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In the introduction to the Financial Conduct Authority’s ‘Climate Change and Green Finance’ discussion paper (DP18/08), it states that ‘climate change is likely to have a significant impact on the UK’s economy and financial services markets’. This view is widely accepted and, as such, is – or certainly should be - a priority area for financial institutions.
Late last year, the Prudential Regulatory Authority released its consultation paper 23/18 entitled ‘Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change’, along with a draft supervisory statement on UK insurers’ (and banks’) approaches to managing the financial risks from climate change.
In a global insurance environment facing change at an unprecedented rate, the London Market’s experience and expertise remains reassuringly consistent. As 2019 promises to continue down this evolutionary path, we offer our predictions on some of the London Market’s priority areas.
With an important vote in the House of Commons now postponed, the current version of the Draft Withdrawal Agreement (the Draft Agreement) governing the UK’s departure from the EU may yet undergo changes in the coming days and weeks, or even find itself in the shredder.
Vine to wine, and the fire in between – the growing insurance implications of the California wildfires
2018 has been another year of devastating wildfires in California. The November 2018 Camp Fire was reported as the deadliest and most destructive in the state’s reported history, and the July 2018 Mendocino Complex fire was reported as the state’s largest.
Ingrid Hobbs, a partner in our London office, has been confirmed by The Forum of Insurance Lawyers (FOIL) as the Vice President of London FOIL. She will assume the role of President in October 2019.
You may be forgiven for thinking that wildfires are limited to hot, dry regions. However, as predicted in our Insights Report last year, they are becoming more prevalent than ever, with the UK recently experiencing unprecedented wildfire activity.
The 4th Edition of the Miami Latin American Claims (Re) Insurance Forum, hosted by QLDG and Kennedys CMK from June 11 to 14, 2018, brought together over 185 key international and Latin American insurance industry experts to discuss top claims issues, trends, and developments in Latin America & the Caribbean.
In this article, we consider the rise of drones in the insurance sector, the regulatory challenges and opportunities in the future.
We are thrilled to announce that we have published a significantly updated edition of our guide to claims handling, which helps empower insurers, third party administrators, corporates and their claims teams to become less reliant on their lawyers.