In Niramax Group Ltd v Zurich Insurance Plc [2020] EWHC 535 (Comm) the High Court held it was material to the assessment of a risk under an all risks contactors’ mobile plant policy (the “Policy”) that the insured had failed to disclose the fact that risk requirements concerning a separate buildings policy remained outstanding and that special terms had been imposed. Read more

The PRA and FCA have set out their expectations for UK-regulated firms under the Senior Managers and Certification Regime ("SMCR") in the light of the COVID-19 outbreak. A joint statement from the PRA and FCA applies to dual-regulated firms, while the FCA has published a separate statement for solo-regulated firms. Read more

We are pleased to invite you to our weekly webinar series discussing the business challenges presented by the COVID-19 outbreak. The third webinar, entitled, ‘People: the challenges being faced’, will be broadcast on 7 April 2020 and will focus on a number of the key issues currently being faced by UK employers, as well as the government support that may be available. The webinar will be chaired by James Palmer, Chair and Senior Partner of Herbert Smith Freehills, who will be joined by expert colleagues who will share their experience and views on these issues.   Read more

The UK Government has published guidance requesting that schools and other educational institutions provide limited care for children whose parents have roles that are critical to the COVID-19 response. This includes parents working in certain financial services roles, including in the insurance sector, that are essential to the functioning of the economy (referred to as … Read more

The updated Insurance section of our Brexit Legal Guide is now available. This provides a useful overview, amongst other things, of whether the end of the transition period: requires incoming EEA (re)insurers and (re)insurance intermediaries to apply for, and obtain, full authorisation for their UK operations; will impact UK firms wishing to conduct activities in other jurisdictions without … Read more

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

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

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