POLICYHOLDER INSURANCE HIGHLIGHTS 2019

Read our assessment of the key lessons for insurance policyholders based on last year’s top cases and market developments. This unique publication focuses on business implications and learnings for insurance policyholders, including: The insurance market continues to harden: as renewal negotiations with insurers get more difficult, seek to maintain broad coverage in your existing policy … Read more

INSURANCE AND REINSURANCE DISPUTES ANNUAL REVIEW OF 2019 PUBLISHED

We are pleased to share with you our Insurance and Reinsurance Disputes Annual Review of 2019, published today, which provides an overview and analysis of the key cases and developments affecting those engaged in or with contentious matters in the insurance and reinsurance market. Please click here or on the picture below to access the … Read more

FCA warns CEOs to tackle non-financial misconduct

The FCA has warned CEOs that how a firm handles non-financial misconduct is indicative of a firm's culture. It is the FCA's view that embedding healthy cultures includes, therefore, taking steps to address the discrimination, harassment and bullying that remains "prevalent" in firms. In a 'Dear CEO' letter (the Letter), which follows recent incidents in the wholesale general insurance sector, the FCA considers the need for fundamental change in firms' culture and calls on leaders to bring about that change. Read more

High Court grants anti-suit injunction, having found that the parties to an insurance policy had agreed to arbitration despite a Service of Suit clause

In Hiscox Dedicated Corporate Member v Weyerhaeuser Co [2019] EWHC 2671 (Comm), the High Court (the English Court) continued an anti-suit injunction against the defendant (Weyerhaeuser), having been satisfied to a high degree of probability that the parties had agreed to submit their dispute to London arbitration. The central question was one of contractual interpretation: … Read more

FCA publishes finalised guidance on GI distribution chain

Further to its thematic review on the general insurance distribution chain (TR19/2), the FCA has published its final guidance on the general insurance distribution chain. The guidance builds on existing rules applicable to both manufacturers and distributors of both general insurance and pure protection products, and clarifies the FCA's expectations in respect of product development, distribution and review. Read more

France sets out approach to post-Brexit servicing of policies held by UK expats

In February 2019, EIOPA published a series of recommendations (the “Recommendations“) for the insurance sector relating to the UK’s withdrawal from the EU (see our earlier blog post here). The French regulator, the Autorité de contrôle prudentiel et de resolution (“ACPR“), has indicated that it does not intend to comply with Recommendation 6, relating to … Read more

First English Law Decision on WELCAR Offshore Construction Form

In what is understood to be the first English law decision on a policy underwritten on the WELCAR form, Mrs Justice Carr in the Commercial Court in Munich Re Capital Limited v Ascot Corporate Name Limited [2019] EWHC 2768 (Comm) held that there was no maintenance cover under a facultative excess of loss reinsurance contract … Read more