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Lawyers Covered - April 2021

Published on 25 Apr 2021.

Welcome to the latest edition of our Lawyers Liability & Regulatory Update, in which we look back over the last month at key developments affecting lawyers and the professional risks they face.

It's Cocoa, Jim, but not as we know it: Court's modern interpretation of underwriters' and brokers' duties #3 - A broker's harsh reality

Published on 19 Apr 2021. By Tim Bull, Partner and Matthew Wood, Of Counsel

This is the third article in our series following the decision in ABN Amro Bank N.V. v Royal & Sun Alliance Insurance plc and 13 Underwriters and Edge Brokers (London) Limited, in which RPC acted for Edge. Please click here for our first article, setting out a more detailed background to the case.

It's Cocoa, Jim, but not as we know it: Court's modern interpretation of underwriters' and brokers' duties #2 – The underwriters defence

Published on 09 Apr 2021. By Tim Bull, Partner and Matthew Wood, Of Counsel

A modern show of the historic defence strategy at its worst, or should that be best? We'll let you decide.

Company Top Guns may face HMRC investigation

Published on 01 Apr 2021. By James Wickes, Partner

HMRC clamping down on furlough fraud by companies in Danger Zone

Law Society undertakes largest ever law firm intervention in Hong Kong

Published on 31 Mar 2021. By Carmel Green, Partner

It's Cocoa, Jim, but not as we know it: Court's modern interpretation of underwriters' and brokers' duties #1 - An overview of the case

Published on 30 Mar 2021. By Tim Bull, Partner and Matthew Wood, Of Counsel

In this series of articles we take a look at the decision in ABN Amro Bank N.V. v Royal & Sun Alliance plc and 13 Underwriters and Edge Brokers (London) Limited. In this article we give an overview of the case. The remaining articles will focus on particular areas of the case, these will be: 1. Underwriters' duties 2. Brokers' duties 3.Witness evidence

Stamp Duty Holiday. Not a "holiday" for conveyancers.

Published on 24 Mar 2021.

In an attempt to prevent the housing market from stalling during the COVID 19 pandemic, a stamp duty holiday was announced for all residential purchases under £500,000 between 8 July 2020 and 31 March 2021.

Lawyers Covered - March 2021

Published on 24 Mar 2021.

Welcome to the latest edition of our Lawyers Liability & Regulatory Update, in which we look back over the last month at key developments affecting lawyers and the professional risks they face.

BEIS issues White Paper: D&O perspective

Published on 19 Mar 2021.

The Department for Business Energy and Industrial Strategy (BEIS) has today released its White Paper, setting out its proposals for audit reforms and corporate governance, entitled "Restoring trust in audit and corporate governance".

SPACs Invaders – Implications for D&O insurers

Published on 12 Mar 2021.

The EU's former Financial Services Commissioner, Lord Hill, has delivered the anticipated UK Listing Review which contains recommendations for reform of the UK's current listing regime. This included changes to listing rules with a focus, amongst other things, on special purpose acquisition vehicles (SPACs). SPACs are more flexible than formal IPOs and are used to raise capital in order to merge with/acquire another company. In the US, commentators predict an increase in securities claims involving SPACs, so this development is potentially relevant to London market D&O insurers.

800 DB Transfer complaints to the FOS: A 44% increase in one year

Published on 01 Mar 2021.

The FOS have seen the number of complaints relating to defined benefit transfer advice increase by 44% since 2019. However, the proportion of decisions being upheld appears to have fallen.

GameStop – a game of chicken?

Published on 04 Feb 2021. By Sally Lord, Knowledge Counsel – Insurance and Litigation

The race to purchase shares in ailing American video game retailer, GameStop, has taken the investment world by storm over the last week, with amateur traders waging war on professional hedge funds.

SMCR: an effective deterrent?

Published on 05 Nov 2020. By Shauna Giddens, Senior Associate

The Senior Managers & Certification Scheme (SMCR) was introduced in early 2016 to establish "effective governance in firms by encouraging greater individual accountability". However, following a response to a recent Freedom of Information (FOI) request, questions have been raised as to its effectiveness as a deterrent.

Part 36: avoid a storm, use the form!

Published on 23 Sep 2020. By Harriet Keltie, Senior Associate and Will Sefton, Partner, Head of the Lawyers Liability and Regulatory Group

Pepperall J's impressively clear judgment in Essex County Council v UBB Waste (2020) makes it abundantly clear that, when it comes to Part 36 Offers, the rules are strict. If litigants wish to reap the significant rewards of this regime, the price they must pay is to ensure they (or their solicitors) follow the rules on how offers should be made.

A Warning to Architects to be Smart about their Social Media

Published on 11 Sep 2020. By Emma Wherry, Of Counsel and Laura Sponti, Associate

The Architects Registration Board has recently erased Peter Kellow from the register of architects as a result of a racist post on his Facebook which was publicly visible.

Invest in due diligence for dubious schemes

Published on 26 Aug 2020.

The SRA provides updated guidance for firms to avoid becoming involved in dubious investment schemes.

Reflective loss in claims against solicitors and accountants after Marex

Published on 14 Aug 2020. By Nick Bird, Partner and Laura Stocks, Partner

The so called "rule against reflective loss" has been clarified in an important decision handed down by the Supreme Court in Marex Financial Ltd v Sevilleja [2020] UKSC 31.

Where there's a will there's a remote possibility of a way

Published on 03 Aug 2020. By Simon Love, Senior Associate and Will Sefton, Partner, Head of the Lawyers Liability and Regulatory Group

In the face of the global COVID-19 pandemic the government has acted to change the law to allow wills to be witnessed remotely.

Is more co-operation the new normal?

Published on 07 Jul 2020. By Jonathan Wyles, Of Counsel

What keeps you as a lawyer awake at night during the coronavirus pandemic? The list is likely to be very long and the fear of making a mistake will be close to the top. Help may come from some unexpected quarters such as the Courts.

Relief from sanction: claimant being forced to pursue his solicitors for negligence is not desirable

Published on 23 Jun 2020. By Aimee Talbot, Knowledge Lawyer and Will Sefton, Partner, Head of the Lawyers Liability and Regulatory Group

A recent High Court decision demonstrates a common-sense, realistic approach to relief from sanctions. Solicitors might have become used to judges, when striking claims out, reassuring the claimant that they can always sue their solicitors for negligence. In a welcome judgment, Mr Justice Fancourt reversed a decision to refuse relief from sanction.

The Solicitors Disciplinary Tribunal: new rules, new game?

Published on 05 May 2020. By Graham Reid, Partner

There are few things that strike fear into the heart of a solicitor more than the prospect of being sent to the Solicitors Disciplinary Tribunal. This article looks at its new rules of procedure.

COVID-19: The suspension of wrongful trading provisions and a moratorium for businesses in restructuring: what is the likely impact on Insurers?

Published on 27 Apr 2020.

On 28 March 2020 the Business Secretary announced further new far-reaching measures to help businesses combat the financial impact of COVID-19.

Judicial guidance on listing of hearings remotely

Published on 22 Apr 2020. By Rhian Howell, Partner & Head of Bristol Office and Aimee Talbot, Knowledge Lawyer

Senior judges have issued guidance to the judiciary on listing hearings in light of the current coronavirus situation. This gives litigants some clues as to how the court will approach upcoming hearings.

Disciplinary investigations against architects #4 - investigations panel stage

Published on 14 Apr 2020. By Sarah O'Callaghan, Senior Associate

Further to our previous three articles which provided (1) an overview of the Architect Registration Board's disciplinary process and (2) a review of the complaints stage (3) the review stage, this article explains the next stage of a disciplinary investigation against an Architect: the investigations panel stage.

Disciplinary investigations against architects #4 - investigations panel stage

Published on 14 Apr 2020. By Sarah O'Callaghan, Senior Associate

Further to our previous three articles which provided (1) an overview of the Architect Registration Board's disciplinary process and (2) a review of the complaints stage (3) the review stage, this article explains the next stage of a disciplinary investigation against an Architect: the investigations panel stage.

Insurance broker E&O exposures: COVID-19

Published on 26 Mar 2020.

As insurers brace themselves for large volumes of notifications across all lines of business relating to Coronavirus disease 2019 (COVID-19) we expect to see a second wave of E&O notifications by insurance brokers when policyholders (businesses and individuals) find themselves without adequate cover for losses relating to the pandemic. Some insurers are already seeing a spike in such notifications.

Lost chances à la Moda

Published on 04 Jun 2019. By Graham Reid, Partner and Nick Bird, Partner

Lost chance case-law has come a long way since the ground-breaking decision in Allied Maples. One of its more interesting offshoots is the case of Moda International Brands Ltd v Gateley LLP & Anor. Moda is required reading for any firm of solicitors who wants to defend a lost chance claim arising from its transactional work for a claimant.

A level playing Field?

Published on 31 Aug 2017. By David Allinson, Partner

Frank Field's Work and Pensions Select Committee is intending to review the impartiality of defined benefit pension transfer advice. What could this mean for the advisory industry and its PI insurers?

FCA approves 'independent' use of internal specialist advisers

Published on 17 Oct 2014. By Sarah Dowding, Senior Associate

Ever since RDR 'independence' rules were introduced nearly two years ago, financial advisers have sought clarification on referring clients to internal specialists within their firm for expert advice.

General Liability newsletter – July 2025

Published on 24 Jul 2025. By Gavin Reese, Partner, Head of Regulatory and Fiona Hahlo, Partner and Beth Lewis, Associate and Emily Twomey, Trainee Solicitor and Sally Lord, Knowledge Counsel – Insurance and Litigation

Welcome to the latest edition of our general liability newsletter. In this edition we look at the Personal Injury Discount rate, the Terrorism (Protection of Premises) Bill and the recent case of Williams-Henry v Associated British Ports you have any questions please get in contact with a member of the team.

Non-bank firms, their directors and insurers: mind the (non-financial misconduct) gap!

Published on 17 Jul 2025. By Mike Newham, Partner and Lauren Paterson, Associate and Catherine Zakarias-Welch, Knowledge Lawyer

Earlier this month the FCA published its final policy statement and consultation paper CP25/18 introducing a new rule, COCON 1.1.7R, extending existing rules on non-financial misconduct (NFM) from banks (only) to non-banking firms. The FCA has also made clear that firms will be required to report serious substantiated NFM to the FCA and include the same in regulatory references to prevent "rolling bad apples" within the industry.

Insurance Covered: Why does everyone ignore insurance? (Even though it's the answer for everything) (With Lorcan Hall)

Published on 15 Jul 2025.

Welcome to Insurance Covered, the podcast that covers everything insurance.

AI-dentifying risks: ensuring trust: the new RICS standard

Published on 09 Jul 2025. By Katharine Cusack, Partner and Catherine Zakarias-Welch, Knowledge Lawyer and Emma Wherry, Of Counsel

On 4 March 2025, the RICS ran a public consultation on its new professional standard, "Responsible use of AI 1st Edition" which ran until 29 April 2025. Members were asked to participate in order to help frame the way in which the RICS incorporates the use of AI in the industry.

Supreme Court resolves key construction and professional negligence issues in URS Corp Ltd v BDW Trading Ltd

Published on 09 Jul 2025. By Aimee Talbot, Knowledge Lawyer and Ben Goodier, Partner and Alexandra Anderson, Partner

The Supreme Court handed down its keenly awaited judgment in URS Corp Ltd v BDW Trading Ltd [2025] UKSC 21 on 21 May 2025. The dispute concerns whether a developer (BDW Trading Ltd) can recover the cost of remedying allegedly dangerous defects in two residential developments from the structural engineers (URS Corporation Ltd) responsible for their design. Our specialist construction insurance team consider the key points for insurers, brokers and professional consultants.

ML Covered - July 2025

Published on 07 Jul 2025. By Rachael Healey, Partner and Matthew Watson, Partner and Kim Wright, Senior Associate and Zoe Melegari, Senior Associate and Andrew Oberholzer, Senior Associate and Charlotte Bray, Associate

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.

Beyond the 'threshold'? A narrowing view of work equipment

Published on 27 Jun 2025. By Thom Lumley, Partner and Catherine Zakarias-Welch, Knowledge Lawyer

We take a look at the case of George Morriss v London Borough of Hillingdon [2025] EWHC - In another significant ruling on liability for injuries sustained on public highways, the court reinforces the considerable evidentiary responsibility resting with claimants.

Insurance Bulletin - Hong Kong Summer 2025

Published on 24 Jun 2025. By Andrew Carpenter, Partner and Beverly Yee, Senior Associate and Heidi Ng, Associate

A look at insuring today's diversity (With Heidi McCormack)

Published on 17 Jun 2025.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode, Peter Mansfield is joined by Heidi McCormack, CEO at Emerald Life, to discuss the importance of diversity and inclusion in the insurance industry.

ML Covered - June 2025

Published on 06 Jun 2025. By Matthew Watson, Partner and Rachael Healey, Partner and Kim Wright, Senior Associate and Zoe Melegari, Senior Associate and Andrew Oberholzer, Senior Associate and Charlotte Bray, Associate

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.

Surveying the risks: RICS proposed updates tackling financial crime

Published on 02 Jun 2025. By Ben Goodier, Partner and Emma Wherry, Of Counsel and Catherine Zakarias-Welch, Knowledge Lawyer

Financial crime is on the rise. In response to the new technologies criminals are using, such as AI and cryptocurrency, RICS launched a consultation calling on members, regulated firms and key stakeholders to respond to its consultation on proposed changes to "The Financial Crime Standard" (The RICS Countering Financial Crime: Bribery, Corruption, Money Laundering, Terrorist Financing, and Sanctions Violation Professional Standard).

Warranty and Indemnity Insurance Q&A – Current Trends and What to Look Out For

Published on 29 May 2025. By Andrew Carpenter, Partner and Heidi Ng, Associate

The Asia Warranty and Indemnity (W&I) insurance market is expanding rapidly to meet demand as businesses and market participants become increasingly aware of the benefits that transactional insurance can offer. The dynamics in this space are everchanging – the incorporation of W&I in deals, insurers' expectations on the level of due diligence, terms of policies and level of coverage provided are all adapting to demand. This article highlights some recent trends we have encountered and factors to look out for in order to seize opportunities in current market conditions.

Lliuya v RWE AG - Expanding climate impact litigation

Published on 29 May 2025. By Lucy Dyson , Partner and Marcela Calife Marotti, Senior Associate

The German court has today (28 May 2025) dismissed the long-running climate impact litigation case of Lliuya v RWE , heard before the Higher Regional Court of Hamm, Germany, between 17 and 19 March 2025.

A look at Takaful insurance (With Wajahat Khawaja)

Published on 20 May 2025.

Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Wajahat Khawaja and the topic of discussion is Takaful, an Islamic form of insurance.

Council liability in cases of personal injury suffered on public highways

Published on 14 May 2025. By Thom Lumley, Partner and Catherine Zakarias-Welch, Knowledge Lawyer

We take a look at the case of George Morriss v London Borough of Hillingdon [2025] EWHC - In another significant ruling on liability for injuries sustained on public highways, the court reinforces the considerable evidentiary responsibility resting with claimants.

ML Covered - May 2025

Published on 02 May 2025. By Matthew Watson, Partner and Rachael Healey, Partner and Kim Wright, Senior Associate and Zoe Melegari, Senior Associate and Andrew Oberholzer, Senior Associate and Charlotte Bray, Associate

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.

Insurance Covered: A look at D&O insurance (With Natalie Graham)

Published on 16 Apr 2025.

Welcome to Insurance Covered, the podcast that covers everything insurance.

ML Covered - April 2025

Published on 04 Apr 2025. By Matthew Watson, Partner and Rachael Healey, Partner and Kim Wright, Senior Associate and Zoe Melegari, Senior Associate and Andrew Oberholzer, Senior Associate and Charlotte Bray, Associate

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.

Insurance Covered: Navigating the world of insurance finance (With Stephen Brookson)

Published on 31 Mar 2025.

Welcome to Insurance Covered, the podcast that covers everything insurance.