commercial Court handed down its judgment in Tokio Marine Europe Insurance Ltd v Novae Corporate Underwriting Ltd.
Irwin Mitchell has lost six partners and a team of 24 lawyers and support staff after being raided by TLT in Manchester.
Ince & Co’s insurance group in Asia has won the Claims Legal Services Provider of the Year award at the inaugural Claims Awards Asia.
KWM has advised Pacific Asset Management Co (PAMC) on setting up an asset-backed scheme for a special funding project through raising insurance funds.
Mark Jones will be joining Hogan Lovells’ antitrust, competition and economic regulation (ACER) practice as a partner in the London office.
New York insurers’ investments in firms engaged in Iranian energy sector activities treated as ‘nonadmitted’ download
New York has enacted Chapter 481 of the Laws of 2013, which adds a new section 1415 to the New York Insurance Law effective 11 February 2014.
Hill Dickinson has posted a 6 per cent rise in revenue for the first half of 2013/14 up from £51.9m to £54.9m.
Bristol-based firm Lyons Davidson expects to make 50 redundancies despite securing a number of recent high-profile alternative business structure (ABS) tie-ups.
DLA Piper has represented Horizon Healthcare Services in the dismissal of a suit by the Association of New Jersey Chiropractors and two individual chiropractors.
This update is targeted specifically at claims officers and underwriters of insurers of professionals required to comply with the FOFA reforms.
DAC Beachcroft has issued a £10m cash call to the firm's LLP members while increasing its rolling credit facility to £40m as it pushes toward a revenue target of £200m for the 2013/14 year end.
DWF has continued its upward trajectory with revenue up 57.5 per cent at the half year, with growth largely driven by the February acquisitions of Fishburns and Cobbetts.
Partner and insurance expert Jeremy Irving welcomes greater clarity regarding Solvency II.
Cardiff-headquartered Morgan Cole is transferring its Bristol-based volume claims and catastrophic insurance teams, including five partners, to DAC Beachcroft while Berrymans Lace Mawer (BLM) has picked up a partner and seven staff from the firm.
Chris Garrod of Conyers Dill & Pearman’s Bermuda insurance practice has discussed the rise of insurance-linked securities (ILSs) in Global Reinsurance magazine.
In May 2006, the Alexandros T sank off the shore of South Africa; her owners commenced proceedings in the Commercial Court against the vessel’s insurers for an indemnity.
Hogan Lovells has advised Tokio Marine & Nichido Financial Life Insurance Co on its absorption merger with another group company, Tokio Marine Nichido Life Insurance Co.
Insurers may find themselves effectively fixed with constructive knowledge of certain information available online and hence unable to rely on policy conditions to decline cover.
One of the main Jackson reforms to affect civil litigation was the abolition of the recoverability of ATE insurance premiums and success fees in CFAs from the losing (paying) party.
Taylor Wessing has announced that Mark Fraser has been appointed as managing partner, effective from 1 November 2013.
The AA has become the latest high-street company to be granted an ABS licence by the Solicitors Regulation Authority (SRA) after launching a joint venture with Bristol-based Lyons Davidson.
On 24 October 2013, the Federal Reserve released a proposed rule that would apply a Liquidity Coverage Ratio to certain US banking organisations.
New regulations have become effective that govern how life and non-life insurers in Thailand may conduct investment and engage in other business.
More than 150 firms could face closure after being unable to get professional indemnity insurance (PII) on the open market.
Hiscox has become the latest financial institution to cut its panel, with the insurer slashing its claims roster from 45 to 13.
DLA Piper has been named Law Firm of the Year in Germany for Insurance Law in the JUVE manual Law Firms 2013/2014.
Clyde & Co has received regulatory approval to establish a joint venture in Chongqing with domestic firm West Link Partnership, making it the first international commercial firm to have a presence in south west China.
Hill Dickinson has expanded its London reinsurance practice through the hire of a two partners from US-firm Riker Danzig Scherer Hyland & Perretti.
An unspecified number of jobs have been put at risk in Harper Macleod due to restructuring of its insurance department.
King & Wood Mallesons’ Hong Kong partner Ronald Arculli has been appointed as the first chairman of the FWD Group, the insurance unit of Pacific Century Group owned by Hong Kong tycoon Richard Li.
Kennedys’ merger with Scottish firm Simpson & Marwick has been delayed because “aspects of the merger could not be finalised within the ambitious timetable”, according to a statement today.
This update is intended as a general overview, targeted specifically at claims officers and underwriters of insurers of professionals required to comply with the FOFA reforms.
Slater & Gordon is to take over niche industrial disease firm John Pickering and Partners, the Australian firm’s fourth acquisition since August.
For the second year in a row, Minter Ellison was named Insurance Law Firm of the Year 2013 at the 11th annual AB F Insurance Awards in Sydney.
Allen & Overy, Linklaters and Olswang are among the firms to have missed out on Legal & General (L&G) panel places after the insurer cut its advisor roster from 19 to five, it has emerged.
Mills & Reeve has emphasised the need to read and understand insurance indemnity arrangements.
Legal 500 UK 2013 has recommended Ince & Co as a top-tier law firm in shipping and corporate and commercial.
A court has held that a landlord is not responsible for repairs to the retained parts of a property where the lease does not contain an express repairing covenant relating to those parts.
This update sets out the Future of Financial Advice’s best interests duty.
Insurers have resisted funding the contingency for high-risk properties, which has resulted in governmental persuasion through a series of pooling agreements with the ABI.
Financial institutions e-briefing: professional negligence/title rectification/mortgage fraud download
This financial institutions e-briefing from Eversheds looks at the current overhaul going on in the professional indemnity insurance market.
7KBW’s David Edwards QC has received the Insurance Silk of the Year award while the law firm won Insurance Set of the Year.
Minter Ellison’s insurance practice is one of the largest in Australia and truly national.
Our international insurance and reinsurance team is recognised as a leader in the field, bringing a long track record of great results.
The Commercial Court has ruled that consequential losses arising from riots cannot be recovered from the public purse.
Wildgen newsletter — September 2013 download
Luxembourg law firm Wildgen, Partners in Law, has released the September 2013 issue of its newsletter.
Hogan Lovells was voted the best European law firm at the Reactions Global Awards, which was held in New York on 25 September 2013.
Retired NFL players settle concussion litigation, but potential insurance implications to be determined download
The NFL and helmet manufacturer Riddell Inc faced lawsuits from thousands of former NFL players alleging that injuries sustained during their NFL careers resulted in neurological damage.
Claimant groups will need a lot of convincing about a new proposal for progressing mesothelioma cases
The Insurance Services Office’s 2013 additional insured endorsement revisions place heightened emphasis on contractual risk transfer language.
This briefing provides an overview of some insurance coverage-related issues facing commercial policyholders after a catastrophic storm.
West Virginia is now among the majority of states that recognise defective construction causing bodily injury or property damage is an ‘occurrence’ under standard CGL policies.
Some losses, notably pollution, landslides, asbestos exposure, and other similar losses often arise from progressive injury occurring over a period of years.
Superstorm Sandy: bad-faith claims download
A tool at the insured’s disposal in pursuing insurance claims in the aftermath of Superstorm Sandy.
Insurers may still insist that consumers provide a fair presentation of the risk, but what is fair will be circumscribed by the scope of the new duty under CIDRA.
Clyde & Co increased its corporate turnover by a third during 2012/13, with the group generating revenues of £70.7m over the financial year.
Irwin Mitchell is closing in on a deal with an unnamed Spanish firm which will determine the future of its Spanish subsidiary, Irwin Mitchell Abogados.
North West firm Keoghs has confirmed the appointment of three partners in Greater Manchester.
After being given an A$200,000 criminal fine for safety breaches that led to the death of an employee, a company director avoided personally paying because he was indemnified under an insurance policy.
Keystone Law has closed its 14-month recruitment drive with the addition of a final eight lawyers into its property, employment and insurance teams, bringing the total number to 132.
This year, solicitors’ insurance rarely seems to have been out of the legal news. This has largely been down to the changes to the market that will come into effect from 1 October 2013.
This tool is designed to help covered entities and business associates determine what they need to address under the Health Insurance Portability and Accountability Act.
Intelligent Insurer has named Ince & Co as an overall UK market leader in its annual legal elite survey 2013 for the insurance market.
Focus: 'home insurance' — new provisions concerning management of insurance relationships via the internet download
Life and non-life insurance companies must now arrange suitable areas in their websites reserved for each contracting party.
The FSB has issued proposed guidance on the application of the key attributes of effective resolution regimes for financial institutions to non-bank financial institutions.
Pinsent Masons has hired Clyde & Co partner Manoj Vaghela along with legal director Chamika Hand in its insurance group.
Solicitors’ professional indemnity insurance rates are set to rocket following the withdrawal of underwriter Berliner from the market, leading insurance brokers have warned.
New York has recently enacted and promulgated amendments to its insurance holding company laws and regulations and related laws.
Aviva completes extensive panel rejig, assigning work by jurisdiction
As the renewal season for professional indemnity insurance approaches, insurers see the market hardening
Kennedys has entered into an association with Bogota-based insurance litigation and arbitration boutique Botero Salazar Tobo´n & Abogados (BST).
Allen & Overy has advised ING Group on the KRW1.84tn sale of ING Life Korea to private-equity firm MBK Partners.
Seven more transatlantic mergers, the end of the magic circle and the disappearance of 25 of the current top 100 by 2018 are just some of the wide-ranging predictions made in today’s crystal ball-gazing issue of The Lawyer.
Kennedys has confirmed it is to merge with Scottish law firm Simpson & Marwick on 1 November.
Clifford Chance has missed out on a spot on Aviva’s new group and UK panel, following a similarly unsuccessful pitch for the insurance giant’s plc roster in April.
Manchester-headquartered insurance firm Horwich Farrelly has appointed Allianz Global Assistance UK (AGA UK) chairman Mike Webb to its board in a bid to forge deeper relationships with the insurance industry.
Earlier this year we reported on the Statement of Principles, an agreement between the government and the ABI that ensured that homeowners and small businesses had access to affordable flood cover.
In Bate v Aviva Insurance UK Limited the court considered the rejection of a claim brought by an insurance industry loss assessor under a domestic buildings and contents insurance policy.
Mills & Reeves looks at the proposed introduction of a code of conduct for brokers and what it will really mean for the brokers’ market.
The Consumer Insurance (Disclosure and Representations) Act 2012 (CIDRA) came into force in April 2013. It impacts on any insurer or broker dealing with consumer/personal insurance.
The question of how to allocate multiple losses has recently come before the Supreme Court.
Insurance broker Aon Risk Solutions has stepped into the breach following the news that XL Insurance and AIG intend to significantly reduce their market share in the solicitors professional indemnity (PII) market.
The August 2013 issue of DLA Piper’s Asia: Corporate Newsletter is available now.
Reynolds Porter Chamberlain (RPC) has lost two members of its insurance practice, including reinsurance chief Simon Kilgour and partner Jason Bright.
Insurance giant AIG is to reveal its new legal panel next month following a review of its Emea advisers.
Taylor Wessing has relaunched its shipping practice.
Losses under a programme of excess liability insurance are sometimes prioritised in order to maximise the potential insurance recoveries under the programme.
The now iconic song of 1969 aptly describes the insurance regulatory activity we are seeing in the summer of 2013.
Starting an airline requires entrepreneurs with drive, motivation and vision to turn the idea into a viable reality.
Pillsbury’s Robert James shakes up accepted wisdom and puts to the torch a few cherished myths about the aftermath of the 1906 San Francisco earthquake and fire.
The Financial Services Commission recently reported that there are more than 2,301 entities licensed to carry on insurance business in or from within the BVI.
This article considers what the NSW Court of Appeal’s decision on the operation of s 6 of the Law Reform (Miscellaneous Provisions) Act 1946 may mean for advancement of legal costs on appeal.
'Princess of the Stars': Amlin Corporate Member Ltd & Others v Oriental Assurance Corporation download
At a trial of the action, Mr Justice Field held that there had been a breach of the typhoon warranty.
Luxembourg legal update — July 2013 download
The July 2013 issue of Arendt & Medernach’s Luxembourg legal update is available now.
The collapse of several insurers won’t worry the smart set, but it is likely to be a problem for smaller law firms
The PRC Supreme Court has recently issued the Second Judicial Interpretation of the PRC Insurance Code, which came into force on 8 June 2013.
Allen & Overy has advised HB Reavis Group on the sale of Apollo Business Center IV, a Class A office complex in Bratislava, to Ceská pojištovna.
On 11 July 2013, the ABI published its report ‘Encouraging Equity Investment’ following a review of the processes for IPOs and secondary offerings.
Taylor Wessing has been shortlisted for ‘Professional Service Provider of the Year’ in the Worldwide Reinsurance Awards 2013.
DAC Beachcroft has cut five fee earning positions after restructuring its London employment and pensions team.
DLA Piper in Ukraine has been highly ranked in a number of sectors by legal magazine Gvardia.
A court has considered whether NSW legislation that creates a statutory charge over insurance moneys in favour of third-party claimants applies to advancement of defence costs under a D&O policy.
Insurers and insureds do not bear the risk of a contractor becoming insolvent when undertaking insured repair work.
Interpreting and construing insurance policies: dewatering a pond is not as simple as it seems download
Vero Insurance Ltd v Australian Prestressing Services Pty Ltd reaffirms the importance of interpreting and construing insurance policies according to their own particular terms.
Insurers should take care in specifying situations in which endorsements and special conditions apply within their policies.
DLA Piper has released the July 2013 edition of its Insurance and Reinsurance Newsletter: Italy.
Joining a competitor? The potential consequences of insurance brokers soliciting their former clients download
The Gentech case highlights the importance of using restrictive covenants in employee contracts.
The Chinese insurance regulator has established rules for investing insurance funds in financial derivatives.
DAC Beachcroft has strengthened its corporate insurance and health real estate teams with two partner hires in London.
In Murray’s Transport NSW Pty Ltd v CGU Insurance Ltd, insurers successfully relied on an exclusion clause to avoid a third-party claim under section 51(1) of the Insurance Contracts Act 1984 (Cth).
Third parties wishing to proceed against an insurer under s6 must ensure they fall within the statutory limitation period download
Even where the event and the cover coincide, a third party wishing to proceed against an insurer under s6 must ensure that they fall within the statutory limitation period that would be imposed on any claim against the insured.
The court’s reasons in Ensham Resources v Aioi Insurance Company are now, arguably, the leading decision on the issue of privilege and loss adjuster’s reports.
Kyriackou v ACE Insurance Ltd concerned the refusal of an insurer to indemnify an insured under a professional indemnity policy for his costs in defending ASIC proceedings.
As a (very) general rule, debts and claims rank equally in a company winding up. One of the exceptions to this rule applies where the company being wound up is an insurer.
An insured’s failure to seek the insurer’s prior written consent to incur costs in connection with legal proceedings did not preclude the insured from being indemnified for those costs under the policy.
The issue of whether contamination remediation costs are covered by an insurance contract was discussed in Hamcor Pty Ltd v Queensland.
De Smeth v NSW Fire Brigades Superannuation Pty Ltd  NSWSC 19 considered ICA s57 in the context of a total and permanent incapacity claim.
On 24 June 2013, ASIC released a consultation paper proposing changes to the training standards for financial product advisers
The Insurance Contracts Amendment Bill has now been passed by both Houses of Parliament.
The Federal Government has released the Insurance Contracts Amendment (Unfair Terms) Bill 2013.
The decision in Versloot Dredging BV v. HDI Gerling and others (The DC Merwestone) is of considerable significance to marine insurers and non-marine insurers alike.
Allen & Overy is advising the Dai-ichi Life Insurance Company on its IDR3.3tn acquisition of a 40 per cent stake in PT Panin Life of Indonesia.
Berrymans Lace Mawer LLP (BLM) is to open a desk in the Lloyd’s of London building, its second office in the City.
Particular emphasis is on green field investments and mergers and acquisitions involving insurance and reinsurance companies, permitting/filling and regulatory advice.
We have recovered more than $6bn of insurance policy proceeds for our policyholder clients, and regularly help them obtain broad and appropriate insurance coverage.
SRA should soften consumer focus and clamp down on the unrated sector to secure PI future
The past few weeks have seen a flurry of insurance regulatory activity at the federal, state and international level.
The SRA has announced that it is considering the introduction of a financial rating criteria for professional indemnity insurance (PII) underwriters.
In an appeal from Teal Assurance v WE Berkeley Insurance, the Supreme Court has the opportunity to consider and perhaps jettison the hold harmless fiction.
After-the-event insurance has been a popular way of protecting claimants against a loss in litigation but its future is now in question
As a result of the recent entry into force of the CIDR Act 2012, insurers and insureds will have to be aware of changes affecting the treatment of consumer complaints by the FOS.
Non-sensitive personal data must be processed in a way that complies with the eight data protection principles. There are additional requirements if the data is of a sensitive personal nature.
Mills & Reeve acquires nine-strong defendant insurance team from DLA Piper.
Clifford Chance has hired Norton Rose Fulbright corporate insurance partner Ashley Prebble, who joins the magic circle firm’s London practice.
Clyde & Co has hired two partners from US firm Robins, Kaplan, Miller & Cires to launch its fourth US office in Atlanta.
Around 1,300 firms will be forced to find replacement professional indemnity insurance (PII) or be put at risk of being closed down after the Latvian authorities yesterday withdrew operating licences from domestic insurer Balva.
Mills & Reeve is taking a nine-strong insurance team from DLA Piper headed by the firm’s Birmingham insurance head Alan Jacobs.
Alice Chan, GC at Prudential Corporation Asia, has to keep a strong grip on a diverse and growing business, recently overseeing a major expansion in Thailand
Hogan Lovells has been recommended by the Legal 500 US 2013 edition in 35 practice areas, including seven rankings in the Tier-1 category.
PRC insurance companies are being encouraged to invest offshore in a number of countries, including Australia.
BISL Ltd has given an undertaking relating to the cancellation terms in its insurance policies, after the Financial Services Authority found the terms to be unfair.
Second Circuit confirms excess insurance is triggered only upon actual payment of all underlying limits download
Federal Insurance Company has achieved an important victory in a long-standing insurance coverage litigation concerning the proper trigger of excess directors and officers insurance.
Changes to the way solicitors insure themselves are kicking in this year. Our peer panel surveys the new landscape.
Ince & Co is celebrating the 20th anniversary of the opening of its Piraeus office.
Mills & Reeve has announced that its merger with Manchester firm George Davies has completed.
Kennedys will formally merge with aviation practice Gates & Partners this weekend (1 June).
US-based insurance giant Lockton has announced the hire of Towergate legal chief Sam Clark as its new general counsel.
DLA Piper has received 177 individual lawyer and 64 practice rankings in the latest annual Chambers USA.
Global GC Adam Rosman’s role at insurance broker Willis demands that he not only defends the business against current risk but that he spies any potential on the horizon
Reactions readers have voted Hogan Lovells as the top insurance and reinsurance law firm in the London market and in the EU.
Admiralty and maritime law is one of the most ancient of all bodies of law, with legal practice in this area deeply intertwined with marine transportation, international trade, international clearing, insurance and other related fields.
The May 2013 issue of Winckworth Sherwood’s E-gen publication is available now.
Weightmans has announced record revenue figures for the 2012/13 financial year, with turnover hitting £82m - up from £77.1m in 2011/12.
A&O joins Slaughters on Aviva’s plc roster; insurer insisted on discounts
Awards of damages in three recent cases provide powerful ammunition for insurers when seeking to reduce their claims exposure.
A solicitor should not be subject to a non-party costs order for failing to obtain ATE insurance download
The court’s jurisdiction to make a NCPO against a solicitor who had acted under a CFA without the benefit of ATE insurance has been the subject of two recent Court of Appeal decisions.
Defendant insurance firm Plexus Law, a subsidiary of Parabis, is to merge with Greenwoods to create a £90m firm.
Weightmans’ incoming management team has vowed to make its London office a priority as the firm refocuses for a post-Jackson world.
Mills & Reeve has announced six new internal partner appointments, which will take effect from 1 June 2013.
Bermuda insurance companies download
This memorandum has been prepared for the assistance of those who are considering the formation of an insurance company in Bermuda.
The Financial Services Authority (now replaced by the FCA) took action against Digital Satellite Warranty Cover Ltd to wind it up ‘in the public interest’.
Conyers Dill & Pearman has released issue three of its Jurisdiction Update for 2013, covering Bermuda, the British Virgin Islands, the Cayman Islands and Mauritius. Topics include insurance developments in Bermuda, a new ‘approved manager’ regime in the British Virgin Islands, Cayman Islands master funds and more.
Conyers is regularly involved in the largest, most innovative and complex corporate transactions involving companies in Bermuda, the British Virgin Islands, the Cayman Islands and Mauritius.
Insurer MetLife has appointed former UBS Asia-Pacific general counsel Kevin Wilkey as its new head of legal in Asia.
Vehicle incident management group FMG has become the latest business to launch an ABS in a bid to offer legal services.
With the Consumer Insurance (Disclosure & Representations) Act 2012 coming into effect on 6 April 2013, Hogan Lovells takes a closer look at its potential impacts.
FTSE100 insurer Admiral has stepped into the legal sector via two ABS joint ventures, with Bristol-based claims specialist Lyons Davidson and Cardiff-based compensation firm Cordner Lewis.
Motoring giant RAC has laid the foundations for a move into the legal market after agreeing a deal with the Quindell Portfolio estimated to be worth £500m annually.
Insurance group Ageas UK has become one of the first insurers to set up an ABS to provide legal advice.
Taylor Wessing has released issue six of its UK Regulatory Update.
Thomson Reuters’ Super Lawyers publication recognises Ince & Co.
Ince & Co has been recognised in Chambers Global 2013: The World’s Leading Lawyers for Business.
Conyers Dill & Pearman has been highly ranked in the 2013 edition of Chambers Global.
DLA Piper has released a summary of all of the firm’s rankings and editorial commentary in Chambers Global 2013.
Insurance e-brief — March 2013 download
Ince & Co has released its insurance e-brief for March 2013.
AIG is considering a reverse auction for law firms pitching to win places on part of its legal panel amid a review of its Emea advisers.
Ramifications of the recent ‘Bermuda Form’ judgment will undoubtedly cause insureds concern.
The FSA and OFT have published their final guidance and summary of responses on Payment Protection Products.
Insurance expenses giant Das Group has completed its acquisition of Bristol personal injury firm CW Law.
NCTM offers services to both Italian and foreign insurers, re-insurers and others doing business in Italy.
Key legislative proposals on establishment of the Independent Insurance Authority in Hong Kong download
The Financial Services and the Treasury Bureau of the Government of the Hong Kong Special Administrative Region (HKSAR) has, on 26 October 2012, published legislative proposals on establishment of the Independent Insurance Authority (IIA).
Partner and head of the Moscow representative office
Ashurst, US firm Davis Polk & Wardwell and Slaughter and May have won roles advising on the planned IPO of Esure.
Insurance lawyers at Norton Rose and RPC are among the founding members of an LGBT network for the insurance industry.
Bowman Gilfillan offers insurance expertise in both the dispute resolution and corporate departments.
Blanket notification of claims is likely to be sufficient to trigger an insurance policy.
The lawyers within our Insurance and Reinsurance Law practice advise insurance and reinsurance companies as well as insurance intermediaries on all regulatory matters relevant to their businesses.
Chadbourne promotes four attorneys to counsel in New York and Washington DC.
The Commercial Court has confirmed the position that the insured losses caused by the 9/11 attack on the World Trade Centre arose out of two events and not one.
Opinions on Several Issues Concerning the Implementation of the Regulations on Work-related Injury Insurance (Consultation Draft) has been released to solicit public comments.
No workable solution has yet been found to the flood insurance question.
The latest round of ABS approvals has seen a motor claims specialist with an in-house law firm, a £15m national firm and a costs specialist all gain licences.
Liability insurers need to be aware of the US Supreme Court’s decision in The Catholic Child Welfare Society and others v Various Claimants and the Institute of the Brothers of the Christian Schools  UKSC 56, which represents a further development in the law of vicarious liability.
Insurance e-brief: November 2012 download
The objective of this e-brief is to provide short and focused summaries of legal developments of interest to insurance professionals in the UK and elsewhere.
This month’s round-up of developments affecting the insurance industry.
This month’s round-up of developments affecting the insurance industry.
How do you apportion a claim under a liability policy? The answer, according to the Court of Appeal, is you don’t.
DLA Piper has represented Fosun International in its private equity investment in Peak Reinsurance Holdings Limited, a Bermuda reinsurer with operations in Asia.
Our insurance team specialises in advising on the establishment, regulatory compliance and business operations of insurance and reinsurance companies based in the Cayman Islands, Guernsey and Jersey.
Central to our commercial insurance work is our investment in clients and the effort we put into understanding their needs and problems. We will strive to find you practical and business-like solutions, because litigation in any dispute should always be the last resort.
Ince & Co has worked with the insurance and reinsurance markets for more than 100 years.
In November a guidance note was issued by the Hong Kong Privacy Commissioner for Personal Data to provide the insurance industry with practical guidance on how to comply with the Personal Data (Privacy) Ordinance Cap. 486 when collecting and using personal data of customers.
The TW Annual Insurance and Reinsurance Review summarises the key case law developments in insurance and reinsurance throughout the year.
The China Insurance Regulatory Commission (CIRC) issued the Circular on Issues relating to Investment of Insurance Funds in Equity and Real Estate on 16 July 2012
The United States has enacted a new round of sanctions on Iran targeting non-U.S. companies that are conducting business with Iran related to shipping, shipbuilding, insurance, and metals.
An update on issues in corporate law, covering acquisition agreements, insurance-linked securities and the general economic climate in Europe.
DLA Piper is to offload its Manchester and Sheffield defendant insurance practices to Hill Dickinson.
DLA Piper has confirmed that it will shut its Glasgow office in the coming months and is on the cusp of agreeing deals with takers for its defendant insurance practices following the conclusion of a collective consultation.
Ashurst and a group of Malaysian firms have advised on the RM1.8bn (£373m) sale of Aviva’s Malaysian joint venture CIMB-Aviva to Sun Life Financial and Khazanah.
Manchester insurance litigation firm Horwich Farrelly has become the latest top 200 UK firm to gain an ABS licence.
An overview of issues in insurance and reinsurance law, including the impact of Hurricane Sandy and shipping insurance news.
Clyde & Co has expanded in the US with the addition of a three-strong team to its New Jersey office.
Linklaters and White & Case have landed the lead mandates as Bupa makes its first foray into the Polish healthcare market by acquiring the country’s largest healthcare provider LuxMed Group from Mid Europa Partners for €400m (£326m).
Bournemouth-based insurance company Liverpool Victoria (LV) has promoted general counsel Rachel Small to group company secretary.
DAC Beachcroft has joined forces with business process services provider Innovation Group in a bid to boost its motor claims practice.
NAIC 2012 Fall national meeting download
The National Association of Insurance Commissioners held its 2012 Fall National Meeting from 29 November to 2 December 2012 in National Harbor, Maryland.
Hurricane Sandy wreaked havoc on the East Coast of the US. When it struck land, Sandy was approximately 950 miles wide.
Freshfields Bruckhaus Deringer has advised HSBC on the $9.4bn (£5.8bn) sale of its entire shareholding in China’s Ping An Insurance Group to Thai conglomerate Charoen Pokphand Group, which was represented by Linklaters.
Ince & Co has appointed former Clyde & Co partner Richard Britain as head of its newly formed corporate insurance practice.
Ince & Co has announced the appointment of corporate insurance partner Richard Britain, who joins the firm as head of our corporate insurance practice.
Quindell Portfolio, has signed deals to acquire claims management company Accident Advice Helpline (AAH) and law firm The Compensation Lawyers (TCL).
RPC is to restructure its media practice into the intellectual property group following the exit of media head Jaron Lewis.
Lockton International general counsel Charlotte Taggart has left the broker for private practice, becoming a corporate insurance partner at RPC.
Insurance firm Kennedys is in early-stage tie-up talks with Scotland’s Simpson & Marwick and is preparing to put the prospect of a merger to its partners.
Clyde & Co’s Manchester fraud head Damian Ward is to take a team of 17 to Keoghs after quitting the firm in the summer.
Clyde & Co is considering launching a second Saudi Arabia base in Jeddah, as it emerges that the firm has delayed transferring partner Ben Cowling to the country’s capital Riyadh amid a logistical hitch.
Insurance firm Parabis has launched in Scotland with the hire of HBJ Claim Solutions litigation head Tony O’Malley.
DAC Beachcroft and Chilean firms Seguros Lex and Amunategui y Cia are to join forces to create DAC Beachcroft Chile from today (1 November 2012).
Norton Rose is the latest firm to be raided by Milbank Tweed Hadley & McCloy, with the US headquartered firm hiring financial disputes partner Charles Evans.
Mayer Brown has seen another partner departure from its City base, with high-profile reinsurance litigator Ian McKenna leaving to join US rival Locke Lord.
Reynolds Porter Chamberlain (RPC) has appointed a chief executive officer for its nascent Asia practice to lead the development of the regional base.
Clifford Chance and Norton Rose have made first-time appearances on the corporate legal panel of Bournemouth-based insurance group Liverpool Victoria (LV).
Berrymans Lace Mawer (BLM) has made its first office opening outside the UK with a base in Dublin.
Kirkland & Ellis has been instructed by Chinese insurer, Ping An Life Insurance Company, in a landmark arbitration case against the Kingdom of Belgium, believed to be the first such case to be filed by a Chinese company at the World Bank’s International Centre for Settlement of Investment Disputes (Icsid).
DWF managing partner Andrew Leaitherland has said the firm is on the lookout for further growth in Scotland.
On 28 August 2012, the UK’s Financial Services Authority published a consultation paper which includes proposals to amend the rules on how insurance firms deal with client money.
Allen & Overy (A&O), Linklaters and Slaughter and May are advising as the Royal Bank of Scotland (RBS) plans to float Direct Line Insurance in one of the biggest IPOs of the year.
CMS Cameron McKenna regulatory and disputes head Liam O’Connell is set to join Norton Rose as a partner in its insurance litigation practice.
Five firms have won panel places to handle insurance litigation claims on behalf of a group of London boroughs.
Insurance firm Parabis is set for a £50m cash injection after being granted an ABS licence by the SRA, allowing it to take private equity investment from Duke Street.
Travelers has hired a counsel from Flagstone Re as head of legal and compliance across its European businesses.
Gateley has sealed a deal with global insurer ACE Group to create a legal advice service for businesses and senior directors and officers (D&O).
The ARP is on its way out and law firms are becoming more commercial, which should make renewals less fretful
Keystone Law is aiming to more than double its turnover within three years to £25m by attracting 50 new lawyers to its ranks.
RPC has revealed a 10 per cent rise in turnover to £68m for the 2011-12 financial year, while net profit has climbed 9.5 per cent to £23m.
Lawyers and underwriters are getting battle-ready for the new ATE arena as Jackson LJ’s litigation reforms approach
International expansion has boosted turnover at Holman Fenwick Willan (HFW) by 10 per cent with the firm posting turnover of £123.8m at the year-end, up from £112.5m in 2010-11.
DAC Beachcroft is continuing on the acquisition trail with the appointment of three partners, including Eversheds’ local government practice head Judith Barnes.
Herbert Smith corporate insurance duo Adam Levitt and Hammad Akhtar have quit the firm to join Ashurst.
DAC Beachcroft is to boost its claims solutions group with the hire of Zurich Financial Services’ European claims director Bill Paton.
US firm Goldberg Segalla is to launch in London next month after hiring reinsurance heavyweight Clive O’Connell.
Regulation is the overriding issue for in-house insurance lawyers. Our experts examine where they allocate legal spend in a rapidly changing environment
Acquisition-hungry firm Parabis Group is to take a cash injection from private equity house Duke Street.
Australian insurer QBE is to launch a non-claims UK panel review and establish its first European panel.
The court can enforce an arbitration award if it is for a negative declaration, the Court of Appeal (CoA) has ruled in the much-anticipated West Tankers case.
Kennedys has endorsed the reelection of senior partner Nick Thomas to a fourth consecutive term at the helm after he stood unopposed.
Global insurer RSA has appointed Will Bloomer to the newly created role of UK head of litigation.
FTSE100 insurer Admiral is considering a move into the legal sector following the ban on personal injury referral fees by the Ministry of Justice (MoJ) earlier this year.
Mills & Reeve has made its fifth lateral hire this year with the appointment of insurance partner Paul Spibey.
Simmons & Simmons has hired a corporate insurance partner from Berwin Leighton Paisner (BLP) – its sixth hire from the firm this year.
Hogan Lovells has appointed a new head of corporate and regulatory insurance to replace John Young, who retires in April 2012.
Legal expense insurers cannot use cost as the sole basis for refusing to underwrite fees for policyholders who use non-panel solicitors, the High Court has ruled.
The merger between Beachcroft and Davies Arnold Cooper (DAC)?has been overshadowed by Barlow Lyde & Gilbert’s upcoming tie-up with Clyde & Co.
Chartis, the property casualty insurance carrier of US insurance giant AIG, is to launch its first European panel in 2012 in an effort to streamline its legal spend.
Irwin Mitchell is to transfer 81 support staff to business process outsourcing (BPO) company OCS as it looks to streamline its cost base in preparation for converting to an alternative business structure (ABS).
Quadrant Chambers is to launch an arbitration division with the appointment of retired High Court judge Sir David Steel.
Barlow Lyde & Gilbert insurance partners Simon Cooper and Kiran Soar have defected to Ince & Co ahead of the firm’s merger with Clyde & Co.
The Supreme Court has ruled that people in Scotland who have been affected by the asbestos related condition pleural plaques have the right to compensation.
Firm in bitter litigation with insurance broker Lockton
Collyer Bristow is in dispute with its insurance broker Lockton Companies International over whether the intermediary has placed adequate liability insurance to cover a potential £50m loss in a fast-approaching negligence battle.
North West firm DWF has made six new appointments to its London insurance and retail teams with hires from Berwin Leighton Paisner (BLP), K&L Gates, Plexus Law, Vizyard Wyeth and Zurich - the insurance provider.
The PI insurance market is in a transitional phase, with new entrants heralding better times for smaller practices and fewer firms ending up in the assigned risks pool. By Martin Hall
RBS Insurance has appointed RSA Insurance group legal director Humphrey Tomlinson to the role of general counsel and company secretary.
Four insurance and reinsurance partners are set to leave the Bristol office of CMS Cameron McKenna in a mass defection to Reynolds Porter Chamberlain (RPC).
Referral fees for personal injury cases will be subject to an outright ban, the Ministry of Justice said today.
Global firm Mayer Brown has grown its corporate and securities practice and insurance industry group with the hire of Colin Scagell as a partner in London.
Volume houses are driving the delivery of legal services, says Katy Dowell
After-the-event insurance is changing, and it is the smaller cases that will suffer the most.
Personal injury lawyers have applauded former justice secretary Jack Straw’s calls to ban referral fees, saying the practice does not benefit law firms or their clients.
Clyde & Co has completed its merger with Canadian insurance firm Nicholl Paskell-Mede (NPM).
Davies Arnold Cooper (DAC) and Beachcroft are in merger talks to create a £175m insurance giant, The Lawyer can reveal.
Beachcroft has focused on its core domestic insurance practice in its latest round of partnership promotions, bringing six into the fold.
Potential merger would ’destroy the competition’ in insurance sector
Barlow Lyde & Gilbert (BLG) is planning to merge with fellow insurance firm Clyde & Co, in a deal that would propel the combined entity into the UK top 10 by turnover.
The High Court has dismissed a judicial review launched by the British Bankers’ Association (BBA) against the FSA and Financial Ombudsman Service (FOS) over the handling of payment protection insurance (PPI) claims.
Linklaters and Norton Rose have clinched new spots on Prudential Group’s global legal panel, in a move that formalises both firms’ long-standing relationships with the financial services giant.
Clyde & Co has raided Lloyds of London broker Howden for its general counsel Simon Gildener.
London insurer Jubilee Insurance has appointed Beachcroft to run off the claims for its motor insurance business.
North West firm Weightmans has confirmed that its plan to acquire Vizards Wyeth’s insurance team will go ahead.
The European Court of Justice (ECJ) has outlawed the practice of pricing insurance premiums based on gender.
Beachcroft is to phase out its ringfenced ’B2 from Beachcroft’ brand and roll out the volume business across its real estate and employment practices.
Clyde & Co has appointed partner Robert Ansehl to build a corporate insurance practice in its New York office.
Kirsty Cooper has been appointed to the dual role of general counsel and company secretary at Aviva.
Davies Arnold Cooper (DAC) is putting Latin America at the heart of its strategy with a formal association with São Paolo boutique insurance law firm JBO Advocacia.
SRA comes down on Optima-Capita deal despite leading counsel giving green light to investment strategy
Taylor Wessing has hired litigation partner Susannah Wakefield from Bermuda firm Attride-Stirling & Woloniecki, where she was a counsel.
Incoming Halliwells staff ringfenced into sub-LLPs to protect against potential claims from legacy clients
Morgan Cole has signed a delegated authority deal to enable it to broker after-the-event (ATE) insurance to clients.
Prudential has launched a revamp of its UK legal team with the creation of a new head of legal role.
Insurance and litigation firm Kennedys has reported a 31 per cent rise in turnover to £88.25m at the 2009-10 year-end.
Commercial insurer QBE has promoted Esther Felton to head of legal replacing Adrian Williams, who is set to join Irish firm Matheson Ormsby Prentice.
Relations between the Solicitors Regulation Authority (SRA) and solicitors’ professional indemnity insurers have soured in recent weeks, resulting in underwriters calling for a radical overhaul of the sector.
New Europe-wide regulations to harmonise non-contractual obligation laws have had the opposite affect, says Paula Jefferson and Sarah Wright
Davies Arnold Cooper (DAC) has named Edward Coulson as head of its Manchester insurance practice.
Every time a defective product is recalled, the company responsible must follow a long, meticulous and costly process of expiation. By James Stanbury
Lovells is to close its seven-partner Chicago office after it underperformed for a number of years.
US firm Sidley Austin has hired two Pinsent Masons partners for its London insurance practice, including the head of Pinsents’ insurance group.
Video Test 5: You Tube video
Debevoise & Plimpton and Slaughter and May have landed prize roles on Prudential’s proposed $35.5bn (£23.9bn) purchase of American International Group’s (AIG) Asian insurance business.
Debevoise & Plimpton and Slaughter and May have landed prize roles on Prudential’s proposed $35.5bn (£23.9bn) purchase of American International Group’s (AIG) Asian insurance business.
Debevoise & Plimpton and Slaughter and May have landed prize roles on Prudential’s proposed $35.5bn (£23.9bn) purchase of American International Group’s (AIG) Asian insurance business.
Litigation specialist Cubism Law has started a dedicated insurance group with the hire of two new consultants.
Clyde & Co has extended its US footprint with the launch of an office in New Jersey.
Prudential has appointed its interim general counsel and company secretary Margaret Coltman to the role on a permanent basis.
Plexus Law has strengthened its links with insurance giant QBE by acquiring the insurance practice of Whitfield Hallam Goodall.
Insurance firm Keoghs has hired Steve Thomas, formerly technical claims director for general insurance giant Zurich.
Insurance giant Zurich has revamped its UK legal panel, with Bevan Brittan losing out while Beachcroft and Pinsent Masons have held on to their spots.
Professional indemnity firm Plexus Law has acquired insurance boutique Squire & Co.
Pinsent Masons has signed a deal with legal expenses provider FirstAssist Legal Protection that will give the firm delegated authority to broker after-the-event (ATE) insurance.
A riot at a detention centre has resulted in a clearer definition of ‘damages’ in public liability cases, says Richard Mattick
A raft of changes are hitting the insurance market, but what do they all mean for law firms? Dan Cutts explains.
Professional indemnity insurance in the coming year will likely be more of a headache for the smaller firms, but the bigger players should have an easier time of it, says Sandra Neilson-Moore
Clyde & Co has swooped on Barlow Lyde & Gilbert (BLG) to hire insurance partners Roger Doulton, Neil Beresford and Toby Rogers.
Dutch financial giant ING has launched a global panel review in the first appraisal of its key advisers in more than five years.
Can we expect a rash of major directors’ and officers’ claims to hit the UK? asks John Turnbull
The stormy economic conditions will prove a tough test for reforms intended to improve insurance contract certainty and overall standards. By Paul Wordley and Graham Denny
Insurance boutique Hextalls has lost a team of eight, including two partners, to Kennedys.
Insurance group Pearl is cutting back its legal function following its £5bn takeover of rival Resolution.
Professional negligence claims against solicitors have rocketed, prompting underwriters to warn of a 10 per cent hike in solicitors’ professional indemnity (PI) insurance rates.
The crisis among financial institutions has created a dearth of groundbreaking and unique work for banking and finance lawyers, much of it coming from the regulators.
Boyes Turner partner Adrian Desmond has been elected as chairman of the Forum of Complex Injury Solicitors (Focis). He replaces Richard Vallance of Charles Russell, who has held the role since 2007.
Hill Dickinson celebrates Maersk’s Liverpool relocation" /Maersk Line, the shipping company and division of the AP Moller-Maersk Group, announced last week that it will shift its UK headquarters from London to Liverpool later this year.
Regulators are looking afresh at the activities of professionals, and litigation is sure to follow. But how will these claims be paid for? asks Peter Smith.
A rise in claims against professionals generally follows a downturn – and accountants are no exception. Matt Andrews and Barnaby Winckler look at what could be in store.
A recent case provides useful guidance on when a law firm can and cannot act for a former client. Richard Harrison reports.
Weightmans has been appointed as legal adviser to two public sector bodies in the areas of education and health.
Barlow Lyde & Gilbert (BLG) has picked up a choice mandate for reinsurer Abbey Life Assurance Company on a £1.5bn insurance portfolio sale to Pacific Life.
The legal fallout from the economic crisis will be more severe for professional advisers than ever before, professional indemnity lawyers have warned.
Hill Dickinson is preparing to extend its international footprint with the launch of a Singapore office in March.
Thames Valley firm Morgan Cole has taken over Bristol-based insurance boutique CIP Solicitors, which has four partners and 75 staff.
Canterbury-headquartered firm Furley Page has opened in London in a bid to capitalise on the insurance market.
The Solicitors Regulation Authority (SRA) today launched a series of allegations of misconduct against six partners at Barnsley-based Raleys Solicitors in relation to their handling of compensation claims from sick coalminers.
Thames Valley firm Morgan Cole has taken over Bristol-based insurance boutique CIP Solicitors, which has four partners and 75 staff.
Scores of law firms are in the firing line for professional negligence claims this year, The Lawyer’s annual top cases survey reveals.
Octogenarian Mr Sheppard was pushed into the Manton Miners Welfare in his wheelchair. Frail, elderly and very sick he waited for an hour before springing into action. He leapt from his wheelchair and launched into a tirade against greedy solicitors. Mrs Beckett listened on; her resolve was quiet but equally firm.
Kennedys returns to DLA for fresh pickings" /DLA Piper’s Birmingham office has been hit by a second recruitment assault from insurance heavyweight Kennedys.
Beresfords Solicitors partner Jim Beresford has been struck off along with his colleague Douglas Smith after all but three of 11 allegations of professional misconduct against them were upheld by the Solicitors Disciplinary Tribunal (SDT).
Legal broker Clarity Connections has teamed up with claims management company AIMS Services to offer up to 20,000 cases a month to small and medium-sized law firms.
Staff at Doncaster-based Beresfords Solicitors, which saw name partner Jim Beresford struck off yesterday, is considering launching Britain’s first ‘legal services supermarket’.
The conditional fee arrangement (CFA) model is at risk of collapse due to the high level of litigation relating to after-the-event (ATE) insurance premiums.
The only consumer body able to bring class actions in the UK has slammed the system for being costly, time-consuming and offering little reward.
It may be thought that there is an uneasy relationship between after-the-event insurance and third-party funding, but my experiences have shown this is not the case.
The Solicitors Disciplinary Tribunal hearing against Jim Beresford of Doncaster-based Beresfords Solicitors has been adjourned due to the case proving more technical than expected.
Simon Gildener of insurance brokers Howden is an in-house legal chief with a difference – in what may prove a legal business model of the future, he’s there to advise the company’s clients as much as his own board.
CMS Cameron McKenna has taken a leap of faith in its decision to relaunch its insurance practice with a focus on contentious work, as revealed by The Lawyer last week (3 November).
Norwich Union is to radically overhaul the legal team of its life insurance business, slashing 20 per cent of its annual budget.
Leading insurance group Aegon has created the new role of UK general counsel, hiring Shepherd & Wedderburn corporate partner Marian Glen (pictured) for the position.
Eversheds health team decamps to Beachcroft" /Beachcroft has taken an 11-lawyer clinical negligence team from Eversheds in a bid to become the leading healthcare practice in England and Wales.
Weightmans team in a month" /A seven-strong team is to leave Weightmans for DWF, joining six insurance partners that announced last month they were making an identical move.
Trawling through the Solicitors Account Rules (SAR) is not fun, even for a hardened managing partner, general counsel or director of risk. But that is exactly what most of them have been doing in the past few weeks in an attempt to deal with the possibility that the money held by law firms in client accounts could be unprotected in the event of a bank insolvency.
Insurance firm Kennedys has raided DLA Piper’s Birmingham office for eight fee-earners to ramp up its liability and professional negligence capabilities in the region.
Following five consecutive years of falling rates, lawyers have been shocked to find that professional indemnity (PI) insurance rates have doubled for the 2009 renewal season. Hardest hit are those already facing a myriad of economic challenges: small firms, sole practitioners and conveyancing practices.
Lloyds of London's broker, Howden, has appointed Simon Gildener as a client-facing general counsel.
Kennedys senior partner Nick Thomas has been quick off the mark to react to insurer clients’ demands with a series of takeovers. And he predicts further consolidation to come in the sector
The Professional Negligence Lawyers Association (PNLA) has launched the largest after-the-event (ATE) insurance group scheme outside of the personal injury sector.
US insurance giant AIG drafted in Sullivan & Cromwell to advise it on its $20bn (£11.23bn) lifeline from ;New ;York ;State regulators.
Sullivan & Cromwell land key AIG roles" /Davis Polk & Wardwell and Sullivan & Cromwell have landed lead roles on the US government $85bn bail out of AIG.
DWF has snared a six-partner insurance team from regional rival Weightmans for its fledgling London office.
The Court of Appeal precludes escape from narrow vacatur grounds available under the English Arbitration Act 1996
Reed Smith has bolstered its French arm with the hire of a three-lawyer shipping team from local Paris firm Bouloy Grellet & Godin.
ACE European Group, the European arm of one of the world’s largest insurers, has overlooked former favourite Lovells on its first formal legal panel.
Resolution general counsel Randal Barker has left the company following its takeover by Pearl Group.
Howard Kennedy has merged with personal injury boutique Douglas-Mann & Co with the aim of bolstering its client base.
Taylor Wessing taps Clydes for insurance hire" /Taylor Wessing has hired Clyde & Co insurance litigation partner Anthony Menzies in a bid to become a bigger player in the insurance field.
Beachcroft has secured former Manchester United hopeful Ben Collett more than £4m in compensation after his football career was prematurely ended five years ago.
Insurance giant Zurich is to establish a hitlist of personal injury (PI) firms in a bid to crack down on claimant practices that bring exaggerated costs orders against it.
Denton Wilde Sapte is facing a £300,000 professional negligence claim from two Indian company directors.
Fladgate faces potential £10m payout as Izodia gets around to negligence action" /Fladgate may have to pay out in excess of £10m in damages if the negligence action brought against the firm by former dotcom company Izodia is successful.
The purpose of the Ministry of Justice reviewing the personal injury process was because the opinion from both insurers and lawyers alike was that the current process was cumbersome, complex and too costly.
With the High Court currently deliberating over the point at which employers – and their insurers – become liable for asbestos claims, the contract law rulebook could well be rewritten.
The Court of Appeal’s recent ruling in Tyco v Rolls-Royce means parties to joint-names or composite insurance would do well to insist that the issue of waiver of subrogation is dealt with when contracts are being drawn up.
Claims that the insurance industry can somehow sidestep the meltdown of the US financial market are wide of the mark, say Linda Dakin-Grimm and Patty Quilizapa
Insurers everywhere are bracing themselves for an upsurge in claims as the global economy slides into recession. And this when the UK insurance market is experiencing some fundamental changes relating to how it handles claims.
Mills & Reeve has continued its insurance recruitment spree, hiring Vizards Wyeth partner Nicolas Oldham for its London insurance team. The firm expects to make another lateral insurance hire by the end of the year. This follows the recent hire of professional indemnity partner Elisabeth Taylor from Halliwells in Manchester.
Eversheds and Slaughter and May have bagged the lead roles on a $1bn (£502.3m) outsourcing deal for insurance company Aviva.
Personal injury (PI) lawyers have slammed the Ministry of Justice (MoJ) for its failure to implement far-reaching reform of the claims process.
Kennedys absorbs RPC’s Tiverton insurance office" /Kennedys has today (28 July) taken over the Tiverton office of its insurance rival Reynolds Porter Chamberlain (RPC) and plans to move the staff to Taunton.
Personal injury (PI) lawyers have slammed the Ministry of Justice for its failure to implement far-reaching reform of the claims process.
Reynolds Porter Chamberlain (RPC) is to hand its Tiverton office to insurance rivals Kennedys as a going concern.
In the field of professional liability, mortgage fraud and claims against professionals arising from it remain the topics of the moment.
Dickinson Dees is the latest firm to launch redundancy talks, entering consultation with three of the four departments in its volume business.
Competition among insurers for legal firms’ business has rarely been fiercer, but the pressure this is putting on underwriters’ rates means some will soon have to walk away from the professional indemnity insurance market altogether, warns Steve Holland
Changes to the way the medical profession is regulated are being brought in for good reasons – but concerns about how they will be implemented still remain.
A forthcoming Lords decision in the case of Moore Stephens v Stone & Rolls could well see auditors better protected from spurious claims.
October will see the end of the solicitors’ professional indemnity (PI) insurance season, when lawyers will again benefit from low insurance rates. Lawyers are being warned, though, of an imminent rating correction.
Pinsent Masons and Wragge & Co have been handed mandates in a £3bn project to build two new aircraft carriers for the Royal Navy. The Ministry of Defence called on Wragges project partners Michael Whitehouse and Jane Pittaway, supported by IP partner Michael Luckman.
The shipping and ship finance markets have always seen strong cyclicality - but for once the current driver for change is not from the shipping market itself, but in the financial market with the banking liquidity crisis which originated in the US sub-prime housing market. So, what can an owner expect if it approaches its banks for finance for a ship right now? The most obvious message is that it is going to cost the owner more and it is unlikely to be able to borrow so much.
Despite the international market’s uncertainty and volatility, the ship finance market in Spain is still experiencing rapid and steady growth. This is largely due to growing interest in the field from banks that have been traditionally wary of the sector. These banks, which often restricted their participation in ship ...
New rules governing the transportation of goods by sea have been drawn up by the UN. Graham Kershaw looks at what the new convention could mean for goods traders, carriers and shippers
Atlanta-based Troutman Sanders is planning a move into the London insurance market following the firm's merger with US insurance boutique Ross Dixon & Bell. London managing partner Robert Bata has pledged to hire "aggressively" in the sector following the move.Troutman Sanders' three-partner City outfit does not currently have an insurance capability. ...
Insurance firm Davies Lavery knocked back a takeover bid from DWF in favour of a merger with Kennedys, The Lawyer can reveal.
CMS Cameron McKenna has boosted its insurance offering by poaching the group legal adviser of insurance broker Jardine Lloyd Thompson Group.
Stephenson Harwood and Norton Rose have snared lead roles on the outsourcing of sharia-compliant insurance, believed to be the first deal of its kind.Norton Rose, led by partner Mike Rebeiro, advised Principle Insurance on the £90m outsourcing...
One of the areas most likely to see the introduction of new forms of collective claim is the field of antitrust damages claims. On 2 April the European Commission published a white paper setting out concrete proposals to make antitrust damages claims easier to bring. The Office of Fair Trading (OFT) also published its own recommendations to the UK Government on this topic at the end of last year. An important part of both proposals are changes designed to introduce more effective forms ...
Organ donation is in the spotlight as the effects of the Human Tissue Act start to appear. Julie Austin reports on how the law has changed since the Nationwide Retained Organs Group litigation
In May 2007, the Ministry of Justice (MoJ) published a set of proposals aimed at radically overhauling the UK's personal injury (PI) system. It aimed to introduce a raft of measures designed to speed up the process with the aim of cutting costs and improving access to justice for both claimants and defendants.
The Ministry of Justice keeps delaying its response to proposals to change the personal injury system, causing massive disruption to law firms. Four lawyers from opposing sides share their concerns
Clinical negligence is an emotive subject.
A rebound in the insurance and litigation markets helped Davies Arnold Cooper (DAC), Nabarro and Weightmans cushion against a second-half market downturn.
HBJ Gatelely Wareing is set to merge with niche shipping and transport firm Holmes Hardingham.
Brokers must take notice of strict guidance from the FSA concerning their duty to the client. David Coupe and Rowena Grundy report.
Martin Watson, founding partner of Watson Farley & Williams, has been elected president of the UK Chamber of Shipping - the first lawyer to occupy this post. Watson has been a senior consultant at his firm since standing down as a partner eight years ago.
The University of Dundee is introducing a bachelor of law degree that enables students to gain dual-qualification in Scottish and English and Welsh law.
Insurance, a market that impacts on every aspect of life, is forever changing in the eyes of the law. Case law is constantly evolving, impacting on how insurers operate.
The House of Lords decision on historical sexual abuse cases is unlikely to result in a torrent of claims being brought, says Kathy Perrin
With the UK facing potential action from Europe over failing to implement the Environmental Liability Directive, perhaps now is the time for action rather than consultation.
Berrymans Lace Mawer has promoted six new partners, one fewer than last year.
The Association of Personal Injury Lawyers (Apil) has hit out at fresh claims of spiralling costs in the legal arena.
The Solicitors' Indemnity Fund (SIF) is to become an insurance claims-handling provider in an effort to keep insurance rates down.
Clifford Chance shipping partner Paul Turner has defected to Clyde & Co as the firm aims to refocus its shipping practice.
Insurers have declared that underwriting non-European lawyers looking to run competition cases in the EU would be almost untenable due to the Akzo Nobel ruling.
Irwin Mitchell aiming for £150m turnover" / Irwin Mitchell managing partner Howard Culley has been re-elected in his 20th year in office and is predicting a 35 per cent rise in turnover to £150m by the end of the financial year.
Reynolds Porter Chamberlain (RPC) is sending a reconnaissance team to Bermuda to scout the possibility of launching on the island.
Standard Life has turned to long-term adviser Slaughter and May in a deal that will see the life insurance giant offload annuity liabilities worth £6.7bn to Canada Life.
In September 2006 the prime minister of Singapore Lee Hsien Loong urged London's leading insurance figures to look east for investment opportunities. The insurance market has since responded with vigour and Lloyd's of London is thriving in the region.
Kennedys is set to launch a Singapore office in the summer with the aim of servicing its insurance clients.
Insurance giant Genworth Financial will be reviewing its European panel firms after merging the legal departments of its payment protection and mortgage insurance businesses.
Personal injury lawyers now have another deadline. The Ministry of Justice has at last made a statement on the proposed claims process reforms for personal injury claims, following the consultation which closed in July last year.
Manchester-based solicitors Rowe Cohen and a raft of other personal injury firms have come to a settlement in The Accident Group (TAG) litigation.
Clyde & Co's US insurance and reinsurance chief Michael Knoerzer has declared that expansion in the US is an urgent priority for the firm, which has hired a partner to boost its transatlantic presence.
UK insurers Norwich Union and Allianz are looking at whether they can sue water authorities for failing to prevent the floods this summer.
Keelys Solicitors has acquired insurance defendant specialist Burrells. The Lichfield-headquartered firm said Burrells would be merged with Keelys London. Burrells partners Derek Burrell and Eamonn Clifford will work directly with Keelys head of costs litigation Simon Murray. Burrells specialises in complex and high-value claims and recoveries for insurers. Keelys managing partner Daniel Keane said the acquisition would boost the firm's national presence.
Norwich Union and Royal & SunAlliance are reviewing their panels in anticipation of a Ministry of Justice overhaul of the PI claims system.
With a role that encompasses Africa, Europe and Asia, RGA International’s new global counsel Catherine Regan has a lot to get to grips with.
Ince & Co’s head of marine casualty James Wilson has been chosen to succeed Peter Rogan as the firm’s senior partner in April.
Barlow Lyde & Gilbert (BLG) has hired three personal injury lawyers as part of its expansion of its casualty practice.
London-based Kendall Freeman's merger with Boston firm Edwards Angell Palmer & Dodge last Tuesday (30 October) has sparked speculation about which UK firm is next for a transatlantic merger.
Barlow Lyde & Gilbert (BLG) has raided shipping boutique Thomas Cooper for marine partner Drew James.
London-based Kendall Freeman is to merge with Boston-based US firm Edwards Angell Palmer & Dodge.
Personal injury boutique Greenwoods is gearing up for aggressive growth after launching an office in Manchester.
CMS Cameron McKenna has rejoined one half of its insurance group to the other in its new City offices in Leadenhall Street.The team was separated when Camerons opened for business there in July 2006 in a bid to be closer to the insurance markets. The move fits in with the firm's new sector-focused strategy, in which insurance and reinsurance was a key practice area.
DLA Piper has hired Clifford Chance senior associate William Harrison as a partner in its Asian insurance practice.
US reinsurance giant RGA International has hired RiverStone Management general counsel and company secretary Catherine Regan as international legal counsel.
Clyde & Co has recruited LeBoeuf Lamb Greene & MacRae partner Michael Knoerzer in New York to spearhead the firm's assault on the US insurance and reinsurance market.
Insurers are finally being dragged into line with the rest of the business world, with a consultation paper on contract law set to shake up the industry. Richard Evans and Tom Watkinson report
The Companies Act has placed greater weight on directors' liability in shareholder claims. Anthony Menzies reports on how the D&O insurance market is set for a boon
Insurers stand to lose more than most if the predictions on climate change hold true. Ashley Prebble and Natalie Perkin report on the industry's response to the scientific evidence
Lovells and O'Melveny & Myers have steered a landmark joint venture between UK insurance giant Prudential and its South African counterpart Discovery.
Addleshaw Goddard’s insurance practice is linking up with its newly created class actions group as the firm repositions itself in expectation of an economic downturn.
Michael Pilkington has joined Holman Fenwick & Willan's Dubai office as a partner.
Insurance law firm Kennedys has announced plans to open an office in Manchester.
Lawyers have lashed out at research from the Association of British Insurers (ABI) that says that injury claims on motor policies take 90 days longer to settle if a lawyer is consulted.
Property and personal injury (PI) work spawned the highest number of negligence claims against solicitors in the first three quarters of 2007, according to professional indemnity insurance broker Lockton Professions.
Clifford Chance has continued its mobility strategy with the transfer of a senior associate from London to Hong Kong.
Insurance specialist Davies Lavery has hired two insurance partners, including Halliwells London head of insurance, reinsurance and professional indemnity John Groome.
Former Freshfields Bruckhaus Deringer restructuring head Peter Bloxham has reappeared as a “policyholder advocate” at Prudential just as the insurance giant instructed Freshfields on a headline deal with troubled mutual Equitable Life.
Cross-border insurance transactions are likely to throw up tax problems. Greg Sinfield and John Young look at how Zurich in particular is addressing the issue
Insurers and reinsurers across the EU await the forthcoming Solvency II regime with bated breath. Martin Mankabady reports
A forthcoming review of the whole personal injury claims system can help eradicate false claims and make the whole process more consensual. Lea Brocklebank reports
Insurance giant Zurich has concluded its secretive review of global advisers, with six firms making it on to its preferred list.
Ince & Co has been hit with a sex and disability discrimination claim from a former reinsurance lawyer who left the firm last April.
Insurance distribution company Primary Group has appointed Barlow Lyde & Gilbert (BLG) partner David Arthur as group corporate counsel. A partner in BLG’s professional liability and commercial litigation team, Arthur joins Primary after 24 years at the firm – 20 of those as a partner. His experience includes acting for large accountants and insurance firms in litigation, including the BCCI and Barings cases. Primary is headquartered in Bermuda and has broking and underwriting capabilities.
DLA Piper Rudnick Gray Cary has secured German insurance capability for the first time with the hire of Clifford Chance insurance expert Herbert Palmberger.
Denton Wilde Sapte (DWS) will rebuild its London contentious insurance and reinsurance practice after losing its five-partner group to Chadbourne & Parke.
Clyde & Co has picked up 10 mandates in London relating to the investigation launched by US Attorney General Eliot Spitzer into broker Marsh & McLennan (M&M). These include an instruction from Munich Re to look at the terms and conditions of its broking relationships.
Reynolds Porter Chamberlain (RPC) is kick-starting a new insurance regulatory and brokers group with the hire of a partner from Akin Gump Strauss Hauer & Feld.
Wachtell Lipton Rosen & Katz last week secured a major victory over the World Trade Centre’s insurers after a jury ruled that the 11 September attacks constituted two separate occurrences for insurance purposes.
Australian and Indian law firms have emerged as unlikely targets for DLA ahead of this Saturday’s (4 December) vote on the merger with Chicago’s Piper Rudnick.
THE Association of British Insurers (ABI) and the NHS Litigation Authority (NHSLA) have distanced themselves from recommendations made in the latest edition of the tables used to calculate personal injury compensation.
Beachcroft Wansbroughs senior partner Lord Hunt of Wirral is taking on a new role as chair of the Chartered Insurance Institute’s (CII) professional standards board. Hunt will be in charge of the launch of the CII’s new code of ethics and conduct, which is being designed to give a code of conduct for institute members and the industry as a whole. The institute is a professional organisation for those working in the financial services and insurance industries.
Tucked away in the heart of London’s insurance hub, between the London Underwriting Centre and Lloyd’s, is a niche firm with a global reach.
Richards Butler has bolstered its insurance and reinsurance group with the lateral hire of Hill Dickinson partner Chris Zavos, who joins as a partner in London. Zavos has expertise in the marine and energy insurance sectors. At Hill Dickinson, Zavos advised underwriters on coverage issues in a broad range of hull, cargo, energy, yacht, construction and liability issues.
From a small Lloyd’s syndicate to an international powerhouse in the space of a decade. Joanne Harris on how the Catlin Group achieved its rise to prominence
Eversheds has poached the head of claims management from Hill Dickinson, its biggest competitor in the high-volume business.
The cost of professional indemnity insurance cover for the top 20 UK law firms dropped by up to 10 per cent this year, according to research for The Lawyer.
DLA’s international association DLA Group is expanding its presence in Eastern Europe after securing its first Polish member.
Eversheds’ Spanish alliance partner Lupicinio Eversheds has tied up with two niche practices.
Insurer Zurich has launched a global review of its external legal services in a move to rationalise its legal spend and will form its first official panel of preferred advisers as part of the process.
Barlow Lyde & Gilbert is opening an office in Singapore as part of its planned expansion in Asia.
It’s that time of year again – the solicitors’ professional indemnity renewal season, when managing partners and finance directors start recognising the difference between managing their third-highest overhead throughout the year, or leaving it to chance.
The input of in-house legal teams at life insurers has come under the spotlight following warnings from the Financial Services Authority (FSA) that some companies are not exercising sufficient control over legal risk.
Norton Rose has consolidated its relationship with two of Europe’s largest insurers. The firm scooped a key role on the initial public offering (IPO) of Admiral and associate Adrian Williams landed the general counsel role at QBE.
Twelve months ago in Liverpool, a new kind of niche firm was born. Sue Mawdsley and Frank Maher left Weightman Vizards to set up a risk management consultancy called Legal Risk. They claim its principal aim is to save its clients money. “Our main focus is on helping firms save more than they spend. We saved one firm half a million pounds last year,” says Maher.
Solvent schemes of arrangement and other exit strategies are helping to keep London at the head of the insurance market, say Ian McKenna and Richard Gregorian
With the removal of barristers’ immunity from negligence actions, a raft of claims was predicted. But as John Bennett reports, this has not transpired
The development of public legislation relating to segregated accounts companies is proving beneficial to the insurance market in Bermuda. Neil Horner reports
Manchester insurance litigation firm James Chapman & Co has expanded its specialist catastrophic injury team with the appointment of partner Philip D’Netto. D’Netto, recently a partner with Ilford firm Edward Duthie Solicitors, specialises in advising insurance clients on catastrophic injury cases. He brings with him client Highway Insurance.
Irwin Mitchell’s Leeds office has appointed a new managing partner.
Half of the UK’s top 20 firms have responded to growing threats of negligence claims by appointing full-time risk managers.
Risk management is now a full-time job at the UK’s biggest law firms. Joanne Harris reports
In our article of 9 August 2004 about Merriman White, we reported that the firm was closed for business. We understand however that the firm has been taken over by two new partners: Andrew Crossley and Dominic Murphy, who have bought the practice from its former partners. Merriman White acts for the majority of its predecessor’s clients and employs the vast majority of its support staff and fee-earners and, as before, will be a specialist practice in its core areas of commercial and ...
A leading corporate partner from Kirkland & Ellis has been appointed as president and chief executive of recovering US insurance giant Conseco.
Insurance group Markel International has appointed its first ever head of legal.
Davies Arnold Cooper has announced a trio of promotions and a new appointment at associate partner level. Janie Castle joins the commercial litigation team in London from Paul Hastings Janofsky & Walker, while Gillian Dada, Mark Shaya and Crispin Tomlinson have all been promoted to associate partner level in the product liability, insurance and property divisions. The promotions follow the recent announcement of five new equity partners at the firm.
With multiple roles for Chubb Insurance, Ranald Munro can keep a watchful eye on all proceedings, from EU legislation to management plans. Joanne Harris reports
Insurers have pulled out of providing legal expenses cover in an arbitration that has grossed the largest lawyers’ fees – some £100m – in any case of its kind in English history.
Anglian Water is set to impose a legal panel on its insurance claims handler Willis.
Niche insurance and litigation firm Kendall Freeman has reported a 44.3 per cent rise in profits in its first full year since the demise of DJ Freeman.
Clifford Chance (David Lewis) acted for Luxembourg steel producer Arcelor on acquiring a 33.75 per cent stake in Companhia Siderúrgica de Tubarão worth $579m (£311.8m), increasing Arcelor’s overall holding in the company to 62 per cent. Vieira Rezende Barbosa e Guerreiros acted ...
The Law Society and insurance giant The St Paul have renewed their joint venture for at least another five years. They have collaborated since the abolition of the Solicitors Indemnity Fund in 2000. The St Paul has since become a leading professional indemnity player, insuring around 20 per cent of the solicitors’ market. First revealed on www.thelawyer.com 29 June
The Council of the Bars and Law Societies of the European Union (CCBE) this week criticised the introduction of a third European money laundering directive.
Ian Hopkins, managing partner of South Wales law firm Leo Abse & Cohen (LAC), makes no bones about how the firm needed a shake-up two years ago. “We recognised that big changes were needed and went through an enormous cultural shift,” he admits. “We were a sleeping giant, but we’ve woken up.”
Despite two years of a hard insurance market and rising professional indemnity premiums, Trevor Moss argues that law firms are better off in the open market than under SIF
Lovells is closing its niche commodities and securities litigation practice in Chicago, a move that will lead to the departure of litigation partner Timothy Carey and two associates.
My, my. The timing couldn’t have been better. A week after Barry O’Brien’s team at Freshfields Bruckhaus Deringer was thrown off the M&S bid, Law Society president Peter Williamson was giving delegates at The St Paul risk management conference an insight into the way the new conflicts rules were shaping up.
Norton Rose is the major beneficiary of FTSE 250 insurance company Amlin’s first legal panel for non-insurance-related work. Linklaters will continue as its key corporate adviser, but Norton Rose will act on corporate and regulatory issues. Group general counsel James Healy-Pratt will focus on forming a legal panel for ...
Sidley Austin Brown & Wood has beaten US rival Shearman & Sterling to win a mandate to defend China Life Insurance in a class action against the company.
A recent industry report has rubbished the idea of a compensation culture, but with businesses being put under increasing pressure from insurance premiums, who can identify where the real problems lie? Jon Robins reports
Professional indemnity insurer The St Paul is launching a new product especially for law firms that convert to limited-liability partnership (LLP) status.
Lovells has split its contentious insurance, professional indemnity and environment group in preparation for an anticipated rise in asbestos claims.
A new survey has revealed that UK law firms are losing clients as a result of computer viruses.
After months of stand-off, insurers last week agreed to pay out almost £250,000 in legal fees owed to Hempsons Solicitors, which defended the NHS against a large-scale class action funded partly by conditional fee arrangements (CFAs).
Standard Life has finally held a beauty parade for its massive demutualisation, but it is understood that the mutual has not asked Herbert Smith’s star corporate insurance team to pitch for the work.
Hill Taylor Dickinson’s maritime insurance department has been hit with the loss of another key partner, Chris Zavos, who is joining Richards Butler.
Canadian firm Fasken Martineau has bolstered its presence in London with the hire of Canadian Jim Lisson, formerly a partner with Osler Hoskin & Harcourt.
South West firm Bond Pearce has made three internal partner appointments: Bristol-based property litigator James Rees, Bristol-based insurance litigator Nathan Peacey and Southampton-based corporate finance specialist Sebastian Briggs.
Professional indemnity cover is continuing to rise to astronomic proportions. Lynne Abess reports on how partnerships are responding
Halliwell Landau has posted its highest-ever turnover for the last financial year after revenue grew by 12.7 per cent to £40m.
Hill Taylor Dickinson’s maritime insurance department has been hit with the loss of another key partner, this time to Richards Butler.
The titanic battle between two of the New York bar’s trial heavyweights is nearing its end after a US federal jury rejected World Trade Center leaseholder Larry Silverstein’s bid to effectively double his insurance payments from Swiss Re.
Bond Pearce has signed a deal to take 50,000 sq ft of space in a new Bristol development as the firm continues its attack on the South West market.
Reynolds Porter Chamberlain has appointed a new senior partner after the present incumbent stepped down after 12 years in the role.
Bond Pearce in clinical negligence expansion" /Bond Pearce has launched a claimant clinical negligence practice in Bristol as it continues to expand its insurance defence offering.
London’s insurance market is having to adapt to survive. Jodi Bartle speaks to the top in-house lawyers working in the sector
The repercussions of 11 September are still being felt by the insurance industry, which is making some important changes. Marian Boyle reports
The downgrading of many top reinsurance companies by ratings agencies has raised a number of serious questions. Simon Kilgour reports
When the value of a company’s intangible assets is sky high, insurance to cover any losses is essential. Matthew Hogg reports
The regulatory spotlight has now fallen on senior management in the insurance sector, which should beware of the FSA. By Nigel Davenport
Dechert’s London office is pulling out of the insurance market following the departure of partner James Lewis to LeBoeuf Lamb Greene & MacRae. Lewis, who became a partner in the firm in 1992, is expected to leave Dechert at the end of this week. His departure follows that of Charles Brown, head of Dechert’s City construction practice, who is moving to the London office of Philadelphia firm Duane Morris.
Lovells has tightened its hold on key client Prudential, with the firm advising the insurance giant on a development project located in the heart of Cannes.
London-based firm Hextalls is continuing to strengthen its US hold with the appointment of two partners in New York. Mendes & Mount partners Matthew Byrne and Lawrence Rose have joined Hextalls’ reinsurance team, which is based on Wall Street. Byrne and Rose will represent domestic and international reinsurance companies in the US and London.
Simmons & Simmons is continuing to ramp up its mainland China practice with the appointment of Minter Ellison’s former managing partner to its Shanghai office.
US firm Steptoe & Johnson has become the first firm to benefit from the dismantling of Oppenheimer Wolff & Donnelly’s European network.
North West firm Ricksons is poised to dispose of its claimant insurance arm Axis Solicitors, as part of the firm’s strategic shift towards corporate and commercial work.
Hextalls is continuing its attack on the London market, with the hire of Beachcroft Wansbroughs insurance litigation partner Dominic Dennis-Browne to head the firm’s professional indemnity department. Dennis-Browne specialises in defending claims against a number of professions, including solicitors, with particular expertise in claims involving dishonesty. The hire comes just two weeks after the firm took on Druces & Atlee partner Stephen Kingsley to head commercial property.
Hextalls is continuing its attack on the London market, with the hire of Beachcroft Wansbrough’s insurance litigation partner Dominic Dennis-Browne to head the firm’s professional indemnity department.
The Serious Fraud Office’s (SFO) use of a former solicitor – described by a judge as a “liar” and a “thief” – as a leading witness in its prosecution of an $11.5m (£6.1m) money laundering scam has led to the collapse of the case, which cost millions of taxpayers’ money. The case concerned the alleged laundering of proceeds from a fraudulent high-yield investment scheme through the client accounts of several law firms, including the now defunct Swepstone Walsh.
After racking up at least £10m in legal fees, the Serious Fraud Office (SFO) has abandoned a case after being told of a crucial legal point that lawyers argue it should have been aware of from the outset.
The UK arm of Bermuda-based life reinsurer Scottish Re has appointed George Scott as its first ever in-house lawyer.
Insurance company Letsure’s in-house legal team is unique in acting for clients outside the company. By Steve Hoare
2 Temple Gardens has lost a second silk to professional negligence set Four New Square. Jeremy Stuart Smith QC, an insurance and products liability specialist who acted for claimants in the MMR litigation, joined Justin Fenwick QC’s set last week. It follows the arrival last July of 2 Temple’s Graham Eklund QC, a professional negligence silk, and product liability expert David Turner.
CMS Cameron McKenna is losing high-profile and highly-rated insurance and reinsurance partner Mark Elborne to an in-house position at US conglomerate GE.
CMS Cameron McKenna is losing a partner but potentially gaining more work as one of its lawyers joins the insurance and reinsurance division of US conglomerate GE.
Martineau Johnson’s head of pensions Simon Laight has quit the firm to join Pinsents’ Birmingham office.
Steptoe & Johnson is branching out into the UK insurance and reinsurance market after setting up a new practice with the hire of a former Clifford Chance senior associate.
Bingham McCutchen has been drafted into to fight for bondholders in the ever-worsening financial crisis surrounding Italian food group Parmalat.
Five partners of Dutch firm SchutGrosheide are launching their own practice, after disagreeing with the firm’s decision to merge with DLA.
The Master of the Rolls has attacked the UK’s record on looking after accident victims. Lord Phillips of Worth Matravers (left) asked the Government to back the rehabilitation of those affected in its plans to deal with the spiralling costs of employers’ liability insurance. He told delegates at the Forum of Insurance Lawyers annual conference ...
Reading firm Field Seymour Parkes has broken into the insurance and reinsurance market with the hire of Denton Wilde Sapte partner James Pilgrim-Morris.
Pilgrim-Morris is an insurance litigator, with particular expertise in Lloyd's work, reinsurance and product liability disputes. Although Field Seymour already has a commercial litigation capability, this is the firsttime it has been able to offer ins...
The benefits of EU membership, a flexible tax system and grass roots support is seeing the insurance industry flourish in Gibraltar. Brendan Murphy and Nick Keeling report
Benjamin Dyer reports on financing alternatives for Bermuda captives
Brit Insurance, the UK insurance subsidiary of Brit Insurance Holdings, has created its first formal legal panel.
Brit Insurance, the UK insurance subsidiary of Brit Insurance Holdings, has created its first formal legal panel. Many of Brit’s previous advisers have lost out in the review, which has formalised a smaller number of law firm relationships. The full review of service providers kicked off in April and formed part of Brit’s strategic development of claims handling processes.
The seven-partner insurance department of North-East firm Jacksons, which this year announced it was splitting in two, has found a new home with Berrymans Lace Mawer (BLM).
What is the difference between an 'event' and an 'occurrence'? Charles Bending reports on recent insurance cases that have tried to clear up the debate
Should fraudulent insureds lose the legitimate part of their claim or just the inflated part? Alison Hart reports on the diminishing duty of good faith within the insurance market
In response to the Insurance Mediation Directive, the FSA is slapping yet more regulations on insurance intermediaries. Maria Ross discusses the implications
A recommendation from the magic circle has awarded Kendall Freeman a new client in the guise of Germany's Ergo Group subsidiary Victoria Seguros.
The top five insurance firms have all enjoyed massive profit hikes this year as their clients become increasingly litigious in today's hardened market.Kennedys, the best performer, saw profits per equity partner rise by 25 per cent, Beachcroft Wansbroughs profits went up 18 per cent and Reynolds Porter Chamberlain's went up 10 per cent, while Barlow Lyde & Gilbert and Clyde & Co's both saw an 8 per cent increase.Kennedys chief executive Ric Martin said: "There's a link ...
After three years of cheap cover on the open market, law firms this year will pay more for their primary-level insurance than they did in the year that the Solicitors Indemnity Fund (SIF) collapsed.
Pinsents is saying goodbye to three partners and four assistants, originally from its 2001 London merger partner Biddle, following strategy and performance reviews.
The Accident Group's (TAG) founder Mark Langford is not known for his personal touch. Earlier in the year, an attempt at an interview with The Lawyer had to be called off after he became indisposed at the last moment. Not a problem, his PR guy said, we'll just send in his QC and you can attribute his words to the boss. Call us fussy, we replied, but it is a journalistic convention that the subject of a profile be in attendance for his own interview. So it's not surprising to learn that ...
Lovells has completed a ground-breaking study of product liability law for the European Commission. The City firm has recommended that the commission drops plans laid out in its 1999 green paper for radical reform of the product liability directive.
Russell Jones & Walker (RJW) has sought to distance its New Claims Direct service from that of The Accident Group (TAG), which collapsed last week, as well as from the old Claims Direct service, which RJW purchased in February 2003.
The chambers of 4 Pump Court has been hit by the loss of three tenants, including respected commercial specialist Lindsay Boswell QC, to shipping and commercial chambers 4 Essex Court, which has also hired the eminent Littleton Chambers silk Julian Malins QC.
North East firm Jacksons has announced that it is splitting its core areas of business into two new firms, with effect from 1 September.
Brick Court Chambers has recruited Tim Lord from 2 Temple Gardens. Lord has focused on personal injury and insurance work in the past, but has been signed to assist Brick Court with its banking and financial services work. He spent 10 years at 2 Temple Gardens after qualifying at Slaughter and May.
Minter Ellison has rocked the Adelaide office of Phillips Fox by poaching almost 25 per cent of its lawyers.
Sixteen law firms on tenterhooks as insurance giant set to chop panel places; no chance to retender
When Sandra Basaran was hired by Winterthur Life, she got more than she bargained for. Husnara Begum reports
There are no regrets for DJ Freeman's David Kendall and Laurence Harris as Kendall Freeman is born. Emma Vere-Jones investigates
Ince & Co and Weil Gotshal & Manges could end up suing each other as a result of a complex film finance litigation suit.
Following a period of aggressive expansion via numerous acquisitions, insurance outsourcer Rubicon is also trying to cut its legal costs. Husnara Begum investigates
Enthusiastic one minute and prickly the next, Davies Arnold Cooper's Daniel Gowan doesn't like to talk about the past. Julia Cahill reports
Lloyd's of London Names are a dying breed at the oldest insurance market in the world. Down from 35,000 to just 2,490 unlimited liability Names today, individual investors are regarded as an anachronistic throwback needing to be helped into extinction by reform-hungry corporate investors.Sax Riley, the chairman of Lloyd's, has called for members to vote in favour of seeking to update the 1982 act of Parliament that governs the insurance market. An extraordinary meeting ...
Claims Direct has come crashing down to earth. As with all good tragic characters, fatal and inescapable flaws have caused this one-time darling of the London Stock Exchange to self-destruct. Investors' rocky love affair with the personal injury (PI) revolutionary/ambulance-chasing scumbag (depending on your point of view) finally came to an acrimonious end earlier this month.Claims Direct, whose shares had traded for as much as £3.60, called in the administrators when ...
DJ Freeman's new head of corporate Richard Spiller doesn't know why he landed the role, but Kathryn Hobbs is sure he is the right man for the job
Summer is finally here, bringing Wimbledon, ice-creams and unsightly upper arms to the fore. For law firms it also signals the start of the professional indemnity (PI) renewal season. Firms have until the end of August to sort out their PI arrangements, so how does the land lie this year?The PI open market has been in effect for two years since the demise of the Solicitors' Indemnity Fund (SIF) in 2000. Last year the open market generated around £160m in premium income, compared ...
It's that time of year again. The results of a year-long endeavour are awaited and while jubilation awaits the winners, heartache and a 'maybe-next-year' mentality beckons to the losers. Eurovision has been and gone, but The Lawyer Awards - the definitive reckoning of law firm performance - still have to be decided.Insurance firms do not have their own awards category, preferring to enter for litigation or corporate team of the year. So, for one column only, and ...
Law firms and their insurance clients are strange bedfellows. While insurers claim that their lawyers do not work quickly, efficiently and certainly not cheaply enough, lawyers argue that their clients do not understand the vagaries of handling a claim. It is therefore a market with raised eyebrows that monitors the progress of new technology risk insurer Click for Cover and its strategic partner Hammond Suddards Edge.Click is an underwriting agency for a number of Lloyd's of ...
The insurance industry has become the latest bunny to be stunned by the oncoming headlights of the Financial Services Authority (FSA) and its cavalcade of regulators. Since assuming its full powers at the end of November 2001, the FSA has publicly avowed to ramp up regulation of the UK's insurance industry.Regulatory costs are anticipated to rise 10 per cent this year, with the same again the next, as FSA resources are redirected towards the insurance market and away from ...
Title insurers may not be the most popular US import among UK lawyers, but First Title's legal and underwriting director Philip Oldcorn believes there is room for all. Helen Power reports
In a costs hearing last week, Amelans successfully rebuffed an argument which stated that an after the event (ATE) insurance policy provided by Temple Legal Protection should be regarded as a credit arrangement. It was the third in a series of similar cases involving Amelans and Temple and the latest attempt to find a loophole sufficiently large for defendant insurers to squeeze through.The costs hearing was nothing unusual. The legal arguments were inventive and well made, with ...
Robin Spencer isn't the type of man to give himself an easy ride - sorting out the Equitable debacle for work, and for fun running across the Sahara
If Lovells has its way at the High Court, this week should see the conclusion of Equitable Life's att-empts to steer a course for the less troubled waters of a compromise scheme of arrangement. Its progress has not always been smooth. A number of disgruntled former and current policyholders have attempted to run the scheme aground with threats of litigation. But, with Lovells at the rudder, Equitable seems set to achieve the outcome it needs.The mutual, although never far ...
Canada Life UK may have been lying low for a while but the acquisitive company is ever on the lookout for that perfect purchase. Naomi Rovnick discovers it is still a client to watch
CMS Cameron McKenna has scored an insurance victory over Clifford Chance in the House of Lords. A ruling this week upheld the 1999 Court of Appeal decision that reinsurance brokers Johnson & Higgins (J&H) were negligent in their dealings with Aneco Reinsurance. The result marks the first successful claim of its type against ...
Life insurance giant Prudential has appointed Belfast firm Elliott Duffy Garrett as its main adviser for property investment work in Northern Ireland.
Eight insurers opt to leave the Law Society's minimum terms list despite premium hike of fifteen per cent
Following the demise of SIF, Aon Claims Solutions decided to second private practice lawyers rather than have its own in-house team. Fiona Callister finds out how the scheme is going
Weightmans has been axed from two panels, lost its retail and leisure team and seen merger talks collapse, but senior partner Ian Evans is fighting on
Once you get past the complex structure of St Paul's international empire, it is a client that would be a feather in any firm's cap. Fiona Callister finds out that a communication specialist is what's needed
Skandia Life head of legal Ken Morrison won't take any sloppiness from laws firms. Fiona Callister talks to a man for whom impeccable customer service is a given
Herbert Smith has come out on top in the current Independent Insurance collapse.
Regional insurance firm Berrymans Lace Mawer has signed a commercial agreement with 14-partner City firm Druces & Attlee in a bid to provide its clients with a wider portfolio of legal services.`The formal agreement is the first of its kind for Berrymans, which lost more than half of its Liverpool-based commercial department to rival North West firm Brabner Holden Banks Wilson seven months ...
Pittsburgh firm Buchanan Ingersoll is taking on a partner from Denton Wilde Sapte to spearhead a move into insurance work.
Clifford Chance has recruited Ian MacDonald, group legal counsel at CGNU, to its global financial institutions group.
LeBoeuf's James Johnson loves the London life but after six years he is looking forward to returning to New York, despite the different working style
Hextall Erskine senior partner John Bundy fell into law by accident. But the chance stops there- purposefulness has been his driving force ever since
Insurance firm Berrymans Lace Mawer is set to merge with Bristol-based firm Cartwrights.
After testing the water in the UK, Capital One is expanding into Europe. Brendan Malkin meets Nick Carter, the man charhed with overseeing the move and building up the in-house team.
DJ Freeman has appointed corporate insurance specialist Toby Greenbury to the role of senior partner following an equity vote last week. He will take over from litigator Colin Joseph in May.
When Vanni Treves takes over as chairman of Equitable Life, his life promises to be anything but. Can he turn the tables on the headline writers?
Financial Security Assurance provides insurance only for those companies that it believes do not actually need it. Vanessa Pawsey talks to assitant general counsel David Ridl about his favourite type of deal
Philadelphia firm Cozen and O'Connor is hiring its first two UK-qualified insurance partners to boost its fledgling London office.
Davies Arnold Cooper (DAC) is losing an insurance and reinsurance partner to one of its clients, Jardine Lloyd Thompson.
Stephenson Harwood is bolstering its insurance/reinsurance practice by securing a new head from Barlow Lyde & Gilbert.
Lloyd's syndicates Brockbank and Hiscox are setting a new precedent in the insurance market by teaming up for the purchasing of legal services.
Berrymans Lace Mawer and Kennedys are returning to Axa's panel after the insurer finally lifted a six-month suspension on the two firms.
Insurance giant Aon is setting up a 30-strong in-house legal department to be staffed entirely by lawyers on secondment from panel firms.
When insurer Iron Trades decided to restructure its panel last year, it knew it was not going to be a simple operation. After all, when you have no in-house department and you outsource to more than 50 firms, any shake-up has the potential to become very messy indeed.
Dearbail Jordan meets Nick Rochez, Davies Arnold Cooper's senior insurance litigation partner, who caused a stir by going to US firm Leboeuf Lamb Greene & MacRae
Simon Twigden, the head of Addleshaw Booth & Co's London office, has big plans for the firm. Abigail Townsend talks to the man who has his work cut out for him.
Sean Farrell talks to Peter Schwartz, a man who is determined to take a sense of humour with him to Baker & McKenzie - as well as all his clients
Ryan Dunleavy finds that Hextall Erskine's John Startin laughs in the face of law firm panel cuts - he has a cunning plan up his sleeve.
Peter Leaver QC has joined Graham Kelly and Glenn Hoddle on the bench. John-Paul Flintoff discovers that the latest member of football's ruling elite to be sent off still feels mightily aggrieved - and perhaps for good reason
Last week, The Lawyer revealed details of the massive restructure at Davis Arnold Cooper. Now at the helm, with new title of managing director, Nick Sinfield is preparing to steer the firm on a new course. Sean Farrell reports