Driving Meaningful Change in Diversity and Inclusion in the Financial Sector

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

InsurTech – Ready to Deliver on its Hype?

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

International data transfers – Commission adopts UK adequacy decisions just in time

On 28 June 2021, the European Commission adopted two decisions confirming the UK as an adequate jurisdiction for GDPR and Law Enforcement Directive purposes.  As the interim data transfer window under the Brexit Trade Agreement expired on 30 June, this was just in time to allow the uninterrupted free flow of personal data from the European Union to … Read more

FCA final rules on general insurance pricing practices – “At a glance” guide

The FCA has implemented a package of remedies to address problems identified in its market study looking at pricing practices in home and motor insurance markets.  “Price walking”, a practice which means that existing customers can pay considerably more at renewal of their policies than new customers for the equivalent cover, will be prohibited. Read more

The PI insurance crisis in construction: not just a supply chain issue

In March 2021, the Construction Leadership Council published its findings of a recent pan-industry survey of over 1,000 firms, which confirmed a widespread problem experienced by many construction and architecture firms in obtaining professional indemnity insurance (“PII”) cover1. The survey found that companies were being prevented from taking on projects, and even having to change … Read more

Article published – Insurance and insolvency

The pandemic has plunged many previously healthy businesses into or close to insolvency, with serious implications for both the company itself and its commercial counterparties. Fiona Treanor, Antonia Pegden and Alexander Oddy have written an article for In-House Lawyer magazine which outlines some of the key insurance issues which should be considered by in-house lawyers … Read more

Court of Appeal rules on test for inducement pre-Insurance Act 2015

The Court of Appeal has dismissed the insurer’s appeal in Zurich Insurance Plc v Niramax Group Ltd [2021] EWCA Civ 590. Upholding the first instance decision of Cockerill J (discussed in our earlier blog post here), the Court of Appeal held that the insured’s non-disclosure of material facts had not induced the insurer to renew … Read more

Article published – Insurance items on the board’s agenda for 2021

The past 12 months have been unprecedented, with many organisations grappling with the pandemic and its impact to their business.  But it isn’t just Covid-19 that is on the agenda for many boards, there are a number of other emerging risks that should be top of mind, from an insurance perspective, including: the wider implications of … Read more