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The SRA's proposals for the use of its new fining powers

Published on 29 Sep 2022. By Graham Reid, Partner and Shanice Holder, Associate

The SRA has recently acquired increased fining powers (with effect from July 2022). They are currently consulting on their new approach to imposing financial penalties on regulated firms and individuals.

(Establishing a) Line of duty – Miller v Irwin Mitchell

Published on 27 Sep 2022. By Jo Makin, Senior Associate and Claire Revell, Partner

The recent decision in the High Court case of Miller v Irwin Mitchell (2022) EWHC 2252 (Ch) has provided a helpful guide to the often complex question of when a duty of care either in contract or tort arises – a question that often arises in professional negligence claims against solicitors.

Carnegie-Brown: Sector not yet fully utilising green investment potential

Published on 26 Sep 2022. By Simon Laird, Global Head of Insurance

Lloyd’s chairman Bruce Carnegie-Brown has said the (re)insurance sector could better utilise its role as an institutional investor to support green growth in the global economy but said regulatory changes will be needed if it is to use its assets to their full potential.

Canada’s Harper: Net-zero by 2050 virtually “unachievable” at current pace of change

Published on 26 Sep 2022. By Simon Laird, Global Head of Insurance

Too heavy a focus on national net-zero strategies and a lack of transparency around how global environmental goals are to be achieved could lead to a spike in emissions, Canada’s former prime minister Stephen Harper has warned, adding that existing targets are “unachievable” in their current form.

Carnegie-Brown offers olive branch to eco-activists

Published on 22 Sep 2022. By Simon Laird, Global Head of Insurance

Lloyd’s chairman Bruce Carnegie-Brown has offered an olive branch to the environmental activists who disrupted the near-350-year-old market this year, declaring that he shares their aim of managing the risks from global warming and admires their determination to drive change.

Insurers must “speak truth to power” on climate change: Canada’s former PM Harper

Published on 22 Sep 2022. By Simon Laird, Global Head of Insurance

Canada’s former prime minister has said the global (re)insurance industry has a critical role in speaking “truth to power” when it comes to tackling the impact of climate change because of its investment in data, models and analytics to understand cat risk.

Carter v Boehm: the Duty of Utmost Good Faith - Part 1 (With Iain Anderson)

Published on 13 Sep 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In the first of a two part series Peter is joined by fellow RPC Partner Iain Anderson, and they discuss the origins of the duty of utmost good faith and the case of Carter v Boehm.

The benefits of long-term thinking (With Klisman Murati)

Published on 31 Aug 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Klisman Murati, Founder & CEO -of Pareto Economics, we discuss the benefits of long term thinking on a global scale.

MOJ plans to impose compulsory mediation for all County Court claims

Published on 30 Aug 2022. By Aimee Talbot, Knowledge Lawyer and Kirstie Pike, Partner

The Ministry of Justice has announced plans to impose compulsory mediation (currently a 1-hour telephone call) in small claims and, eventually, in all County Court claims. The MOJ is also considering how the civil mediation market should be regulated. We explain and critique the current proposals and encourage lawyers, their insurers and brokers to provide feedback to the MOJ.

Risks remain after Law Society guidance on solicitors' undertakings

Published on 30 Aug 2022. By Daniel Charity, Associate and Claire Revell, Partner

As solicitors, we are taught from an early stage in our careers that the word "undertaking" should set alarm bells ringing. When an undertaking is mentioned, we are often encouraged to refer it to a supervisor and / or the Risk team. It is true that giving or receiving an undertaking can be fraught with risk – but this is also true of many other aspects of a solicitor's retainer. Why, then, do solicitors need to treat this area with particular caution?

Court of Appeal confirms that conditional fee arrangements do not give rise to implied duty of good faith

Published on 23 Aug 2022. By Daniel Hemming, Partner and Carolin Ayres, Associate

The Court of Appeal has upheld a High Court decision that conditional fee agreements (CFAs) do not imply a duty of good faith on the part of the client. A firm of solicitors acting under a CFA who had been instructed by their client to settle proceedings on a "drop hands" basis, with no order for costs, was not entitled to recover costs from their client on the basis that the client had breached a duty of good faith. The ruling cautions solicitors who enter into CFAs about the risks of clients agreeing a settlement that deprives them of their entitlement to conditional fees.

The Meaning of Zong (With Giles Terera)

Published on 17 Aug 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by actor, singer, musician, playwright, author, filmmaker and director, Giles Terera. They will be discussing the play he co-directed and and performed in, 'The meaning of Zong' which looks back at one one of the most infamous insurance stories, the Zong Massacre.

Subrogated recoveries

Published on 10 Aug 2022.

An accessible reference point to assist insurers in their immediate considerations relating to subrogated recoveries in 15 jurisdictions across Asia and in England and Wales

An insurance tour of London (With Paul Miller & Joe Powell)

Published on 02 Aug 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this special episode Peter is joined by 2 guests, Paul Miller of HFG Recruitment for his third appearance on the podcast and Joe Powell, Insurance Covered super fan and title insurance underwriter based in Alabama. In this episode they will be going on a walking insurance tour of London.

Municipio de Mariana-v-BHP – the evolution of environmental group litigation in the English courts

Published on 28 Jul 2022. By Marcela Calife Marotti, Senior Associate and Lucy Dyson , Partner

Earlier this month, the Court of Appeal handed down its much-awaited decision in Municipio de Mariana -v- BHP . This was an appeal by over 200,000 Brazilian claimants seeking to overturn the High Court's dismissal of £5bn group claims against BHP (England and Australia), in relation to damage arising from the 2015 Fundao dam collapse and worst environmental disaster in Brazil's history. The cases are now able to proceed in the English courts against BHP England and BHP Australia (causes of action under Brazilian law, including strict liability as an indirect polluter and fault based civil liability).

Product law bulletin – July 2022

Published on 26 Jul 2022. By Gavin Reese, Partner, Head of Regulatory and Mamata Dutta, Partner and Elinor Sidwell, Associate and Andrew Martin, Associate

Welcome to the latest edition of our product law bulletin, this month we focus on: • New guidance published for market safety and product recalls, • Plans from the government to ease UKCA marking transition • OPSS's final report on their Study on the Impact of Artificial Intelligence on Product Safety • Self-driving cars given the green light • Allergen update: Natasha Trial to treat people living with food allergies • FSA issue a final call for CBD products to be add to the public list

Is the FCA to blame for BSPS? MPs seem to think so

Published on 22 Jul 2022. By Rachael Healey, Partner

The House of Commons Public Accounts Committee (PAC) yesterday published a report entitled "Investigation into the British Steel Pension Scheme". The report makes a number of recommendations in light of its investigations in to the FCA's conduct and regulatory oversight at the time of the issues arising from the British Steel Pension Scheme (BSPS) and in particular the decision by 7,834 members to transfer to a personal pension arrangement. The report is heavily critical of the FCA's handling of BSPS and its regulatory oversight of the defined benefit transfer market generally. Given the request in the report for an update from the FCA on its progress on the various recommendations and conclusions in 6 months' time, we wait to see how the FCA reacts to yet further criticism of its handling of BSPS at a time when it is reviewing responses to the consumer redress scheme consultation.

The role of the modern MGA (with Richard Clapham)

Published on 12 Jul 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Richard Clapham, CEO of DUAL, and together they discuss the role of the modern MGA.

An update on the insurance museum (with Reg Brown)

Published on 23 Jun 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined for the third time by Reg Brown, who is giving an update on the insurance museum initiative.

Creating a new class of insurance (With Neta Rozy)

Published on 07 Jun 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Neta Rozy, CTO of Parametrix, and they will be discussing the creation of a new class of insurance.

The Fire Safety Act – An update

Published on 27 May 2022. By Georgina Haynes, Senior Associate and Katharine Cusack, Partner and Alexandra Anderson, Partner

Since the Fire Safety Bill received Royal Assent on 29 April 2021, it has been in limbo, waiting for its provisions to be brought into force. This has now happened, at least in part, with the publication of the Fire Safety (England) Regulations 2022 (the Regulations) made under article 24 of the Fire Safety Order (the FSO).

General Liability newsletter – May 2022

Published on 25 May 2022. By Gavin Reese, Partner, Head of Regulatory and Fiona Hahlo, Partner

Welcome to the latest edition of our general liability newsletter, rounding up some of the key cases from the last few months.

Catastrophe Risk Modelling (With Karen Clark)

Published on 24 May 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Karen Clark, Co-Founder of Karen Clark & Company and they will be discussing catastrophe risk modelling.

Mariana v BHP may expand scope of environmental group litigation

Published on 19 May 2022. By Lucy Dyson , Partner and Marcela Calife Marotti, Senior Associate

The much-anticipated Court of Appeal decision on a claim resulting from Brazil's worst environmental disaster could herald a new era for group litigation against multinationals in the English courts.

The Importance of Brand (with Ben Bolton)

Published on 11 May 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Ben Bolton for his second appearance on the podcast. In this episode we discuss the growing importance of brand in commercial insurance.

A look at lawyers PI insurance (With Martin Ellis)

Published on 26 Apr 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Martin Ellis, Executive Director at Howden and our topic of discussion is Lawyers professional indemnity insurance.

COVID-19 and the impact on UK corporate insolvencies

Published on 25 Apr 2022. By James Wickes, Partner and Paul Bagon, Partner

It has been just over two years since the World Health Organisation first declared Covid-19 a pandemic, and as the UK prepares to transition away from an era of pandemic restrictions and unprecedented government intervention, to a more ‘business-as-usual’ open economy, it seems timely to consider the possible legacies of this crisis on UK businesses.

A look at climate insurance (With Richard Matsui)

Published on 20 Apr 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Richard Matsui, Co-founder of kWh Analytics, and they will be discussing the insurance of renewable energy sources with a particular focus on solar power.

'Big Plastic' is an emerging climate risk and a ticking time-bomb for litigation

Published on 14 Apr 2022. By Lucy Dyson , Partner

The tangible commitment to plastics regulation and action will likely trigger a new wave of plastics-related litigation.

FCA consultation on British Steel redress scheme published

Published on 31 Mar 2022. By David Allinson, Partner and Robert Morris, Partner

The FCA has now published its consultation paper on the proposed redress scheme for British Steel Pension transfers under s.404 of FSMA. The scope of this is wider than anticipated and the proposals contain some surprises around the lack of an opt-in process and potential involvement of FOS.

50th episode special - A judges view of insurance (With Sir Bernard Rix)

Published on 29 Mar 2022.

Welcome to a special episode of Insurance Covered, celebrating our 50th episode. In this episode Peter interviews Sir Bernard Rix discussing his career as a barrister and a judge, focusing on the judgements he made that impacted the insurance industry.

Insurers need their own Hippocratic Oath

Published on 22 Mar 2022. By Simon Laird, Global Head of Insurance and Peter Mansfield, Partner

Does insurance have a role to play in setting the ethical standard for corporate ESG and promoting a ‘do no harm’ philosophy?"

The Bermuda insurance market (a podcast with Stephen Weinstein)

Published on 15 Mar 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Stephen Weinstein, Chair of the Bermuda Business Development Agency (BDA). The topic for discussion is the Bermuda Insurance Market and why it has become a global insurance hub.

Insurance & Reinsurance - ePD, EECC and GDPR: The EU Road to Privacy, Security and Data Protection

Published on 08 Mar 2022. By Richard Breavington, Partner and Elizabeth Zang, Associate

International Comparative Legal Guide – Insurance & Reinsurance 2022

Published on 07 Mar 2022.

Practical cross-border insights into insurance and reinsurance law

Why Gen Z should choose insurance (A podcast with Tom Beckett)

Published on 02 Mar 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Tom Beckett who a broker with CityNet Insurance Brokers and in this episode, we look at why Tom chose to start his career in insurance and why others should consider doing the same.

Singapore chapter: "Trends & Developments" in Chambers Insurance & Reinsurance Global Practice Guide 2022

Published on 24 Feb 2022. By Carmel Green, Partner

A look at the Association of British Insurers (a podcast with Seth Williams)

Published on 21 Feb 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Seth Williams of the Association of British Insurers (ABI) which is also their topic for discussion.

Is Cyber insurance in crisis? (a podcast with Tom Johansmeyer)

Published on 08 Feb 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by returning guest Tom Johansmeyer, Head of Property Claims services at Verisk. In this episode they discuss and try to answer the following question: 'Is cyber insurance in crisis?'.

SIPPs and FOS - does the Rowanmoor decision change anything?

Published on 02 Feb 2022. By Rachael Healey, Partner

Last week FOS published a decision it reached last year in a complaint against a SIPP provider involving advised sales. The FOS upheld the complaint, finding that the SIPP provider should have rejected business from the regulated financial adviser, CIB Life and Pensions Limited (CIB), given, broadly, red flags available to the SIPP provider with respect to the operation of CIB's business model including that CIB was not advising on the ultimate investment within the SIPP and as a result such introductions involved a significant risk of consumer detriment. The decision has received quite a bit of press attention - but has it moved the dial for SIPP complaints before FOS or not?

A look at sustainable insurance (a podcast with Julian Richardson)

Published on 20 Jan 2022.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Julian Richardson, CEO of Parhelion Underwriting and our topic for this episode is sustainable insurance.

Parametric innovation in travel insurance (a podcast with Carl Carter)

Published on 10 Jan 2022.

Welcome to Season 3 of Insurance Covered, the podcast that covers everything insurance. In our first episode of the year Peter is joined by Carl Carter, UK Country CEO at CPP Group UK and our topic for this episode is parametric insurance and its applications in travel insurance.

The Future of Insolvency Regulation

Published on 04 Jan 2022. By Rachael Healey, Partner

On 21 December 2021 the Government launched a consultation into the future of insolvency regulation. The changes proposed in the consultation document will have a wide ranging impact on the insolvency profession (and its insurers) with the proposals including: the direct regulation of insolvency firms, the introduction of a single regulatory body with powers to order compensation against insolvency practitioners and firms, a new additional requirements regime, changes to the bond regime and a public register of insolvency practitioners and firms. Many of the changes proposed require primary legislation and so it may be some time before the changes to take effect (if adopted). But there does appear to be some wind behind these proposals given they follow on from the Call for Evidence in 2019 and a more general focus on insolvency issues in the wake of the Covid-19 pandemic.

A look at Flood Re (a podcast with Andy Bord)

Published on 22 Dec 2021.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Andy Bord, CEO of Flood Re, a specialist UK reinsurer of flood risks. In this episode we will be discussing all things Flood Re.

Home Alone: the birth of a lawyer

Published on 21 Dec 2021. By Peter Mansfield, Partner

Partner Peter Mansfield reveals the shocking truth about the iconic Christmas movie Home Alone.

First English judgment on the ‘Duty of Fair Presentation’ under the Insurance Act 2015

Published on 17 Dec 2021. By Catherine Percy, Partner

Berkshire Assets (West London) Limited v AXA Insurance UK plc [2021] EWHC 2689 (Comm) High Court of Justice Queen’s BenchDivision Commercial Court This judgment of the High Court Queen’s Bench Division provides a welcome analysis of how the courts will approach a policyholder’s breach of the ‘Duty of Fair Presentation’ under the Insurance Act 2015 (the ‘Act’).

The Matrix and the Reality of Insurance

Published on 15 Dec 2021. By Peter Mansfield, Partner

1 hour, 31 minutes and 39 seconds into The Matrix, something remarkable happens. We glimpse a skyscraper, at the top of which is the single word, 'Norwich', and what looks suspiciously like the Norwich Union logo. 15 minutes and 9 seconds later, it's a different skyscraper, but this one has 'Aon'. This tells us everything we need to know about The Matrix. Literally everything.

The birth of modern life assurance (a podcast with Craig Turnbull)

Published on 09 Dec 2021.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Craig Turnbull, Senior Technical Specialist at the Bank of England, and our topic is the birth of modern life assurance.

When the bough breaks...

Published on 03 Dec 2021. By Andrew Roper, Partner and Ally Yeandle, Senior Associate

When the bough breaks: Force majeure or Third Party negligence? How to identify a recovery. When trees fail, they have the potential to cause significant damage and disruption to property and businesses.

Product law bulletin – December 2021

Published on 02 Dec 2021. By Gavin Reese, Partner, Head of Regulatory and Mamata Dutta, Partner and Elinor Sidwell, Associate

Welcome to the latest edition of our product law bulletin, this month we focus on compliance with Natasha's law, the extension of the UKCA mark deadline, the OPSS Awareness Scheme into the dangers of swallowing small high powered magnets and whether COVID-19 can cause new allergic reactions to products.