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Case review 13/02/2019
Supreme Court in “claimants must be honest” shocker! Good news for the solicitors’ professional indemnity market
Here is some good news for the solicitors’ professional indemnity market on issues of causation, which had been stretched via the lower court decision in this case.
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.
Following a major development boom in Australia, recent events have highlighted significant issues in the building and construction industry.
We have bolstered our Southeast Asia operation with the hire of partner Akramjeet Khaira and his team in Singapore and the promotion of Ian Johnston to partner in Bangkok.
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.
Case review 14/01/2019
Judgment applies reciprocity test, holding liability insurer liable to pay claimants’ costs under s.51 Senior Courts Act
In the first significant decision concerning s.51 Senior Courts Act 1981 since the Court of Appeal handed down judgment in May 2018 in Travelers Insurance Company Limited v XYZ, Mr Justice Foskett has applied the “principle of reciprocity” established in XYZ in directing that a liability insurer should pay Claimants’ costs as a third party funder.
The government has recently sought views on their leasehold reform proposals, to which Kennedys have provided a response.
In this report, we take a look at the current professional indemnity and financial lines trends and what we expect to see more of over the coming year.
In this edition, we consider some recent court decision addressing issues including: entitlement to adjudicate; the scope of retainer letters; vicarious liability for data breaches; brokers’ negligence; duty of care for construction professionals; and solicitors’ negligence when fraud is present.