Insurance

News

Eversheds recruits insurance duo from Dentons

Dentons has lost a corporate partner duo to Eversheds Sutherland, including its former global chair of its insurance group. Martin Mankabady has made the move from Dentons to Eversheds along with fellow partner Adriana Cotter. Mankabady, who led Dentons’ insurance group, had been at the firm for over six years, having joined from Clyde & […]

First Clydes team departs amid merger talks

A Clyde & Co equity partner is set to join The Ince Group, making her the first major exit from the firm as early-stage merger talks continue with BLM. Partner Jennette Newman is to leave after three years at Clydes, having also been a longtime partner of BLM. At Ince, she will become head of […]

Liverpool Victoria

Corporate duo lead ahead of crucial LV= takeover vote

Weil Gotshal & Manges and Clifford Chance are acting as members of life insurance provider LV= prepare to vote on the proposed takeover of the business by Bain Capital Credit. The deal, which has been on the cards for a nearly a year, has attracted a flurry of criticism as it would result in the […]

New York

Expansive Willkie targets DLA for insurance hires

Willkie Farr & Gallagher is expanding its corporate insurance team, having ramped up its hiring activity, particularly in the City, over the past fortnight. Willkie’s new joiners this time are from DLA Piper, with the firm hiring insurance sector co-chair Prakash Paran, who is based in New York. He joins along with DLA counsel Gabriel […]

RSA insurance

RSA appoints new GC after £7.2bn takeover

Insurer RSA Group has appointed a new general counsel after its £7.2bn acquisition earlier this year. Jonathan Cope takes on the GC and company secretary mantle from Charlotte Heiss, who departed the 300-year old British insurer in the summer. As part of the role, he is responsible for the UK and international business, which comprises […]

Analysis

Warsaw Poland

A postcard from Warsaw: Big-ticket deals, but worries for the future

On a June day in 2022, The Lawyer visited several of Warsaw’s top international firms to see how this apparently thriving market is holding up four months after the launch of a war on its neighbour, Ukraine. What impact has the dramatic events of the past few months had on the city, its legal services […]

High Court

Chambers face comms shake-up to avoid contempt of court

Chambers across the Inns are considering how to publicise judgments after the Master of the Rolls, Mr Justice Vos, warned embargo-breaks could see sets being held in contempt of court. The Lawyer understands that many are actively tightening up their internal and external communication policies following a stern warning from Mr Justice Vos back in […]

‘Even pariahs have rights’

When the Conservative MP Bob Seely told the House of Commons that the legal system had become “corrupted” by “amoral” lawyers acting for Russian oligarch clients, it was not surprising that the President of the Law Society launched a robust defence of the profession: “It’s the job of solicitors to represent their clients, whoever they […]

Clouds sky

How law firms react to death

Earlier this year, Cleary Gottlieb Steen & Hamilton’s London office faced an unexpected and upsetting tragedy: the sudden death of one of its junior lawyers. In reaction to the associate’s passing, whom The Lawyer has chosen not to name, the US firm quickly introduced in-person counselling plus further remote follow-up sessions with an external chartered […]

trading money

Fresh capital: there’s a lot riding on the new listings regime

Many in the City feared that IPO activity would stall after Brexit. For high growth technology companies seeking investment, a listing in Germany or Amsterdam seemed more appealing. However, not to be outdone, the Financial Conduct Authority (FCA) last year revealed a series of rule changes for the listing regime, in what was welcome news […]

Revealed: The Top 10 Appeals of 2022

Earlier this month The Lawyer revealed its Top 20 Cases of 2022, featuring a whole host of cases set for trial. However, there’s also plenty of action to be had in the Court of Appeal and Supreme Court, involving the likes of New Look, SKAT and Picturehouse Cinemas. Here are The Lawyer’s top 10 appeals of […]

Featured Briefings

The reality of the value of ATE insurance for high-net-worth clients

I often hear commercial dispute resolution practitioners, unlike their personal injury and clinical negligence colleagues, say “Our clients are not interested in ATE Insurance or disbursement funding because they can afford to pay disbursements and bear the opponents costs if the case is unsuccessful”. I have a few things to say about this view.

The no creditor worse off principle in the resolution of insurers

The proposal for a directive on the recovery and resolution of insurance and reinsurance companies enshrines the no creditor worse off principle as provided for in the Bank Recovery and Resolution Directive (BRRD). This opens the door for the Portuguese legislature to repeat the mistakes it made when incorporating the BRRD into Portuguese law.

Eroding confidence – when things go south with ATE insurance

In the context of ATE insurance and before the trial of the claim, this often will mean the confidence in the insured’s case has been seriously eroded. Unsurprisingly the cause of such erosion can be a number of factors – disclosure may throw up inconvenient evidence, an expert’s report may be less than supportive, or inconsistencies identified in a key witness’s recollection of events that took place a long time ago.

Ireland: Regulations prohibiting ‘price walking’ in motor and home insurance industries published

Following on from the Central Bank of Ireland’s ‘Review of Differential Pricing in the Private Motor and Home Insurance Markets’, price walking was identified as a key consumer risk. On foot of this, the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Insurance Requirements) Regulations 2022 have now been published and will come into force on 1 July 2022.

IFRS 17: the new reporting standard takes effect

After almost two decades in development, International Financial Reporting Standard 17 (IFRS 17) came into effect on 1 January 2022, replacing IFRS 4. This means that IFRS 17 is effective for reporting periods beginning on or after 1 January 2023, with earlier adoption permitted if both IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments have also been applied. The temporary exemption to IFRS 9 Financial Instruments has been extended to 1 January 2023.

Group Litigation – ‘The Right Crowd and No Crowding’

The Temple head office is located just a few miles from the historic motor racing track at Brooklands. In the 1930s the track announced on its posters that it offered “The Right Crowd and No Crowding.” It strikes the author that this catchy phrase sums up the effectiveness of group litigation.

Lender claims in property litigation: a guide based on experience

Property litigation is familiar territory for Temple but one area that often features prominently are claims arising out of the valuation of property. These claims are inevitably cyclical – a downturn in the economy prompts lenders to look to the property against which they may have lent in the past.

Insurance Annual Review

In this review of developments in 2021 and analysis of some of the important issues on the horizon in 2022, Browne Jacobson shares insights that it hopes will enable you to rise to the challenges, and make the most of the opportunities, which lie ahead across various sectors and lines of business.

EIOPA’s Supervisory Statement on the Supervision of Run-Off Undertakings

On 8 July 2021, the European Insurance and Occupational Pensions Authority (EIOPA) published its draft Supervisory Statement on Supervision of Run-Off Undertakings (Paper). The Paper is a precursor to a pan-European supervisory approach to regulating entities in run-off.