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Not just a question of timing – Supreme Court rules on the assessment of damages for premature cancellation
The Supreme Court has held that a party could only recover nominal damages for premature cancellation (repudiation) of a sales contract on GAFTA Form 49[1].
Read morePushing the (tonnage) limits
This update highlights two recent changes in tonnage limits – one international, the other in Hong Kong.
Read moreCharterparty arbitration clauses: too much of a good thing?
It is a fact of commercial life that, at least with the benefit of hindsight, contracts are not always drafted clearly.
Read moreEnforcing jurisdiction agreements in the EU – Brussels casts out "abusive litigation tactics"
Disputes over jurisdiction (i.e. where a claim is heard and determined) are commonplace in shipping and international trade.
Read moreNew Compulsory Marine Liability Insurance Gives Shipowners and their Insurers the Blues
The Nairobi International Convention on the Removal of Wrecks 2007 comes into force later this month (18 April 2015 and 17 May 2015 for Malta and Tuvalu respectively, but 14 April 2015 for all other contracting states, including the UK).
Read moreHong Kong expected to introduce mandatory low-sulphur fuel regulations
Many vessels currently calling to Hong Kong voluntarily burn low-sulphur fuel, in return for financial incentives under a scheme introduced by the Government in 2012.
Read moreAn uncharacteristic appeal: Ocean Victory decision reversed
Charterers (and their insurers) concerned by the first instance decision in The "Ocean Victory" may rest a little easier following the successful appeal which saw Daiichi Chuo overturn a judgment of over US$130 million against them.
Read moreCocaine Haul Leads to Limitations on War Risk Exclusion
It is a sad fact that drug traffickers like to use ocean-going vessels to help them move their product.
Read moreSingapore High Court allows extension of time in collision case despite multiple opportunities to arrest.
Following a collision between ORINOCO STAR and MELODY in Nigerian waters on 20 June 2011 and subsequent unsuccessful settlement negotiations between the parties, owners of the vessel MELODY issued a writ and proceeded to arrest ORINOCO STAR on 6 December 2013.
Read moreOW Bunker update – Hong Kong company applies for winding-up
Hong Kong Court records available publicly today show that a Petition was presented last Friday to wind up O.W. Bunker China Ltd (a Hong Kong company).
Read moreBunker disputes – Bankruptcy of OW Bunker A/S and associated companies
We are receiving numerous enquiries regarding the fallout from the bankruptcy of OW Bunker A/S and certain associated companies.
Read moreContainer weight fraud
Container weights is a hot topic at the moment, with the IMO set to introduce new requirements for the verification of container gross mass.
Read moreCourt rejects "capital" punishment
Appeal considers relevance of ship sale following early redelivery
Read moreNew Safety and Health Guidelines to Protect Seafarers
The International Labour Organisation has agreed guidelines to assist governments in implementing occupational safety and health provisions previously set down in the Maritime Labour Convention 2006.
Read moreHong Kong's top court confirms loss of cover
The importance of complying with insurance warranties
Read moreNo bouncing back for directors
Banned! Fraudsters! – Terms used by the Insolvency Service for directors who abused the government backed loan scheme which was put in place to help businesses struggling during the pandemic.
Read moreMoney Covered: The Week That Was – 17 April 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreA look at D&O insurance (With Natalie Graham)
Welcome to Insurance Covered, the podcast that covers everything insurance.
Read moreMoney Covered: The Week That Was – 11 April 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreML Covered - April 2025
We are pleased to share our latest instalment of ML Covered, our monthly round-up of key events relevant to those dealing with Management Liability Policies covering D&O, EPL and PTL-type risks.
Read moreMoney Covered: The Week That Was – 4 April 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreNavigating the world of insurance finance (With Stephen Brookson)
Welcome to Insurance Covered, the podcast that covers everything insurance.
Read moreMoney Covered: The Week That Was – 28 March 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreA look at reinsurance (With Ben Rose)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Ben Rose, Co Founder of Supercede.
Read moreML Covered - March 2025
As we welcome the New Year, we are pleased to share our latest version of ML Covered, our monthly round-up of key events relevant to those dealing with Management Liability Policies covering D&O, EPL and PTL-type risks.
Read moreProduct bulletin: February 2025
This product law bulletin highlights the EU Accessibility Act, allergen labelling updates, changes to the EU product safety framework, progress on the Product Regulation and Metrology Bill, makeup ingredient awareness, and the UK government's new e-bike and e-scooter safety campaign with updated battery guidelines.
Read moreThe Challenge of the Multi-Generational Workplace (With Dr Eliza Filby)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Dr Eliza Filby, and in this episode the discuss the multi generational workplace and the challenges that come with it.
Read moreMoney Covered: The Week That Was - 28 February 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreSingapore chapter: "Trends & Developments" in Chambers Insurance & Reinsurance Global Practice Guide 2025
Economic uncertainty continued to cast a shadow over global markets as 2024 came to a close. Contributing factors include persistent geopolitical tensions, fluctuating inflation and interest rates, and shifts in global trade dynamics. While the insurance industry has not been immune to these challenges, it has demonstrated remarkable stability amidst the evolving risk climate.
Read moreDirectors beware: Key legal shifts in 2024 and what’s ahead for 2025
The legal landscape for directors and officers (D&O) underwent significant developments in 2024, with court rulings and regulatory changes raising the stakes for company leaders and their insurers.
Read moreThe underwriting of new AI risks (With Chris Moore)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Chris Moore, head of Apollo ibott 1971, and in this episode they discuss the underwriting of new AI risks.
Read moreMoney Covered: The Week That Was – 14 February 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreHay Day at the Court of Appeal
On 30 January 2025, the Court of Appeal gave its judgment in Norman Hay Plc v Marsh Limited. Marsh had appealed against Mr Justice Picken's decision, in which he refused their application for summary judgment and/or to strike out the claim. The appeal was dismissed, the court concluding the issues should be addressed at trial.
Read moreThe top three employment issues for insurers in 2025 (With Kelly Thomson)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Kelly Thomson, Partner is RPC's employment team and they discuss the top three employment issues for insurers in 2025
Read moreImportant changes to note in accountant ethics code update
In this article we consider the anticipated updates to the accountant's Code of Ethics and explore the ripple effects on insurance policies.
Read moreML Covered - February 2025
We are pleased to share our latest instalment of ML Covered, our monthly round-up of key events relevant to those dealing with Management Liability Policies covering D&O, EPL and PTL-type risks.
Read moreMoney Covered: The Week That Was - 31 January 2025
Welcome to The Week That Was, a round-up of key events in the financial services sector over the last seven days.
Read moreNavigating PRA's data request for crypto-asset exposure
On Dec. 12, the Prudential Regulation Authority issued a data request to identify firms' current and expected future crypto-asset exposures. In this blog, we discuss the request, and what implications may arise for financial institutions and their insurers.
Read moreA look at the Piper Alpha disaster (With John Lane)
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by John Lane, and they discuss the Piper Alpha disaster of 1988.
Read moreRPC Premier Law recognised across six areas in The Legal 500 Asia-Pacific 2025
RPC, a law firm deeply invested in client ambitions and commercial success, is proud to be recognised once again in The Legal 500 Asia-Pacific 2025 guide for Singapore, securing a host of new and improved rankings for 2025.
Read moreAnnual Insurance Review 2025
With the Christmas and New Year festivities already becoming a blur in the rear-view mirror, what better way to blow away the few remaining cobwebs and see-off the January blues than to immerse yourself in RPC's Annual Insurance Review 2025.
Read moreRising to the challenge, how insurers will adapt in 2025
The global insurance industry is on the brink of transformation as geopolitical tensions, accelerating AI adoption, and escalating climate crises converge to create a perfect storm in 2025. From navigating a volatile economic landscape to addressing emerging risks in cyber and ESG, insurers face a year of unparalleled complexity and opportunity.
Read moreA guide to buying and selling English residential property
We are seeing increased positivity in the English residential property market. In 2024, inflation reached the Bank of England’s 2% target, down from 11.1% in 2022, which was a significant factor in the return of consumer confidence and economic growth. Mortgage rates are falling slightly with approval rates at their highest level since 2022 as buyers continue to respond to increased certainty post-election. Property values are again on the rise while demand continues to outstrip supply.
Read moreD&O
2024 highlighted the importance of a directors' duty to consider or act in the interests of creditors where a company is insolvent or bordering on insolvency. The claim brought by the liquidators of BHS Group against certain of its former directors following the group's collapse into insolvency in 2016 saw the first time where a court held company directors guilty of "misfeasant trading". The directors were held to have not considered the creditors' interests before entering into an onerous and expensive secured loan which would exhaust the group's assets if it could not be repaid. The directors were therefore found to have acted against their statutory duties by entering into the loan instead of the group going into administration.
Read morePensions
A key development in 2024 has been the Court of Appeal's ruling in Virgin Media v NTL Pensions Trustees II Ltd [2024] EWCA Civ 843, which has significant implications for contracted out final salary pension schemes. The court confirmed that any amendments affecting guaranteed minimum in these schemes must be accompanied by a so-called Section 37 actuarial conformation. Without this confirmation, the amendment is deemed void, regardless of whether such confirmation would have been granted had it been sought at the time of the amendment.
Read moreConstruction
This year the new Leasehold and Freehold Reform Act 2024 (the LFRA) enacted various amendments to the Building Safety Act 2022 (BSA), which came into force on 24 July 2024 and 31 October 2024.
Read moreCyber and data
Last year's edition of the Annual Insurance Review included predictions that 2024 would see a trend towards an increased general level of cyber security given (i) the importance placed on security measures by regulatory bodies such as the ICO and (ii) the focus cyber underwriters had placed on assessing prospective insureds' security before offering cover.
Read moreFinancial professionals
In March 2024 the FCA published the findings from its Thematic Review of retirement income advice, looking at the landscape c. 9 years post-pension freedoms against the backdrop of an ageing population. No fundamental problems were identified but the FCA set out some areas for improvement, from more consistent fact finding to considering the value being provided in respect of any ongoing services.
Read moreInternational arbitration
The Arbitration Bill received its first and second readings in parliament in July 2024. Having first come before parliament in September 2023 under the UK's then Conservative government, it will once again proceed through the House of Lords and House of Commons, before receiving Royal Assent and becoming law.
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