Insurance

News

Financial Conduct Authority

Court sides with HSF and Mishcon in landmark insurance test case

The High Court has ruled in favour of the Financial Conduct Authority, arguing on behalf of a group of policyholders, in a dispute over whether coronavirus-induced shutdowns should be covered by insurance policies. The FCA, instructing Herbert Smith Freehills, brought a series of test cases on an expedited basis to resolve uncertainty as to whether […]

Slaughter and May

Double win for Slaughters as firm nabs new Government mandates

Slaughter and May has won two lucrative UK Government contracts for mandates to help the rail, and TV and film industry, worth a combined £3.7m. The firm has won the two separate contracts in a matter of months. The first one will see Slaughters advise the Department of Transport on an international rail project, the […]

Gherkin Kirkland

Kirkland leads for Bain Capital in latest insurance-related investment

Three firms fielded teams of lawyers on a deal that saw Bain Capital Credit agree a strategic partnership deal with insurance investor Beat Capital Partners. Kirkland & Ellis won the mandate from Bain’s credit arm, with a team led by transactional partners Rajab Abbassi and Aprajita Dhundia, as well as insurance regulatory partner Parimah Hassouri and […]

Vancouver

Kennedys enters into formal association with Canadian firm

Kennedys has entered into a partnership with Canadian insurance firm, Dolden Wallace Folick. The association with Doldens takes the number of Kennedys’ offices, associations or co-operations around the globe to 63. This is the firm’s first association with a Canadian firm and follows the US merger three years ago with Carroll McNulty & Kull. At […]

Zurich

Five firms make the grade in Zurich’s new large claims panel

DWF and DAC Beachcroft are among a quintet of firms that have successfully landed roles on Zurich Insurance Group’s newly-launched panel. The roster, which will cover a geographic area spanning Europe, Middle East and Africa, will be tasked with handling large claims across its operations in the EMEA region. The full line-up includes longtime advisers […]

Analysis

New Look

The New Look deal is a watershed moment for Latham

New Look’s long-rumbling restructuring journey is emblematic of a shifting order of restructuring advisers in the City. A decade of financial engineering at the hands of private equity has left the retailer fighting and shifting between magic circle and US legal advisers. Latham’s prescient poaching of star talent has paid off, having sealed the sole […]

The ‘New How’: How Shoosmiths’ lockdown project took shape

In early 2020, Shoosmiths engaged a design agency to build a promotional campaign around a suite of technology platforms. The idea focused on doing things differently, informed by Prof Richard Susskind’s idea of the ‘lawyer of the future’. The campaign revolved around three platforms the firm had developed over the previous year. They were meant […]

Leaving Fleet Street is an emotional wrench for Freshfields

On a London map, the distance that separates 65 Fleet Street from 100 Bishopsgate amounts to almost three kilometres. But the path that led Freshfields Bruckhaus Deringer from its longstanding institutional home to the shiny skyscraper feels much longer. The firm first signed a lease for the new building four years ago, marking a new […]

Barrister of the week: 5RB’s Adrienne Page QC

Adrienne Page QC has represented newspapers, politicians and barristers in the most sensitive of cases during a sterling 46-year career; however, life hasn’t been without its challenges for 5RB‘s libel doyenne. During her early years as a junior, Page struggled immensely with the stressful experience of going to court, at a time when anxiety in […]

Featured Briefings

Business Interruption Insurance Test Case – Resounding Victory for Policyholders

On 15 September 2020, the High Court held that the majority of businesses who were forced to close as a result of the COVID-19 pandemic and whom hold business interruption (BI) insurance policies are entitled to compensation from their insurers. Subject to limitations under the relevant policies, businesses may now be entitled to a pay-out which would effectively put them back in the position had the pandemic never occurred.

Insurers first to be registered under New Bermuda ISAC Act

The first company and incorporated segregated account (ISA) to be registered in Bermuda under the Incorporated Segregated Accounts Company Act 2019 (ISAC Act) have been licensed as insurance companies. Conyers advised on the incorporation of both the ISAC and ISA and their registration as insurers, working closely with the Bermuda Monetary Authority and the Registrar of Companies.

Cybersecurity requirements for licensees

Entities regulated under the Insurance Law will need to implement cybersecurity measures in proportion to their cyber risk profile by 27 November 2020 following the release of the Rule and Statement of Guidance on Cybersecurity for Regulated Entities by the Cayman Islands Monetary Authority on 27 May 2020.

SRA provides some breathing space for law firms struggling to obtain PI cover

By Zarina Lawley The Solicitors Regulation Authority (SRA) recently published a useful Q&A article on their website which we recommend all law firms take the time to read. It summarises some of the most common queries the SRA has received from solicitors about their rules and the potential impact of Coronavirus. The article discusses professional […]

Capital Markets Update – July 2020

June’s news ICSA publishes updated risk committee terms of reference On 1 June 2020, the Chartered Governance Institute (ICSA) published an updated version of its Terms of reference for the risk committee. The terms of reference are particularly relevant to regulated companies such as banks and insurance companies. ICAEW publishes an introductory guide to dividends […]

Guide to professional indemnity insurance for solicitors

Every practising solicitor must have professional indemnity insurance (PI), which protects against negligence claims made by clients. Like your law firm, solicitor’s professional indemnity insurance policies are unique and it’s crucial that you select the right one to ensure your business is appropriately covered. Unsure where to begin? That’s where this guide to solicitors PI […]

Covid-19 and insurance considerations

Given the novel nature of Covid-19 as a disease, it is not something that had been previously considered in insurance arrangements. Therefore both organisations and their insurers are having to consider the wording of their policies to determine whether there is cover which would respond to any losses. As Covid-19 has been formally classified as […]