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A summary of key developments including an update on bereavement damages, consultation opened on dual discount rate, an overview of a new bill looking at the impact of a new parliamentary bill, the government response to the consultation on regulations requiring insurers to report on savings, an update on Scottish civil justice reforms and the Northern Irish discount rate.
The way in which people and goods travel is changing rapidly. As a new era of transport continues to unfold, Kennedys is here to keep you up to date on the latest developments and what they mean for you and your business.
As the political negotiations between the UK and EU unfold, Kennedys is here to keep you up to date on the latest Brexit developments and what they mean for you and your business.
Kennedys backs combination of criminal and regulatory regimes to help build confidence in driverless public transport
We have recommended that new criminal offences dealing with cyber-attacks on buses, taxis and other forms of public transport will be needed as the technology emerges, in our response to a Law Commission consultation. We have also said operators of driverless public transport should take personal responsibility for their safety as part of the protections needed to build consumer confidence in the concept.
Kennedys launches second Ideas Lab as its drive for technological and intellectual innovation continues
We are thrilled to have officially launched the second instalment of our Ideas Lab as part of our drive to be at the forefront of technological and intellectual innovation. The Ideas Lab, which launched in July 2017, is the brainchild of Partner, Richard West, Head of R&D, Karim Derrick and Innovation Manager, Tom Gummer.
With the pace of change in the global insurance market showing no signs of slowing in 2020, we have underlined the London Market’s need to reassert its ability to adapt and manage the constant evolution of global risk. Releasing our annual London Market forecast for the year ahead, we have made predictions across 11 areas impacting the London Market, namely: aviation, casualty coverage, construction, cyber, energy, financial lines, marine, product liability and life sciences, professions, political risks and property damage.
Ahead of the general election on Thursday, it is worth taking a step back to review the party manifestos and consider what could be in store for business.
The Prudential Regulation Authority (PRA) recently shared its insights from a review of firms’ reserving during 2019. This included work on casualty lines for London Market firms, reserving in the UK motor market and a thematic review of case (outstanding claims) reserves in the retail and wholesale markets. Their conclusions have also been informed by wider supervisory interactions with firms and other stakeholders, such as Chief Actuaries and Lloyd’s of London.
The collapse of Thomas Cook on 23 September 2019 has pushed multiple wheels into motion – from the repatriation of British holidaymakers, to the sale of the former travel firm’s retail estate under the steer of the Official Liquidator. It also includes the suggestion of a personal injury fund and reform of the self-insured model. We look at what we know and highlight a few aspects that the government (new or otherwise) should bear in mind.
The UK is the second least supportive nation in their attitude towards the development of unmanned vessels, according to our study across six territories (United Kingdom, United States, Australia, China, Singapore and Hong Kong), and the least supportive of autonomous vehicles more generally.