PII: trends and disruptors

Professional indemnity insurance (PII) is among the top overheads for law firms, and has led to countless closures by the SRA over the years, with many unable to obtain cover. Now, challenges facing the market range from uncertainty as a result of Brexit  to the rise of AI.

Insight: How RSA runs its legal team

In January, after five years at RSA Insurance, Derek Walsh said he was leaving his role as group general counsel and company secretary. Walsh saw RSA through some troubled times including large losses in Ireland, stringent regulation and unprecedented levels of transactional activity but his tenure ended on a high as the UK-based general insurance company saw a 43 per cent rise in operating profit in 2015.

Featured Briefings

Arbitrator qualifications: Does an insurance barrister have ‘experience of insurance’

By Samantha Holland, Michael Darowski and Christopher Richards In Allianz Insurance Plc & Anor v Tonicstar Ltd [2018] EWCA Civ 434, the Court of Appeal decided that an arbitration clause which provided that the arbitrators must have “not less than ten years’ experience of insurance” did not preclude an insurance QC from sitting as arbitrator. In doing […]

Switzerland: Finma’s new rules on outsourcing for banks and insurance companies

By Rashid Bahar and Martin Peyer On 5 December 2017, the Swiss Financial Market Supervisory Authority FINMA published its new circular 2018/3 Outsourcing – Banks and Insurance Companies. In contrast to the current rules, the new circular not only covers banks and securities dealers but is also applicable to insurance companies…

Central Bank outlines expectations for Irish insurance intermediaries on Brexit

The Central Bank of Ireland has published a special edition of its Intermediary Times newsletter containing important information relevant to Irish insurance intermediaries in relation to service continuity post-Brexit (the “Newsletter”). The Central Bank reminds Irish insurance intermediaries passporting into the United Kingdom (UK) to take the necessary steps: to prevent conducting insurance mediation activities […]

Switzerland: Aftermath of the Achmea ruling – Which way forward?

By Michael Feit and Chloé Terrapon The judgment of the Court of Justice of the European Union (“CJEU”) in the case Slovak Republic v Achmea B.V. (C-284/16) has caused a major earthquake in the arbitration community. The judgment has been eagerly awaited, and since its rendering on 6 March 2018, its exact impact on intra-EU investment […]

Whose terms apply to a contract?

In our recent article, we looked at the necessary ingredients for a contract. When you’ve established that you have got a contract, how do you know whose terms apply? Whose terms and conditions apply? Who wins the battle of the forms? Is there any way to get around the battle of the forms? What if […]

Insurance: IDD implementation likely to be postponed

Today, the deadline for EU Member States to implement the Insurance Distribution Directive (EU) 2016/97 (IDD) officially expires. The IDD introduces a new regulatory framework for insurance distributors. Many Member States have not been able to meet this deadline. To allow the European Insurance industry to implement the new rules in time, a legislative proposal […]

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