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Annual Insurance Review 2023
Hello and welcome to RPC's Annual Insurance Review – a look back at the events that shaped the insurance market in 2022 and a look forward towards what to expect in 2023.
Read moreIt's a Wonderful Life, Insurance
A swollen river rages through the town of Bedford Falls. It is Christmas Eve and, looking down upon the torrent, shivering on a bridge, is a woman, distraught and wounded by life's cruelties. She prepares to step over the railing. Her name is Insurance.
Read moreA-Z of Insurance
Insurance plays a role in almost every aspect of life. For most, it is simply a policy that protects their car and home, but there is so much more to it than that. Peter Mansfield takes us on a whistlestop tour through insurance history as he gives us his A-Z of insurance.
Read moreCarnegie-Brown: Sector not yet fully utilising green investment potential
Lloyd’s chairman Bruce Carnegie-Brown has said the (re)insurance sector could better utilise its role as an institutional investor to support green growth in the global economy but said regulatory changes will be needed if it is to use its assets to their full potential.
Read moreCanada’s Harper: Net-zero by 2050 virtually “unachievable” at current pace of change
Too heavy a focus on national net-zero strategies and a lack of transparency around how global environmental goals are to be achieved could lead to a spike in emissions, Canada’s former prime minister Stephen Harper has warned, adding that existing targets are “unachievable” in their current form.
Read moreCarnegie-Brown offers olive branch to eco-activists
Lloyd’s chairman Bruce Carnegie-Brown has offered an olive branch to the environmental activists who disrupted the near-350-year-old market this year, declaring that he shares their aim of managing the risks from global warming and admires their determination to drive change.
Read moreInsurers must “speak truth to power” on climate change: Canada’s former PM Harper
Canada’s former prime minister has said the global (re)insurance industry has a critical role in speaking “truth to power” when it comes to tackling the impact of climate change because of its investment in data, models and analytics to understand cat risk.
Read moreSubrogated recoveries
An accessible reference point to assist insurers in their immediate considerations relating to subrogated recoveries in 15 jurisdictions across Asia and in England and Wales
Read moreProduct law bulletin – July 2022
Welcome to the latest edition of our product law bulletin, this month we focus on: • New guidance published for market safety and product recalls, • Plans from the government to ease UKCA marking transition • OPSS's final report on their Study on the Impact of Artificial Intelligence on Product Safety • Self-driving cars given the green light • Allergen update: Natasha Trial to treat people living with food allergies • FSA issue a final call for CBD products to be add to the public list
Read moreGeneral Liability newsletter – May 2022
Welcome to the latest edition of our general liability newsletter, rounding up some of the key cases from the last few months.
Read moreMariana v BHP may expand scope of environmental group litigation
The much-anticipated Court of Appeal decision on a claim resulting from Brazil's worst environmental disaster could herald a new era for group litigation against multinationals in the English courts.
Read moreCOVID-19 and the impact on UK corporate insolvencies
It has been just over two years since the World Health Organisation first declared Covid-19 a pandemic, and as the UK prepares to transition away from an era of pandemic restrictions and unprecedented government intervention, to a more ‘business-as-usual’ open economy, it seems timely to consider the possible legacies of this crisis on UK businesses.
Read moreInsurers need their own Hippocratic Oath
Does insurance have a role to play in setting the ethical standard for corporate ESG and promoting a ‘do no harm’ philosophy?"
Read moreInsurance & Reinsurance - ePD, EECC and GDPR: The EU Road to Privacy, Security and Data Protection
Read moreInternational Comparative Legal Guide – Insurance & Reinsurance 2022
Practical cross-border insights into insurance and reinsurance law
Read moreSingapore chapter: "Trends & Developments" in Chambers Insurance & Reinsurance Global Practice Guide 2022
Read moreHome Alone: the birth of a lawyer
Partner Peter Mansfield reveals the shocking truth about the iconic Christmas movie Home Alone.
Read moreThe Matrix and the Reality of Insurance
1 hour, 31 minutes and 39 seconds into The Matrix, something remarkable happens. We glimpse a skyscraper, at the top of which is the single word, 'Norwich', and what looks suspiciously like the Norwich Union logo. 15 minutes and 9 seconds later, it's a different skyscraper, but this one has 'Aon'. This tells us everything we need to know about The Matrix. Literally everything.
Read moreWhen the bough breaks...
When the bough breaks: Force majeure or Third Party negligence? How to identify a recovery. When trees fail, they have the potential to cause significant damage and disruption to property and businesses.
Read moreProduct law bulletin – December 2021
Welcome to the latest edition of our product law bulletin, this month we focus on compliance with Natasha's law, the extension of the UKCA mark deadline, the OPSS Awareness Scheme into the dangers of swallowing small high powered magnets and whether COVID-19 can cause new allergic reactions to products.
Read moreAre procedural and administrative errors driving claims?
The PI insurance market has continued to harden in 2021, with most firms seeing premium increases in their 2021 renewals. As we come out of a highly disruptive period off the back of the pandemic and adjust to a new way of working, the solicitors PI market is likely to continue to see claims arising in areas such as cyber-related incidents, residential conveyancing, commercial property, wills and probate, and lost litigation. In this article we look at a common thread in many of these types of claim: procedural and administrative errors.
Read moreSubsidence recovery: the burden of proof - Maximising the prospects of recovery from the outset
Tree root induced subsidence is caused by extraction of moisture from subsoil by the roots of trees. The extraction of moisture causes the volume of the soil to shrink, undermining properties’ foundations and is by far the most common cause of subsidence damage to properties in the United Kingdom.
Read moreCurrent developments/trends in shareholder/ D&O claims in Europe
Every country across the world is increasingly taking on more debt and this has only been intensified by the pandemic, resulting in an upsurge in claims. People and companies will seek to recover funds wherever they can.
Read moreProduct liability bulletin - April 2021
Welcome to the latest edition of our product liability bulletin, looking at key news articles and cases affecting the industry. In this edition we look at: OPSS guidance following Brexit, Group Action against Vauxhall, new button battery safety campaign & much more.
Read moreCertainly Uncertain – The Material Uncertainty Clause
The circumstances related to the global COVID-19 pandemic have raised questions as to whether surveyors should include a declaration that the valuation is subject to material valuation uncertainty, highlighting that a greater degree of caution should be used when relying on it.
Read moreTime to hit the reset button
The insurance industry is uniquely placed to confront issues, such as climate change, rather than simply picking up the pieces from disaster.
Read moreHalliburton v Chubb
Repeat arbitrator appointments in the context of trade credit and political risk insurance arbitration
Read moreGeneral Liability newsletter – November 2020
Welcome to the latest edition of our general liability newsletter, rounding up some of the key cases from the last few months.
Read moreGeneral Liability newsletter – July 2020
Welcome to the latest edition of our general liability newsletter, rounding up some the key cases from the last few months. This month we look at recent cases and government updates regarding: Ogden tables, fraudulent or exaggerated claims, consent orders, pre action disclosure applications and the vital importance of causation as an ingredient of negligence in addition to breach of duty.
Read moreBusiness interruption update
In the wake of the government lockdowns across the globe and as restrictions begin to be eased in some countries, RPC has accessed a number of pre-eminent insurance practices in the major claims centres to swap notes on some of the key legislative developments to date in their respective jurisdictions and any recent cases of interest.
Read moreInternational risk team: The future at Lloyd’s
At the end of last year Lloyd’s published its Blueprint One, another instalment in the Future at Lloyd’s initiative. Blueprint One is a strategic document which maps out the ways in which the Corporation intends to combine data, technology and new ways of working in order to revolutionise the Lloyd’s market. The proposals are wide ranging and touch upon all facets of business at Lloyd’s, from risk placement through to claim payment, along with initiatives for attracting more capital and the development of new products.
Read moreIs your OEE cover under control?
This month marked the 32nd anniversary of the devastating fire and explosion which destroyed the Piper Alpha platform in the UK sector of the North Sea. The event remains one of the largest ever offshore catastrophes, tragically claiming 167 lives.
Read moreHealth and Safety Bulletin – June 2020
Welcome to the latest edition of our Health and Safety update.
Read moreCoronavirus – a bumpy road ahead for D&O
Globally, insurers are waiting to see how COVID-19 related exposures will impact their respective D&O books. RPC has accessed a number of pre-eminent insurance practices in the major claims centres to swap notes on the possible D&O exposures in their respective jurisdictions and how they envisage insurers might act in response.
Read moreDraft Fatal Accidents Act 1976 (Remedial) Order 2020: Second Report
On 18 May 2020, the commons Human Rights Committee published their second report on the reforms proposed to bereavement damages available in the UK.
Read moreInternational risk team - What’s my part in all this?
One of the most common issues to arise in offshore energy construction claims is the application of WELCAR’s Defective Parts clause.
Read moreInternational risk team: Aggregation issues in Covid-19 related claims
A lot of electronic ink has been used by lawyers to debate whether coronavirus on the surface of physical things constitutes damage. Although that may have seemed a crucial question some weeks ago before the lock-down it is probably largely academic now.
Read moreGeneral liability newsletter - April 2020
Welcome to the latest edition of our general liability newsletter, rounding up some the key cases from the last few months.
Read moreInternational risk team - The Atlantik Confidence: precautions to take in respect dubious claims in the wake of economic crises
Insurers want to pay claims. However, insurance claims history shows that when certain businesses face an existential threat they are inclined to take a very aggressive attitude towards their insurance “assets” in a desperate attempt to generate liquidity.
Read moreInternational risk team: The Evolution of the Remedy of Avoidance
There used to be a side-splitting “joke” amongst the barrister authors of a particular insurance law textbook that its title ought to have been “How to Avoid”.
Read moreInternational Risk Team: Arbitration in the time of Coronavirus - should Tribunals suspend proceedings?
The global pandemic has caused many of the ‘normal’ facets of life to come to an abrupt standstill. The legal world is, of course, not immune to the effects of coronavirus and dispute resolution has been impacted.
Read moreInternational Risk Team: Practical briefing - marine products
The impact of the current COVID environment (and its longer-lasting effects) on marine insurance products falls, we believe, into three categories.
Read moreInternational risk team: The impact of COVID-19 on existing business interruption claims
The global spread of COVID-19 and its impact on a wide range of businesses is unprecedented in its speed and scale.
Read more“Tech, lies and video-conferencing”: The Court’s implementation of remote hearings
Perhaps very few legal practitioners would have thought that an establishment so rooted in 19th century custom and tradition would be so willing to adopt comparatively modern means of navigating the logistical challenges brought about by the COVID-19 pandemic.
Read moreInternational risk team: Practical suggestions for prompt payment on complex claims
In the current climate, settling claims and getting funds to an assured promptly is as vital now as it ever was.
Read moreInternational risk team: Mitigation in Trade Credit Insurance
The measures taken by governments around the world to halt the spread of COVID-19 are already having a significant impact on the global economy. The prohibitions on trade, and closures of businesses, unfortunately mean that an increase in defaults and insolvencies is inevitable.
Read moreHealth and Safety Bulletin – March 2020
Welcome to the latest edition of our Health and Safety update.
Read moreInsureds likely face uphill battle in seeking coverage for coronavirus losses in both US & UK
As the coronavirus, COVID-19, continues to spread, organizations around the globe are facing mounting business disruptions and economic losses. Some of these entities may seek coverage for these losses under a variety of insurance policies. Coverage under any form will depend, of course, on the facts of the claim, policy wordings, and the applicable law. Here, we highlight some policy wordings insurers should keep in mind when evaluating coronavirus-related claims under various coverage forms.
Read moreRisk management for surveyors – how to be prepared for your PII renewal
Surveyors will be aware of the requirement to have Professional Indemnity Insurance (PII), both for RICS membership and to protect themselves in the event of a claim. Despite the fact that valuers are facing considerably fewer claims than they did in the years following the 2008 economic crisis, there has still been a reduction in the availability of PII and surveyors are facing a challenging time when they come to renew their insurance.
Read moreContingency market coronavirus briefing – event cancellation
On 11 March 2020, the World Health Organisation declared the current COVID-19 outbreak to be a worldwide pandemic. For the vast majority of people, this label may make little practical difference; the WHO designation does not trigger any automatic or mandatory global reaction, and the decision as to the steps to be taken in response to the outbreak remain in the hands of national governments.
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