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

Insurance issues in class actions – new webinar and “handy client guide”

Herbert Smith Freehills has today released a webinar looking at insurance issues in class actions. In the presentation Sarah McNally and Greig Anderson discuss how to maximise insurance recoveries when class action risk arises. Clients and contacts of the firm can register to access the archived version by contacting Webinars. The webinar is the fourth in our series of webinars … Read more

New regulatory regime for insurance intermediaries in Hong Kong takes effect

The new statutory regime for the regulation of insurance intermediaries in Hong Kong takes effect today. This represents the final stage of implementation of the reforms which established the Insurance Authority (IA) as Hong Kong’s independent insurance regulator. The IA assumed the regulatory responsibilities of the Office of the Commissioner of Insurance in June 2017 and has taken over the regulation of insurance intermediaries (agents and brokers) from  three self-regulatory organisations (SROs) from today. Requirements relating to the intermediary management function, one of the control functions of an authorised insurer, have also come into effect. The IA will be responsible for all aspects of regulation of insurance intermediaries, including issuing rules, codes and guidelines, approving licences, monitoring compliance, conducting inspections and investigations, and imposing disciplinary sanctions where breaches have occurred. Read more

Updated Brexit Legal Guide launched

The outcome of the June 2016 UK referendum on EU membership ushered in a period of increasing political turmoil in the UK. When I wrote an introduction to the first edition of this legal guide my colleagues and I had a clear view that leaving the EU would take far longer and be far more complex than most other commentators were saying, but I did not anticipate then that over three years later we would have so little clarity on the UK and EU’s long term relationship with each other.  Nor that polarisation of views on all sides would have increased still further, leading to political deadlock. This updated Brexit Legal Guide addresses the legal position if the UK leaves the EU with or without a deal and picks out the key pieces of legislation that will soon be in force if the UK leaves the EU without a deal.  I hope you will find it useful. Read more