Judgment was handed down by Zacaroli J today in McClean & Others v Thornhill [2022] EWHC 457 (Ch). The decision will be of interest to professional liability insurers, legal practitioners, and litigation funders, particularly those involved in tax-related professional negligence claims. Read more

We are pleased to share with you our Insurance and Reinsurance Disputes Annual Review of 2021 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. Read more

After a year of upheaval for the UK insurance sector in 2021, there seems little prospect of 2022 being any quieter. From a regulatory perspective, 2021 began with the end of the Brexit transition period.  And while firms operating in UK insurance markets have been insulated from the full impact of Brexit during 2021, this … Read more

The Court of Appeal has handed down its decision in ABN Amro Bank N.V. v Royal & Sun Alliance Insurance plc and others [2021] EWCA Civ 1789.  At first instance, the court had found that an “unusual” and “unprecedented” clause provided credit risk cover in an all risks marine cargo policy. Most of the decision … Read more

The FCA is concerned about the harm that may be caused to consumers and markets by the use of the appointed representatives (AR) regime. This is a model used by around 3,600 principals and 40,000 ARs across a wide range of financial services markets. To address some of its concerns, the FCA is consulting on … Read more

The FCA has published Consultation Paper 21/36 (CP 21/36) which includes proposed new rules and guidance setting out a Consumer Duty which it considers will “fundamentally shift the mindset of firms” and establish an appropriate level of care to consumers. The consultation is open until 15 February 2022 and the FCA expects to confirm any final rules by the … Read more

Diversity and inclusion (D&I) has featured heavily in speeches by our UK regulators in recent months. The FCA, PRA and Bank of England (the regulators) have now published a discussion paper (DP21/2) which aims to kick-start discussion on how the financial services sector, with the help of the regulators, can “accelerate the pace of meaningful change” … Read more

With three UK based InsurTech companies earning “unicorn” status in 2021, the UK InsurTech market has the potential to be one of the most dynamic in the world. However, investment and impactful innovations in the insurance sector have so far been primarily focussed on small business and personal lines, as well as improving the efficiency … Read more