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In recent years, the amount of fiscal liability proceedings have increased substantially. Insurance companies have been called into those proceedings, this has resulted in many awards against insurers some of which have ignored the rules and principles of insurance contracts, and decisions by the Council of State and Supreme Court.
We are very pleased to announce that we have boosted our offering in Chile by welcoming Chilean law firm Peralta & Gutiérrez into our Santiago office. The move consolidates our leading advisory and litigation teams locally.
A few weeks ago, we wrote about the validity of the "claims made" policies in Peru, in connection to a non-binding opinion issued by the Peruvian Insurance Regulator (SBS). The SBS concluded in such opinion, that liability policies (even regarding financial lines) should be underwritten under occurrence basis according to the Peruvian Insurance Contract Law.
We are pleased to announce that financial lines specialists Maurice Pesso and Greg Steinberg have joined as partners in the US. The duo join from White and Williams LLP where they were partner and counsel respectively. Maurice Pesso will be based in our New Jersey office and Greg Steinberg in New York.
We are pleased to announce that international arbitration specialist Celine Abi Habib Kanakri has joined our Dubai office as a partner. Joining from Baker McKenzie Habib Al Mulla, Celine’s practice is focused on complex UAE and international arbitration across a range of industry sectors.
There has been a lot of talk, perhaps too much talk, following the recent non-binding opinion of the legal counsel of the local regulator SBS against the universally-accepted “claims made” system of insuring certain liability risks. The SBS opinion is unhelpful and misguided, but relatively inoffensive, and the markets can continue underwriting on this basis.
We are delighted to announce that Nick Thomas was awarded Management Partner of the Year at last night’s Legal Business Awards.
We are pleased to confirm that we have become the first international law firm to establish a presence in each of the Dominican Republic, Guatemala and Panama as we continue to increase our global footprint through three new Associations.
Is it chicken and egg when it comes to the growth of BIM and professional indemnity insurance in Latin America?
Providing for more certainty in respect of construction risks underwritten, BIM is a tool that should be welcomed by insurers, especially so in Latin America.