The increasing threat that new market entrants might use technology to win a share of the insurance market has been forcing established insurers to assess the ways in which they might maintain their competitive advantage. These assessments can be difficult and have far-reaching consequences, with some insurers selling businesses to allow their systems to be … Read more
The UK’s data protection authority, the ICO, has announced twice in two days this week that it proposes to levy significant fines on organisations for breaches of the General Data Protection Regulation (GDPR), which took effect in May 2018. First it announced that it intends to fine British Airways some £183 million for a data … Read more
In Sartex Quilts & Textiles Limited v Endurance Corporate Capital Limited [2019] EWHC 1103 (Comm), David Railton QC sitting as a Deputy High Court Judge in the Commercial Court decided that the reinstatement basis was the appropriate measure of indemnity for a property severely damaged by fire which had not been reinstated. The Judge found … Read more
Last Friday, the Hong Kong Insurance Authority published its Guideline on Cybersecurity (GL 20) for authorised insurers. GL 20 will take effect on 1 January 2020. Cybersecurity is a global regulatory focus and a top priority area for the Insurance Authority, given the growing exposure to cyber risk as a result of increased digital connectivity. … Read more
New technologies, such as artificial intelligence (“AI”) and distributed ledger technology (“DLT”), continue to have a significant impact on the way in which firms, customers and regulators interact. Firms introducing innovative business models whose products or services fall under the jurisdiction of different sectoral regulators can find themselves having to address competing regulatory expectations. As … Read more
Young v Royal and Sun Alliance plc [2019] CSOH 32 is the first case to be decided under the Insurance Act 2015. It was alleged that the insured had breached its duty of fair presentation and the issue for the Scottish Court was whether the insurer had waived its right to disclosure of particular information … Read more
The Court of Appeal recently allowed RSA’s appeal in Euro Pools Plc (in administration) v Royal & Sun Alliance Insurance Plc [2019] EWCA Civ 808 (click here for the full judgment). Overturning the first instance decision, the Court of Appeal’s decision provides further valuable guidance on the key principles relevant to the question of whether … Read more
The peculiar features of mesothelioma have led the English courts and Parliament to create special rules of causation enabling employees to claim in full against a single employer who had exposed them to asbestos. In a series of cases, the English courts have had to grapple with the consequences of that special regime for employers’ … Read more
