INSURANCE ISSUES. Key issues for the insurance market. CMS Cameron McKenna

Size: px
Start display at page:

Download "INSURANCE ISSUES. Key issues for the insurance market. CMS Cameron McKenna"

Transcription

1 INSURANCE ISSUES Key issues for the insurance market CMS Cameron McKenna Autumn 2012

2 Contents 4_ Accountants and other financial advisors 6_ Aviation 8_ Construction and property 10_ Consumer and accident & health 12_ Costs and funding 14_ Cyber and media technology 16_ D&O 18_ Energy 20_ Financial institutions 22_ Healthcare 24_ Insurance brokers 26_ Political risk, trade credit and contingency 28_ Regulation 30_ Reinsurance 32_ Solicitors 34_ Surveyors Insurance Issues aims to highlight recent legal and regulatory developments that are relevant to areas of our clients business. It is not a comprehensive statement or review of the relevant law and it is, of necessity, intended to simplify and summarise the issues that it covers. It must not therefore be relied on as a substitute for obtaining legal advice. Specific advice must always be sought in relation to any particular circumstances. CMS Cameron McKenna LLP and our Personnel accept no responsibility to any natural or corporate person for any loss or damage (whether as a result of negligence by us or our Personnel or otherwise) arising out of or in connection with the publication of this bulletin.

3 Welcome Welcome to the third edition of Insurance Issues. Insurance Issues is written by lawyers in our Insurance and Reinsurance Group and provides a twice-yearly snapshot of key issues affecting the insurance market, claims trends and a look ahead to what s on the horizon in the next six months. Ed Foss Head of Insurance and Reinsurance Group T +44 (0) E 2012 has seen a steady stream of claims against professionals with a number of cases involving accountants, solicitors, construction professionals and others reaching the courts. Yet again the courts have wrestled with the scope of a professional s duty of care and the extent to which duties are owed to those who are not the professional s client. In the fallout from the financial crisis we expect to see that trend continue. Kirsty Hick Partner Editor of Insurance Issues T +44 (0) E Diane Jerry Professional Support Lawyer Insurance and Reinsurance Group T +44 (0) E Developments in other areas include the long-awaited judgment of the Supreme Court in Fairclough Homes v Summers on exaggerated insurance claims and the decision in West Country Renovations v McDowell which set out guidance on the types of claims that should be brought in the TCC. The case suggests that there may in future be a reduction in the number of cases before the TCC in London. Looking ahead, both the Consumer Insurance (Disclosure and Representations) Act and the Jackson civil litigation costs reforms will come into force next year with important implications for the insurance industry. The Law Commissions are continuing their review of insurance contract law, including business insurance contacts, and are expected to publish their final recommendations and draft legislation by the end of next year. We hope you find Insurance Issues useful and informative. We are always keen to hear your views on our publications. If you have any comments, or if there are areas that you would like us to cover in future editions, we would very much like to hear from you. Law-Now It can be a chore having to keep up to speed with legal issues affecting your business. That is why over 28,000 people subscribe to Law-Now, our free alert and online information service. Law-Now lets you choose the topic areas and jurisdictions you are interested in. It only takes a couple of minutes to register online: visit and follow the instructions on screen. 3

4 Accountants and other financial advisors Key issues Accountants as scapegoats This year has seen an escalation in criticism of the accountancy profession, particularly in their role as auditors. After the House of Lords Economic Affairs Committee Report in March 2012 accused accountants of complacency and dereliction of duty that contributed to the financial crisis, Sir David Tweedie, President of ICAS, added his comments, describing relations between audit firms and their clients as pretty cosy. A Financial Reporting Counsel Guidance Note has called for more scepticism from auditors rather than accepting clients explanations unquestioningly, whilst the AADB (part of the FRC) has indicated that it will impose larger fines for any audit firms guilty of misconduct. The FRC itself has not escaped criticism, with suggestions that it must be reformed to create more independence from the companies it is regulating. In the meantime, the Competition Commission s review of audit services continues, with initial recommendations due to be published in April Focus is also turning increasingly to accountants role in tax avoidance schemes. The HMRC note Lifting the Lid on Tax Avoidance Schemes, published on 23 July 2012, gave notice of a clamp down on advisers, including accountants, who give their approval to tax avoidance schemes. A similar idea was highlighted by David Gauke MP, Exchequer Secretary to the Treasury, on the same day. Accountants are being placed in a position where they are being vilified for providing their clients with advice they are being asked for on legal tax avoidance schemes, because politicians have decided to reflect the popular mood and impose a moral dimension on tax advice. Duty of care The courts have revisited certain aspects of the perennial question of the extent of an accountant s duty of care. In Arrowhead Capital Finance Ltd (in liquidation) v KPMG LLP (2012) the court confirmed the principle that the accountants did not owe a duty of care to prospective purchasers of a company, even though, in this case, the viability of the target company had depended almost entirely on reclaiming VAT in a scheme approved by accountants but subsequently disallowed by HMRC. Accountants received a further boost from the decision in Integral Memory plc v Haines Watts (2012) where the court ruled that the accounting firm was not under a continuous duty to advise on changes in tax law, even where such changes would have an adverse impact on the efficacy of previously advised measures. This is not to say that such continuous duty cannot exist: in Quayle v Rothman Pantall (2012) the court found that the accountants were under a continuous duty to provide advice, which meant that no limitation defence was available. The distinction between the two decisions is that in Quayle the accountants were also advising the director on his personal tax returns and there was a stronger ongoing relationship than in Integral Memory. Consumer redress The debate regarding the extent of the fallout from the Arch Cru collapse rages on. In August the FSA issued a public warning to professional indemnity insurers, that it will take action against those who breach their obligations over Arch Cru cover. The FSA s open letter to insurers followed a three month consultation into the proposal that a consumer redress scheme should be established to provide access to over 110 million in compensation, for investors who were mis-sold Arch Cru funds. The proposal to hold IFA firms responsible for providing redress to consumers has not received universal support. The all party parliamentary group charged with examining the issue has emphasised that other players in the investment world were also culpable. Many commentators have noted that the FSA has yet to explain how and why Capita, and the two depositories involved in the scheme, were permitted to negotiate a cap on their liability before the total cost of investors losses has been established. The FSA s intervention was apparently a response to concerns expressed by IFAs that their PI insurers had refused to accept notifications made on the basis of the FSA s consumer redress consultation and the perceived risk that insurers would seek to exclude cover for Arch Cru claims on renewal. The FSA s Dear CEO letter contained searching enquiries regarding the circumstance notifications which insurers would deem to be acceptable. In addition, the letter invited comments from insurers regarding the average excess applicable to IFA firms which were not tarnished by association with Arch Cru and issued a raft of specific queries on the impact which the events surrounding Arch Cru will have on insurers treatment of IFAs in the future. 4 ACCOUNTANTS AND OTHER FINANCIAL ADVISERS INSURANCE ISSUES

5 What s on the horizon? Musings on the break up of the Big Four and/or compulsory separation into audit and non-audit firms continue. Concrete proposals are not however expected until the Competition Commission s report next year at the earliest. Less dramatically, the FRC proposed changes to the relationship between auditors and audit committees to take effect for financial years beginning on or after 1 October The auditor will be required to communicate to the audit committee information that the auditor believes the committee needs in order to understand the professional judgments made in the audit. The auditor must also report if the board s statement of why the annual report is fair and balanced is inconsistent with the knowledge acquired by the auditor in the course of the audit. Further down the line, the audit of public companies may be extended so that auditors report to shareholders on the company s business model and the robustness of the assumptions behind it. The Supreme Court hearing of the appeal in Prudential v Special Commissioner of Income Tax (2010), which will finally determine whether advice given by accountants on legal issues is protected by legal advice privilege, is listed for November It seems unlikely that the FSA will allow the impact of Arch Cru on the PI market for IFAs to pass without further comment, having become so publically embroiled in the debate. All eyes will be fixed firmly on the consequences of the consumer redress consultation and the outcome of the enquiries made to insurers in the FSA s open letter, both of which are expected to be published in the next few months. Claims trends Although we have not seen a significant increase in the number of claims against accountants generally - and this is consistent with the latest court and judicial statistics published by the Ministry of Justice (for 2011) - one area where we have seen an increase in claims is in respect of tax advice provided by accountants. Claims involving actuaries and pension schemes continue and issues involving administrators and equalisation of pension schemes still raise their heads. We continue to see a rise in complaints against IFAs, albeit these are, in the main, pursued with the FOS. The fall out from the collapse of structured products has hit the industry hard, with the Keydata/FSCS litigation of significance. We have also seen claims against IFAs relating to pension transfer advice from solicitors on CFAs, pursued in a formulaic fashion, similar to that seen in PPI litigation. There may be a further spike in claims pursued this way before the advent of the Jackson reforms next April. There has also been a trickle of claims in relation to UCIS investments. Given the FOS latest consultation paper proposing more stringent rules on the marketing of UCIS products this may become a steady stream. To find out more Visit our Law-Now website at and read more on accountants duty of care, claims relating to failed tax avoidance schemes and the Court of Appeal s decision in Prudential v Special Commissioner of Income Tax which is being appealed to the Supreme Court in November. Contacts Kirsty Hick T +44 (0) E Peter Maguire T +44 (0) E Belinda Schofield T +44 (0) E Tim Ingham T +44 (0) E Simon Garrett T +44 (0) E Martin Davis T +44 (0) E Emma Morris T +44 (0) E Stuart Treadaway T +44 (0) E Simon Radcliffe T +44 (0) E Caroline Hall T +44 (0) E Sarah O Connell T +44 (0) E sarah.o Melanie Harrison T +44 (0) E Jennifer White T +44 (0) E John Enoch T +44 (0) E 5

6 Aviation Key issues Liability of lessor where aircraft not airworthy In a recent decision of the Commercial Court, an airline was prevented from alleging that an aircraft did not comply with the provisions of a lease having signed a certificate of acceptance to the effect that it irrevocably and unconditionally accepted and leased the aircraft from the lessor. The certificate also stated that the aircraft complied in all respects with the conditions required at delivery by the lease. Shortly after delivery of the aircraft, corrosion was discovered in the spoiler cables and the aircraft s certificate of airworthiness was withdrawn. Unwilling to complete the repairs required to restore the certificate, the airline put the aircraft into storage. The lessor claimed for outstanding rent and maintenance payments and damages for loss of rent. The airline tried to counterclaim damages for breach of contract, alleging that the aircraft had not been delivered in accordance with the terms of the lease. In ACG Acquisition XX LLC v Olympic Airlines (2012) the court held that, due to the unequivocal representation made by the airline in the certificate of acceptance that the aircraft complied with the terms of the lease, it was prevented from alleging otherwise, notwithstanding that the court found that the aircraft was not, in fact, airworthy on delivery. In concluding that the aircraft was not airworthy, the court considered that an appropriate test for airworthiness is whether a prudent operator of an aircraft would have required a defect to be made good before permitting the aircraft to fly. In any event, the lessor had relied on the representation made by the airline to its detriment, having given up its right to refuse redelivery of the aircraft from the previous lessee, and the court found that it would be inequitable for the airline not to stand by its representation. The case underscores the need for lessees to take care when inspecting aircraft prior to acceptance and to ensure that any technical issues are, as far as possible, ironed out between the parties at this stage. In this case, once accepted, the lessee had to bear the risk of the aircraft not being airworthy, even where latent defects that existed prior to delivery manifested themselves at a later stage. It should be noted that an appeal is pending. Passenger compensation update The ECJ has issued its keenly-awaited judgment in the cases of Nelson v Lufthansa and TUI and Others v CAA (Cases C-581/10 and C-629/10) which supports the controversial decision of the court in Sturgeon v Condor (2009). In Sturgeon v Condor the court ruled that airlines are, pursuant to Regulation (EC) No 261/2004, obliged to offer compensation to passengers travelling within the EU whose flights are delayed by at least 3 hours. It reasoned that passengers who suffer long delays are essentially in the same position as those passengers whose flights are cancelled, as both suffer a loss of time. The court s interpretation of Regulation 261/2004 was widely criticised, not least by the airlines, and culminated in a referral by the High Court of England and Wales and the local court of Cologne in the cases of Nelson v Lufthansa and TUI and Others v CAA. In summary, the national courts asked the ECJ to indicate whether it stood by its earlier interpretation of the Regulation. The ECJ has now approved the decision in Sturgeon v Condor with the result that airlines financial exposure will increase in the event of delayed arrival of three hours or more. This could also impact upon airlines liability insurers depending on the precise wording and deductibles of their liability policy wordings and insuring clauses should be checked carefully. 6 AVIATION INSURANCE ISSUES

7 The case serves as an illustration of the increasing emphasis placed on passenger rights. The case serves as an illustration of the increasing emphasis placed on passenger rights, although it should be noted that compensation would not be payable for delays caused by exceptional circumstances that are beyond the control of the airline. What s on the horizon? The International Air Transport Association (IATA) recently reinforced its commitment to African aviation, calling on industry and government leaders in Central West Africa to make aviation a more integral part of African economic development and integration. Programmes are in place to address safety deficiencies and strengthen regulatory oversight in the region by 2015, which may lead to a corresponding reduction in claims in the area. Ethiopian Airlines is the first airline outside Japan to own a Boeing 787 Dreamliner; the company cites its geographical location as a reason behind its impressive growth. Contacts Tim Ingham T +44 (0) E Simon Garrett T +44 (0) E Michelle Radcliffe T +44 (0) E Hannah Fletcher T +44 (0) E David Walsh T +44 (0) E The London 2012 Paralympics has put the need for airlines to comply with the EU guidelines regarding disabled passengers back on the agenda. A new version of the guidelines was published in advance of the Paralympics games, although several disability charities feel that the guidelines do not go far enough and have suggested that further more stringent regulations ought to be put in place. 7

8 Construction and Property Key issues Property Damage to property and 50/50 clauses In June 2012, in European Group Limited and Others v Chartis Insurance UK Ltd (2012), the High Court confirmed that 50/50 clauses in insurance policies covering the same risk will be applicable if: there is such uncertainty that it is not possible to reach any conclusion as to when the relevant damage occurred or one theory as to causation of the loss is so improbable that, even if the other theory is ruled out, it cannot as a matter of common sense be described as more likely than not. A 50/50 clause is attached to project insurance policies (Construction/Erection All Risks), where the marine portion of the cover is not insured with the same insurer. The clause provides that if it is not possible to ascertain whether damage to Insured Property occurred during the marine part of the venture or during the period of CAR/EAR cover, the liability will be shared equally between the marine and EAR/CAR insurers. On the facts of this case, however, the 50/50 clause was not applicable. The judge found that damage caused by fatigue stress and cracking to economiser blocks to be installed at a waste recycling plant resulted from vibrations produced by rough road conditions in transit, and not from wind exposure during sea travel as alleged by the defendant CAR/EAR insurers. The defendant insurers presented an additional argument that, if the damage was caused in transit, there was an additional proximate cause as parts of the unit were defective before transit (the policy excluded liability for damage caused by inherent vice). The CAR/EAR insurers sought to rely on the principle that where a loss has two proximate causes, one covered and one excluded, the exclusion has the effect of exempting the insurer from liability. The judge found, as a matter of fact, that the units did not contain an inherent vice. Interestingly, the judge added that, as a matter of law, an inherent vice cannot be an additional proximate cause, where it is established that another proximate cause is an accident or event that occurs during the period of cover. Construction When it is appropriate to commence a claim in the Technology and Construction Court The decision in West Country Renovations v McDowell (2012) has provided guidance on the circumstances in which claims should be commenced in the TCC. Both parties to this case had requested that it remain in the TCC in order to take advantage of the court s case management practices and ability to secure reasonably early trial dates. This was despite it being a straightforward construction case regarding a disputed final account and an outstanding payment of some 104,000. Following discussion with the other High Court judges of the TCC, Akenhead J said that, in general, claims with a value of less than 250,000 should be commenced in county courts or other High Court centres outside London that have TCC-designated judges. He provided a non-exclusive list of exceptions to this rule which included, among other types of cases: cases involving adjudications, enforcements and arbitrations international cases cases involving new or difficult points of law in TCC business or technically complex cases and test cases. Accordingly, the claim was transferred to the Central London County Court. The judge highlighted that, going forward, if claimants issue a claim in an inappropriate court or division they run the risk that the court will transfer it elsewhere on its own motion or on application. The guidelines set out in this judgment are, in the absence of a practice direction, the unofficial practice of the TCC in London. 8 CONSTRUCTION AND PROPERTY INSURANCE ISSUES

9 The Pre-Action Protocol is no weapon or tactic The TCC also confirmed in April 2012 that the courts will take a pragmatic approach to the application of the Pre-Action Protocol for Construction and Engineering Disputes. In Higginson Securities (Developments) v Hodson (2012), the defendant applied for a stay of proceedings on the grounds that the Pre-Action Protocol had not been exhausted, as a without prejudice meeting had not taken place in accordance with paragraph 5.1 of the Protocol. The application was rejected on the facts with the court noting that while following the Pre-Action Protocol was important, it was not mandatory if the overriding objective of enabling the court to deal with cases justly could be achieved through alternative means. The judge said that the Protocol was not to be used as a weapon or tactic and must be considered in the context of the overriding objective. In low value claims, this meant that the process ought not to be dragged out and costs should be kept to a reasonable minimum. A pre-action meeting, however, is the default option, and if one party asks for such a meeting, it should usually take place. What s on the horizon? While there has been a steady increase in construction claims over recent years, the guidelines set out in West Country Renovations v McDowell (see above) suggest that, in future, the claims volume in the TCC in London will reduce, with the London TCC hearing only high value claims or those that are exempted from the general rule. The extremely high rainfall experienced this year, and in particular from April to June 2012 (the wettest ever recorded), led to widespread floods across the UK. Following a statement by the Government in September, it is expected that there will be an announcement before June 2013 (when the current Statement of Principles expires) on the future of floods insurance. Claims trends Insurers should expect (and are likely to have already seen) an increase in property claims arising from flood and storm damage. Such claims may well have a heavy impact on insurers profits, with the Association of British Insurers estimating that insurers may have to pay up to 500 million. To find out more Visit our Law-Now website at to read more on damage to property and 50/50 clauses and the application of the Pre-Action Protocol for Construction and Engineering Disputes. Contacts Stephen Tester T +44 (0) E Martin Fox T +44 (0) E Monica Lesny T +44 (0) E Belinda Schofield T +44 (0) E Cheryl Gibson T +44 (0) E Harriet Munro T +44 (0) E Alex Denslow T +44 (0) E Sarah Hyde T +44 (0) E Martin Davis T +44 (0) E Billie Bingham T +44 (0) E Nicola Cowan T +44 (0) E Kristin Byng Nelson T +44 (0) E Rebecca Reidy T +44 (0) E Juliet Rowe T +44 (0) E Geoff Tan T +44 (0) E 9

10 Consumer and Accident & Health Key issues Fraud Fraudulent claims remain a major issue for the insurance market. The Insurance Fraud Bureau has launched the Insurance Fraud Register (IFR) containing information about individuals who have made fraudulent claims. Andrew Buck, former claims manager at Aviva, has been appointed to oversee the roll out of the new register. The register will allow insurers to identify fraudsters at the point of purchase. Buck, a fraud detection specialist, will manage the integrity of the data loaded onto the IFR. The Insurance Fraud Bureau is also developing data-sharing and analytical tools to help insurers identify fraud at the point of application thereby reducing financial fraud. In June the Supreme Court handed down its keenly-awaited decision in Fairclough Homes v Summers (2012). The seven year legal battle involved an exaggerated insurance claim. The insured had been injured at work and his employer found liable in negligence. Zurich had argued that as the claim was substantially fraudulent it ought to be struck out in its entirety. The insured deliberately and fraudulently overstated his claim and this was proved by surveillance evidence. Despite its powers to strike out claims for abuse of process, the Supreme Court allowed the insured to keep the damages of 88, awarded to him in respect of the genuine element of his claim (10% of the total claim). The court refused to exercise its powers on the basis that these should only be used in exceptional circumstances. Despite the ruling, Zurich has been credited with helping the insurance industry fight grossly exaggerated claims as the judgment sends a warning to fraudsters that there is a risk of strike out of their entire claim where fraud is established. Mesothelioma claims In March the Supreme Court handed down its decision in Employer s Liability Policy Trigger Litigation: BAI (run off) v Durham (2012). The Supreme Court held that, in the context of EL insurance, injury sustained policy wording responds in mesothelioma cases at the point of exposure of the employee to asbestos fibres. It is not the later occurrence of an injury that triggers the insurers liability. Whilst the decision provides clarity, there remain several areas of potential dispute. Some EL policies only provide an indemnity if injury or disease is sustained or contracted during the policy period. However, the way in which asbestos causes mesothelioma has not yet been established by medical research and it is not possible to identify a physical injury when the asbestos enters the lungs. Insurers have argued that no injury is sustained until such time as a tumour develops. The injury does not, therefore, occur until many years after exposure. A 92-year old mesothelioma victim has been awarded 50,000 in a High Court case which hinged on the extent to which the amount of compensation awarded for loss of amenity should be less if the claimant is very old. In Ball v Secretary of State for Energy & Climate Change (2012), Mrs Justice Swift said that It is important to remember, however, that a person of any age who is informed that his or her life will be cut short by the effect of a harmful substance to which he or she has been wrongfully exposed is likely to suffer a good deal of distress. Package Travel Regulations A recent ECJ Judgment on a German case (Blödel-Pawlik) confirms that under EU law the cause of a tour operator s insolvency has no relevance to an insurer s obligation to pay: if the insurer s obligation to pay exists, it does not matter if the reason that triggers the insolvency of the operator is based on fraud or not. Some industry commentators have suggested that the judgment has a wider relevance, abrogating Tour Operator Failure insurers ability to decline claims, but that misunderstands the ambit of the decision. What s on the horizon? Consumer Insurance Act The Consumer Insurance (Disclosure and Representations) Act 2012, which is likely to come into force in March 2013, will fundamentally change the law on pre-contract representations and disclosure for individual consumers. It is intended that the Act will result in a higher number of consumer claims being paid and more proportional payment of claims. Fewer outright rejections of claims will be permissible. 10 CONSUMER AND ACCIDENT & HEALTH INSURANCE ISSUES

11 Under the Act, the individual consumer s duty of disclosure is abolished and replaced with a duty to take reasonable care not to make a misrepresentation to the insurer. Under the new regime, insurers must ask questions to ascertain the information that they need to assess the risk being insured (including upon renewal or variation). In the event that the consumer makes a qualifying misrepresentation carelessly, the Act introduces proportional remedies with the result that a claim may still have to be paid in material respects, even if a misrepresentation was made. It is not possible to contract out of the Act and accordingly the Act has significant implications for insurers. Insurers will need to review proposal and application forms, underwriting guidelines and policy terms to reflect the changes to the law towards the end of this year in order that they are prepared for the Act to take effect in March Costs and funding reforms The Legal Aid, Sentencing and Punishment of Offenders Act received royal assent on 2 May The Act will implement aspects of the recommendations made by Lord Justice Jackson in his Review of Civil Litigation Costs which require changes to primary legislation. The changes under the Act include: Non-recoverability of CFA success fess and ATE premiums these will cease to be recoverable from an opponent Damages-based agreements will be allowed New Part 36 rules will be introduced penalising defendants who fail to beat a claimant s Part 36 offer and There will be a ban on receipt or payment of referral fees. The costs reforms will come into force in April 2013 and will have significant implications for litigants in the light of the above changes. It is expected that the number of costs related disputes will increase and that there will be greater demands for help with costs management. Gender discrimination In its decision in the Test-Achats case, the European Court of Justice ruled that, from 21 December 2012, the derogation to Directive 2004/113/EC, which at present allows insurers to charge different premiums and provide different levels of benefits based on an individual s gender, will cease to have effect. The UK government is implementing the decision by amendment to the Equality Act Insurers will need to ensure that the appropriate arrangements have been made to set unisex premiums and benefits in insurance contracts entered into after 21 December Claims trends The Consumer Insurance (Disclosure and Representations) Act 2012 is scheduled to come into force in March next year. The avowed intention of the Act is to increase the number of insurance claims paid to consumers. Fraudulent claims have been a growing problem for the insurance market in recent years, particularly in home and motor insurance. According to data published by the ABI, in 2011 the most commonly made fraudulent claims were home insurance claims with 71,000 dishonest claims worth 106 million, while the most expensive fraudulent claims were motor insurance claims with 45,000 claims worth 541 million. In total insurers detected 139,000 dishonest or exaggerated claims of almost 1 billion of value. It is hoped that the launch of the Insurance Fraud Register will result in a significant decrease in the number of fraudulent claims. To find out more Visit our Law-Now website at and read more on the Supreme Court s decision in Fairclough Homes v Summers and the Consumer Insurance (Disclosure and Representations) Act. Contacts Stephen Netherway T +44 (0) E Kate Murphy T +44 (0) E Lucy Russell T +44 (0) E Amit Tyagi T +44 (0) E 11

12 Costs and Funding Key issues The Legal Aid, Sentencing and Punishment of Offenders Act (LASPO) received royal assent in May. Although not obvious from its title, the Act will implement the main reforms proposed by Lord Justice Jackson s Review of Civil Litigation Costs and will come into force on 1 April The main costs and funding reforms introduced by the Act are: CFA success fees and ATE insurance premiums CFA success fees will cease to be recoverable from an opponent and, in certain cases such as personal injury, will be subject to a maximum percentage of damages, which will probably be set at 25%. Similarly, ATE insurance premiums will not be recoverable from an opponent, apart from in certain clinical negligence actions, where premiums relating to insurance taken out to cover the costs of instructing an expert will remain recoverable. The irrecoverability provisions will not apply to individual CFAs entered into or ATE policies taken out before the Act comes into force. Damages-Based Agreements DBAs will be permissible in all types of proceedings in which CFAs are currently permitted. Under a DBA, the client agrees to pay the solicitor an amount determined by reference to the amount of the financial benefit the client obtains. DBAs are usually referred to as contingency fees and are common in other jurisdictions and are also used in this jurisdiction in employment tribunal proceedings. The Ministry of Justice has recently published details of the caps on the amount of damages that it will be possible to take as a contingency fee in cases conducted under a DBA. For all non-personal injury claims (except employment tribunal cases) a 50% cap will apply. For personal injury claims there will be a cap of 25% (excluding damages for future care and loss). Part 36 offers to settle The Act also provides for rules of court to be adopted allowing for the payment of an additional amount to a successful claimant in a money claim who obtains judgment equal to or better than its own Part 36 offer. The additional amount will be set at 10% of the damages involved, subject to a maximum cap of 75,000 (with a tapering provision between 500,000 and 1 million). Accordingly, in addition to paying the usual Part 36 penalties - interest at 10% above base rate on the damages awarded, indemnity costs and interest on those costs at 10% above base rate the defendant will also have to pay up to an additional 10% of the damages awarded. Unlike the CFA and ATE reforms, which are likely to be most strongly felt in personal injury litigation, DBAs offer a new avenue for funding large commercial claims and have the potential to change the landscape of commercial litigation funding. Similarly, the changes to the Part 36 regime may have a substantial effect on large commercial claims. We may see an increase in the number of offers made by claimants and an accompanying increase in defendants potential liabilities under those offers. This will necessitate even closer scrutiny of well-judged Part 36 offers. As has been widely reported, following an application by the ABI the Court of Appeal took the unusual move of reopening its decision in the case of Simmons v Castle (2012). In handing down its original judgment, the Court of Appeal had taken the opportunity to state that, in all cases where a judgment was given on or after 1 April 2013, the proper level of general damages to be awarded for personal injury, nuisance, defamation and all other tort claims that cause suffering, inconvenience or distress to individuals would be increased by 10%. In a revised judgment delivered in October, the court 12 COSTS AND FUNDING INSURANCE ISSUES

13 The changes to the Part 36 regime may have a substantial effect on large commercial claims. amended its original statement so that the 10% increase in damages will apply from 1 April 2013 except where the claimant had entered into a CFA before that date. The court also clarified that the types of damages to which the 10% increase should apply (in both contract and tort cases) are pain and suffering and loss of amenity, physical inconvenience and discomfort, social discredit and mental distress. The revised judgment has been welcomed by the ABI. If the original judgment had stood, claimants who had entered into CFAs before 1 April 2013, and whose cases were not settled or decided before that date, would have been able to claim 10% more in damages while at the same time being able to recover the success fees. Contacts Stephen Netherway T +44 (0) E Monica Lesny T +44 (0) E What s on the horizon? The costs reforms in the Legal Aid, Sentencing and Punishment of Offenders Act will come into force on 1 April 2013 but the final details of the procedural rule changes needed to implement some of the reforms have yet to be announced. To find out more Visit our Law-Now website at and read more on the Legal Aid, Sentencing and Punishment of Offenders Act and the Court of Appeal s decision in Simmons v Castle. 13

14 Cyber and Media technology Key issues An increasing area of concern Cyber attacks are a growing area of concern; last year it was reported that the number of cyber criminals targeting UK corporates rose sharply, with cyber attacks costing UK businesses approximately 21 billion a year. Cyber attacks have claimed high profile victims, such as Sony PlayStation, Lockheed Martin and Nissan. In addition, companies in financial services, health care, communications, retail and hospitality are often attractive targets for hackers. These attacks often come from so called hacktivists as hackers become increasingly ethically and politically motivated, often seeking press exposure and reputational damage. Threats also come from disgruntled employees as well as competitors. In addition, developments in web and communications technology have been rapid and businesses have swarmed to the internet, creating a range of problems with data security in online transactions. It is becoming increasingly difficult for organisations to protect their data and networks from theft and hacking and the stakes for a breach are high. Victims commonly suffer business interruption, lost revenue and a loss of reputation and public trust. What are the risks? Cyber risks can take various forms. Typical examples include data breaches and privacy breaches, where the security of data or personal information is compromised. Cyber attacks can cause reputational damage and there are also risks associated with the widespread use of . Businesses can be exposed to theft of intellectual property and inadvertent copyright infringement. Further, a corporate could also be liable to a third party if it is inadvertently caused to transmit viruses. When systems are put out of action, business interruption can cause significant losses. Insurance cover Currently, many companies do not have a specific cyber risk policy and may seek to rely on existing professional indemnity, business interruption and property policies. However, there are risks in doing so, as losses arising from cyber risks are sometimes excluded from these types of policies, which may also require physical loss or damage not often seen in a cyber attack. It is expected that in the near future, more businesses and organisations will purchase cyber risk policies to help mitigate the threats, liabilities and costs resulting from cyber incidents. The increasing frequency and severity of breaches and financial implications that follow mean that the area of cyber liability could represent a new growth area in the UK insurance market. What s on the horizon? Increased regulation Proposals for a major reform of data protection laws have been announced by the European Commission. The draft General Data Protection Regulation is likely to be adopted in 2014 and to come into force two years after its adoption. The reforms are likely to impose additional obligations on organisations, for example an obligation to maintain documentation about how data is processed and to notify data protection authorities and data subjects without undue delay when there has been a breach that is likely to have an adverse impact. Currently in the UK there is no mandatory requirement for a data security breach to be notified to the ICO, however notification to the ICO is recommended and will be taken into consideration when the ICO assesses the consequences of a data security breach. Under the new proposals, a failure to comply would most likely result in a fine and there is also a risk of reputational damage. It is proposed that fines will also be imposed, for example when companies charge a user for a data request, or fail to correct wrong information. 14 CYBER AND MEDIA TECHNOLOGY INSURANCE ISSUES

15 Cyber attacks can cause reputational damage and there are also risks associated with the widespread use of . If the USA is anything to go by, where the biggest driver for cover is mandatory notification and regulation, increased regulation in the EU is likely to increase the sale of cyber risk policies. Obligations on the insured A Cyber Insurance Working Group has been established by insurers, including Liberty, Zurich and CNA Europe, to establish minimum security standards to help prevent cyber attacks. Therefore, insurers providing cover will be able to demand a specific structured demonstration of commitment from their insureds and ultimately avoid the costly fallout from claims, particularly where there is little scope for insurers to make any significant recoveries in the event of a loss. This will also benefit the insured as in implementing the minimum standard they will benefit from a strengthened infrastructure and cyber risk mitigation. Recent studies by Verizon and PwC highlight some interesting trends, which may in time be reflected in claims data. The main threats are reported to come from external agents, who accounted for 98% of deliberate breaches. However, the vast majority (85%) of breaches relate to small companies, in particular the hotel and restaurant trades, where relatively unsophisticated companies hold significant amounts of personal data. This shows that small businesses are failing to take simple steps to protect themselves, possibly due to a lack of awareness. However, large sophisticated organisations still account for the majority of serious breaches, with so called hacktivists being the single largest cause of compromised records. New risks are likely to arise from an increased use of outsourced data handlers and use of the cloud is likely to present risks in relation to data privacy and loss aggregation. As the importance of cyber risk insurance grows and policies become more common, we will probably start to see a standardisation in products for small to medium companies. However, the pace and scale of change means that larger international companies may require a suite of products depending on their business operations. Claims trends As cyber risk insurance is a relatively new type of product, we have yet to see any reliable statistics on claims filings and payouts. Contacts Kirsty Hick T +44 (0) E Monica Lesny T +44 (0) E Tom Scourfield T +44 (0) E Chris Bradshaw T +44 (0) E Rebecca Reidy T +44 (0) E Chloe Cramphorn T +44 (0) E 15

16 D&O Key issues Regulatory oversight of executives in the financial services sector One of the major consequences of the sub-prime crisis has been a significantly increased regulatory focus on executives and senior managers in the financial sector. This has seen the FSA and other regulatory bodies become increasingly willing to launch investigations, and pursue enforcement actions, against individuals. As a result a number of very substantial fines have been imposed over the last few years (with multi-million pound fines imposed this year alone). This trend shows no sign of abating. Indeed, if anything, popular sentiment has turned further against executives in the financial sector as a result of recent issues such as LIBOR submissions and the sale of interest rate hedging products which have hit the headlines and seen executives hauled in front of parliamentary committees. The ramifications of these trends are extremely serious. As well as potentially significant financial penalties, a censure by a regulatory authority has major reputational implications for directors, officers and senior employees. Moreover, in serious cases directors can face criminal investigations into their conduct (as is understood to be the case in respect of the matter of LIBOR submissions). Executives in the financial sector also operate in an increasingly global marketplace and may come under the scrutiny of authorities around the world. A rapidly changing risk environment The globalisation of the commercial and business environments and the increased use of technology (which has fuelled this trend) brings new opportunities but also new risks for companies and their senior management. What was originally termed a sovereign debt crisis is no longer simply a matter for national governments. Indeed, the implications of the ongoing crisis extend well beyond the financial sector. It almost goes without saying that banking executives who have not prepared their organisations to deal with a potential exit of one or more countries from the Euro may be falling short in their duties. However, the issue ought to be very much on the radar of executives across a range of industries. To take just a couple of examples: retailers with operations across Europe may hold significant funds in Euros on a daily basis and many companies may have entered into commercial contracts which require them, or their counterparties, to make payments or post security in Euros or in countries within the Eurozone. If one or more countries is forced to leave the Eurozone, or if the Euro ceases to exist entirely, it could have a major impact on the daily operations and financial positions of these companies. Interestingly, survey results reported in the press suggest that while executives are aware of some of these risks, a significant proportion do not feel their organisations are fully prepared. The increasing use of technology has enabled many companies to do business more efficiently and reach new customers or marketplaces. Indeed, whole new industries have been spawned by the advent of new technologies. However, this also means that companies are increasingly reliant on the use of technology to keep their business running smoothly. In some cases technology such as an e-commerce website which takes customer orders - is absolutely critical to the daily operation of the business. Moreover, many organisations which would not necessarily consider themselves to be tech businesses are increasingly exposed to technology related risks, such as loss of customer data or cyber fraud. As the costs of dealing with such incidents increase (along with the potential liabilities to customers and third parties), cyber security should be increasingly high on executives agendas (with directors who do not address these issues exposing themselves to the charge that they are not fulfilling their duties to the company). 16 D&O INSURANCE ISSUES

17 An interesting development on the horizon is the changes to legal aid and the recovery of legal costs by individuals who successfully defend criminal prosecutions against them. What s on the horizon? An interesting development on the horizon is the changes to legal aid and the recovery of legal costs by individuals who successfully defend criminal prosecutions against them. Successful defendants are currently able to recover their costs via a Defence Costs Order. A previous attempt in 2010 to cap the recovery of costs did not succeed but new statutory provisions being introduced by the government will mean that individual defendants will be unable to recover their costs in most Crown Court proceedings unless they did not take up legal aid or were ineligible for it. This development may serve to highlight the value of D&O insurance to directors who could find themselves the subject of criminal prosecutions (for example, for fraud) and will be left footing a significant bill if they choose to instruct their preferred choice of defence lawyers, even if successful. At the same time, it limits the potential for D&O insurers to recoup the costs which have been paid out. Claims trends As well as continued regulatory investigations, enforcement actions and even criminal prosecutions of directors and other senior individuals, we expect to continue to see individuals being named as co-defendants in litigation brought against companies (especially in the financial sector), particularly in US shareholder actions which often use decision notices issued by regulatory authorities as a springboard to launch claims against management. Contacts Stephen Tester T +44 (0) E Simon Garrett T +44 (0) E Tim Ingham T +44 (0) E Belinda Schofield T +44 (0) E Cheryl Gibson T +44 (0) E Chris Bradshaw T +44 (0) E Rebecca Bailey T +44 (0) E Joanna Owens T +44 (0) E Amit Tyagi T +44 (0) E 17

18 Energy Key issues Arbitration agreements The Court of Appeal has given guidance on the principles that will determine the law applicable to an agreement to arbitrate where the parties have not expressly agreed the law that will apply. Sulamerica CIA Nacional De Seguros SA v Enesa Engenharia SA (2012) concerned claims under insurance policies against risks arising in connection with the construction of a hydroelectric generating plant in Brazil. The policies contained choice of Brazilian law and jurisdiction clauses as well as arbitration clauses stating that the seat of an arbitration would be London. The court held that English law governed the agreements to arbitrate notwithstanding that the contracts were governed by Brazilian law. The law governing an arbitration agreement does not have to be the same as the law that applies to the policy; the proper law of the arbitration agreement will be determined by a three-stage enquiry into: (1) whether there is an express choice of law, (2) whether there is an implied choice of law and (3) the law that has the closest and most real connection with the agreement to arbitrate. The fact that the parties had agreed that Brazilian law governed the policies was a strong pointer that English law was not the proper law of the arbitration agreements but was not conclusive. Proposed changes to support for solar PV and biomass The Department for Environment and Climate Change has launched two consultations on proposed changes affecting the support given to solar photovoltaic (PV) and biomass generating stations through Renewables Obligation Certificates (ROCs). The proposals would see ROCs received by solar PV installations reduced for installations accredited or enlarged on or after 1 April 2013 and require certain biomass installations to meet more stringent sustainability criteria in order to be eligible for ROCs from October The proposals would apply only limited grandfathering of these criteria to 2020, and would introduce a cap on the proportion of their Renewables Obligation that suppliers can meet through new dedicated (not CHP) biomass. European oil and gas safety rules The European Parliamentary Committee on Industry, Research and Energy has endorsed the European Commission s proposed regulation on the safety of offshore oil and gas prospection, exploration and production activities on the basis that it is implemented as a Directive rather than a Regulation. A Directive would provide much greater flexibility to member states as to the means by which they implement the legislation. It would also have only minimal impact on the mature North Sea safety regimes, yet require other member states, such as those with interests in the Mediterranean, to raise their standards. The decision will be welcomed by the UK government and industry body, Oil & Gas UK. Some further negotiations with the European Council are expected before the draft is put before the European Parliament. What s on the horizon? The Government s Energy Bill will be introduced this autumn. In May a draft Energy Bill was published containing proposals to reform the electricity market, restrict the emissions of new coal plants and give statutory footing to the Office for Nuclear Regulation. In a press release the Department for Energy and Climate Control said that it expected the Energy Bill to achieve Royal Assent in 2013 so that the first low-carbon projects can be supported in The draft Bill has been scrutinised by the Energy and Climate Change Committee who published their report in July. The DECC has said that it welcomes the report and is considering the recommendations made. The Government s response to the report is likely to be published at the same time as the Energy Bill is introduced to Parliament. 18 ENERGY INSURANCE ISSUES

19 In a press release the Department for Energy and Climate Control said that it expected the Energy Bill to achieve Royal Assent in 2013 so that the fi rst low-carbon projects can be supported in To find out more Visit our Law-Now website at and read more on the decision in Sulamerica CIA Nacional De Seguros SA v Enesa Engenharia SA, the proposed changes to support for solar PV and biomass, European offshore safety regulation and the draft Energy Bill. Contacts Stephen Tester T +44 (0) E Belinda Schofield T +44 (0) E Kirsty Hick T +44 (0) E Alex Denslow T +44 (0) E Sarah Hyde T +44 (0) E Eve O Brien T +44 (0) E eve.o 19

20 Financial Institutions Key issues Eurozone crisis Following a relatively quiet summer, the future of the Euro is dominating the headlines once more. While initial impressions are that Europe has responded positively to the first challenges of the autumn, there are big questions still to be answered. Markets initially responded positively to the ECB s proposal that it would embark on a potentially unlimited bond-buying programme to bring down the borrowing costs of Italy, Spain and other troubled Eurozone countries. This was followed by Germany s Constitutional Court rejecting legal challenges to the creation of a permanent bail-out fund (the ESM). The court ruled that the ESM is not unconstitutional although it stated that German liability to the ESM must not exceed 190 billion without the approval of Parliament. The outcome of the recent Dutch election also appeared to send a positive message about the future of Europe, with EU members breathing a collective sigh of relief at the victory of the Dutch Prime Minister, Mark Rute, and his conservative-liberal VVD party. These results signify the victory of a pro-european party over the eurosceptic socialists and the populist freedom party, who were not only in favour of leaving the Euro but also the EU. However, the Greek economy continues to face severe problems with the Finance Minister failing to reach an agreement on austerity measures with Troika inspectors in September. Greece has been unable to stick to the terms of its bailout and will inevitably have to ask for a third bailout or face bankruptcy and a possible Eurozone exit without a further tranche of aid. However, a decision on Greece will not be made until Troika draws up a formal report in the coming weeks. At the same time, the Spanish prime minister s insistence that a bail out is not yet inevitable (and that Spain would not accept tough austerity conditions) looks increasingly unrealistic, given the continued problems facing its banks, the deep recession and over 25% unemployment. Added to this are the continued voices of discontent audible throughout Northern Europe (for example, Finland). Having initially negotiated special terms for Finland s contribution to the Eurozone bail-outs, the Foreign Minister has been reported as stating that the country has put in place contingency plans in the event of the break-up of the Euro. Regulatory investigations UK banks have continued to experience greater regulatory scrutiny. The sale of interest rate hedging products has recently been the subject of investigation by the FSA following a number of complaints received from customers claiming that they were not made aware of the risks associated with the products. The FSA s investigations resulted in findings of serious failings in the sale of interest rate hedging products (such as swaps, caps, collars and structured collars) to SME s. The FSA identified issues with regard to product complexity, sales practices regarding the disclosure of exit costs, failure to ascertain customers understanding of risk, sales straying into advice and over-hedging. The investigation resulted in an agreement between the FSA and a number of banks who agreed to review the sale of these products to non-sophisticated customers. To add to their woes the FSA also issued a final notice to a UK bank with regard to the fixing of LIBOR - with fines being imposed by both the FSA and the US authorities. A number of other banks are understood to be under investigation by authorities around the globe. Criminal investigations have also been launched. Another UK headquartered bank has found itself under examination by the regulatory authorities, resulting in a settlement with New York state s Department of Financial Services for allegedly illicitly processing $250 billion worth of transactions with Iran. The agreement resulted in the bank paying $314 million in civil penalties and agreeing to various other provisions. The action by the DFS resulted from US sanctions banning financial transactions with Iran. What s on the horizon? Perhaps the biggest issue on Europe s agenda is the EC s proposals for central supervision of Europe s banks (and whether this will cover all 6,000 lenders in the Eurozone or just the systematically important banks). Plans under consideration include the ECB creating a fresh Council with powers to grant banking licences and sanction violators. The early stages of 20 FINANCIAL INSTITUTIONS INSURANCE ISSUES

Briefing for the Legal Aid, Sentencing and Punishment of Offenders Bill Committee. An interlocking package of reforms

Briefing for the Legal Aid, Sentencing and Punishment of Offenders Bill Committee. An interlocking package of reforms Briefing for the Legal Aid, Sentencing and Punishment of Offenders Bill Committee An interlocking package of reforms March 2012 Briefing for Members of the Legal Aid, Sentencing and Punishment of Offenders

More information

CONDITIONAL FEE AGREEMENTS GUIDANCE

CONDITIONAL FEE AGREEMENTS GUIDANCE Disclaimer In all cases solicitors must ensure that any agreement with a client is made in compliance with their professional duties, the requirements of the SRA and any statutory requirements depending

More information

EXPLANATORY MEMORANDUM TO THE CONDITIONAL FEE AGREEMENTS ORDER 2013. 2013 No. 689

EXPLANATORY MEMORANDUM TO THE CONDITIONAL FEE AGREEMENTS ORDER 2013. 2013 No. 689 EXPLANATORY MEMORANDUM TO THE CONDITIONAL FEE AGREEMENTS ORDER 2013 2013 No. 689 1. This explanatory memorandum has been prepared by the Ministry of Justice and is laid before Parliament by Command of

More information

The Incorporated Law Society of Cardiff and District. Members Forum 30 January 2013 JACKSON REFORMS WHERE ARE WE NOW? Michael Imperato Simon Cradick

The Incorporated Law Society of Cardiff and District. Members Forum 30 January 2013 JACKSON REFORMS WHERE ARE WE NOW? Michael Imperato Simon Cradick The Incorporated Law Society of Cardiff and District Members Forum 30 January 2013 JACKSON REFORMS WHERE ARE WE NOW? Michael Imperato Simon Cradick Agenda Legal Aid, Sentencing and Punishment of Offenders

More information

Implementation of the Jackson Reforms. The key changes.

Implementation of the Jackson Reforms. The key changes. March 2013 Implementation of the Jackson Reforms. The key changes. Introduction On 1 April 2013, a large tranche of the reforms proposed by the 2010 review of civil litigation costs by Lord Justice Jackson

More information

QBE European Operations. Portal extension. Guidance document June 2013. Ministry of Justice extension to the claims protocols Maximising Opportunities

QBE European Operations. Portal extension. Guidance document June 2013. Ministry of Justice extension to the claims protocols Maximising Opportunities QBE European Operations Portal extension Guidance document June 2013 Ministry of Justice extension to the claims protocols Maximising Opportunities Portal extension Guidance document June 2013 Ministry

More information

T&Lbulletin CONSTRUCTION TECHNICAL & LEGAL BULLETIN FEBRUARY 2013

T&Lbulletin CONSTRUCTION TECHNICAL & LEGAL BULLETIN FEBRUARY 2013 T&Lbulletin CONSTRUCTION TECHNICAL & LEGAL BULLETIN FEBRUARY 2013 2013 JACKSON REFORM UPDATE From the beginning of April this year, Employers Liability (EL), Public Liability (PL) and Motor Injury Claims

More information

www.mcdermottqc.com Legal Aid, Sentencing and Punishment of Offenders Bill: Implications for Personal Injury Litigation

www.mcdermottqc.com Legal Aid, Sentencing and Punishment of Offenders Bill: Implications for Personal Injury Litigation www.mcdermottqc.com Legal Aid, Sentencing and Punishment of Offenders Bill: Legal Aid, Sentencing and Punishment of Offenders Bill: The Legal Aid, Sentencing and Punishment of Offenders Bill covers a wide

More information

Key aspects of the Jackson review and related reforms - progress update as at 3 rd September 2012

Key aspects of the Jackson review and related reforms - progress update as at 3 rd September 2012 Key aspects of the Jackson review and related reforms - progress update as at 3 rd September 2012 In brief Lord Justice Jackson s key task was to address disproportionate costs in civil litigation i.e.

More information

Advice Note. An overview of civil proceedings in England. Introduction

Advice Note. An overview of civil proceedings in England. Introduction Advice Note An overview of civil proceedings in England Introduction There is no civil code in England; English civil law comprises of essentially legislation by Parliament and decisions by the courts.

More information

LASPO. Why has. come about brief history of reforms

LASPO. Why has. come about brief history of reforms Contents Foreword 2 3 Foreword: Why has LASPO come about 4 Changes to funding and implications 6 Changes in practice 7 Track limits 8 The RTA and EL/PL Protocols 11 Referral fees 12 Contact information

More information

Briefing on Amendments 132AA and 132AB to the Legal Aid, Sentencing and Punishment of Offenders (LASPO) Bill

Briefing on Amendments 132AA and 132AB to the Legal Aid, Sentencing and Punishment of Offenders (LASPO) Bill Briefing on Amendments 132AA and 132AB to the Legal Aid, Sentencing and Punishment of Offenders (LASPO) Bill Kennedys advocates the repeal of Amendments 132AA and 132AB added to the Legal Aid, Sentencing

More information

Management liability - Employment practices liability Policy wording

Management liability - Employment practices liability Policy wording Special definitions for this section Benefits Claim Defence costs The General terms and conditions and the following terms and conditions all apply to this section. Any compensation awarded to an employee

More information

Disease: solving disputes post 1 April 2013

Disease: solving disputes post 1 April 2013 Disease: solving disputes post 1 April 2013 This update examines the impact made by the Jackson reforms since their implementation on 1 April 2013 and looks forward to the extension of the RTA portal due

More information

Who s next after TalkTalk?

Who s next after TalkTalk? Who s next after TalkTalk? Frequently Asked Questions on Cyber Risk Fraud threat to millions of TalkTalk customers TalkTalk cyber-attack: website hit by significant breach These are just two of the many

More information

QBE European Operations Professional liability

QBE European Operations Professional liability QBE European Operations Professional liability Disclosure of insurance details revisited QBE Professional Liability Disclosure of insurance details revisited/november 2013 1 Disclosure of insurance details

More information

Civil Justice Council response to Insurance Task Force interim report. May 2015

Civil Justice Council response to Insurance Task Force interim report. May 2015 Civil Justice Council response to Insurance Task Force interim report May 2015 The CJC welcomes an initiative to combat insurance fraud, which is not always easy to detect, but is a crime, and does lead

More information

Client Bulletin. June 2013 Ministry of Justice Reforms update and practical guidance

Client Bulletin. June 2013 Ministry of Justice Reforms update and practical guidance Client Bulletin June 2013 Ministry of Justice Reforms update and practical guidance This bulletin provides an update to our previous bulletin about the proposed Ministry of Justice Reforms and follows

More information

Conditional Fee Agreement: What You Need to Know

Conditional Fee Agreement: What You Need to Know Conditional Fee Agreement: What You Need to Know This document forms an important part of your agreement with us. Please read it carefully. Definitions of words used in this document and the accompanying

More information

Expert evidence. A guide for expert witnesses and their clients (Second edition)

Expert evidence. A guide for expert witnesses and their clients (Second edition) Expert evidence A guide for expert witnesses and their clients (Second edition) Addendum, June 2009 1. Introduction 1.1 The second edition of this Guide was published in October 2003, in order to set out

More information

The four year assessment evaluating the outcome of The Jackson Review and LASPO on ATE, BTE and more. Tony Buss, Managing Director ARAG (UK)

The four year assessment evaluating the outcome of The Jackson Review and LASPO on ATE, BTE and more. Tony Buss, Managing Director ARAG (UK) The four year assessment evaluating the outcome of The Jackson Review and LASPO on ATE, BTE and more Tony Buss, Managing Director ARAG (UK) 1 Comments on Jackson [The Government s] are seeking to strike

More information

Proposals for Reform of Civil Litigation Funding and Costs in England and Wales

Proposals for Reform of Civil Litigation Funding and Costs in England and Wales Proposals for Reform of Civil Litigation Funding and Costs in England and Wales Consultation Paper Response of JUSTICE February 2011 Q 1 Do you agree that CFA success fees should no longer be recoverable

More information

CONSUMER INSURANCE LAW: PRE-CONTRACT DISCLOSURE AND MISREPRESENTATION

CONSUMER INSURANCE LAW: PRE-CONTRACT DISCLOSURE AND MISREPRESENTATION THE LAW COMMISSION AND THE SCOTTISH LAW COMMISSION CONSUMER INSURANCE LAW: PRE-CONTRACT DISCLOSURE AND MISREPRESENTATION Joint Report SUMMARY 1.1 The English and Scottish Law Commissions recommend new

More information

GADSBY WICKS SOLICITORS EXPLANATION OF LEGAL TERMS

GADSBY WICKS SOLICITORS EXPLANATION OF LEGAL TERMS EXPLANATION OF LEGAL TERMS Affidavit: After the event litigation insurance: Application notice: Bar Council: Barrister: Basic Charges: Before the Event Legal Expenses Insurance: Bill of costs: Bolam test:

More information

Paper in response to the issues raised in the Panel on Administration of Justice and Legal Services meeting on 26 April 2004

Paper in response to the issues raised in the Panel on Administration of Justice and Legal Services meeting on 26 April 2004 LC Paper No. CB(2)2582/03-04(01) Paper in response to the issues raised in the Panel on Administration of Justice and Legal Services meeting on 26 April 2004 Review of Professional Indemnity Scheme of

More information

Cost of Preferred (or more likely) Option Net cost to business per year (EANCB on 2009 prices) 0m N/A N/A No N/A

Cost of Preferred (or more likely) Option Net cost to business per year (EANCB on 2009 prices) 0m N/A N/A No N/A Dismissal of personal injury claims involving fundamental dishonesty IA No: MoJ 021/2014 Lead department or agency: Ministry of Justice Other departments or agencies: Impact Assessment (IA) Date: 6 June

More information

The New CFA and DBA Regime. Simon Edwards

The New CFA and DBA Regime. Simon Edwards The New CFA and DBA Regime Simon Edwards CFAs post 1 April 2013 Section 58A (6) Courts and Legal Services Act 1990 (CLSA) provides that a costs order made in proceedings may not include provision requiring

More information

Whether the government is correct in describing the UK as the whiplash capital of the world

Whether the government is correct in describing the UK as the whiplash capital of the world Whiplash and the cost of motor insurance: what s behind the insurance industry claims Submission to the Transport Committee by Thompsons Solicitors April 2013 About Thompsons Thompsons is the UK s most

More information

Congratulations... ...and thank you for buying a Motoring First policy.

Congratulations... ...and thank you for buying a Motoring First policy. 2 Congratulations......and thank you for buying a Motoring First policy. This document explains exactly what is covered by Licence Shield, how to make a claim, important contact details and much more.

More information

CLAIMSadvisor. Employers & Public Liability Claims Jackson Reforms update. Background. Key changes post 1 April 2013

CLAIMSadvisor. Employers & Public Liability Claims Jackson Reforms update. Background. Key changes post 1 April 2013 CLAIMSadvisor RISK PRACTICE JULY 2013 Employers & Public Liability Claims Jackson Reforms update We recently provided an overview of the Jackson Reforms and the key changes in relation to Employers Liability

More information

Update from UK asbestos and deafness working parties Robert Brooks, Brian Gravelsons and Gabriela Macra

Update from UK asbestos and deafness working parties Robert Brooks, Brian Gravelsons and Gabriela Macra Update from UK asbestos and deafness working parties Robert Brooks, Brian Gravelsons and Gabriela Macra 02 May 2013 Agenda Update from the UK asbestos working party Background and Introduction Recap on

More information

Mitigating and managing cyber risk: ten issues to consider

Mitigating and managing cyber risk: ten issues to consider Mitigating and managing cyber risk: ten issues to consider The board of directors is responsible for managing and mitigating risk exposure. A recent study conducted by the Ponemon Institute 1 revealed

More information

OUTLOOK: PERSPECTIVES ON TOPICAL RISK AND INSURANCE ISSUES FOR UK CORPORATES

OUTLOOK: PERSPECTIVES ON TOPICAL RISK AND INSURANCE ISSUES FOR UK CORPORATES June 2013 MARSH INSIGHTS: OUTLOOK: PERSPECTIVES ON TOPICAL RISK AND INSURANCE ISSUES FOR UK CORPORATES Over recent months we have profiled several developments in relation to insurance claims specifically

More information

Cyber and data Policy wording

Cyber and data Policy wording Please read the schedule to see whether Breach costs, Cyber business interruption, Hacker damage, Cyber extortion, Privacy protection or Media liability are covered by this section. The General terms and

More information

Legal Watch What s on the horizon

Legal Watch What s on the horizon Legal Watch What s on the horizon January 2014 Introduction Welcome to the first joint Plexus/Greenwoods review of what the next quarter holds for those involved in personal injury claims. In This Issue:

More information

Council Tax Reduction Anti-Fraud Policy

Council Tax Reduction Anti-Fraud Policy Council Tax Reduction Anti-Fraud Policy Richard Davies Head of Revenues and Benefits, Torfaen Head of Benefits, Monmouthshire April 2015 1 Contents Section 1. 3 Background 3 Legislation and Governance

More information

Welcome: The Zurich Jackson & MOJ Reforms Webinar will begin shortly Mojhelpline@uk.zurich.com

Welcome: The Zurich Jackson & MOJ Reforms Webinar will begin shortly Mojhelpline@uk.zurich.com Welcome: The Zurich Jackson & MOJ Reforms Webinar will begin shortly If you do not get a chance to raise a question during the Webinar, you can use our MOJ advice centre, simply e mail your query to: Mojhelpline@uk.zurich.com

More information

Conditional Fee Agreement ( CFA ) [For use in personal injury and clinical negligence cases only].

Conditional Fee Agreement ( CFA ) [For use in personal injury and clinical negligence cases only]. Disclaimer This model agreement is not a precedent for use with all clients and it will need to be adapted/modified depending on the individual clients circumstances and solicitors business models. In

More information

CASE TRACK LIMITS AND THE CLAIMS PROCESS FOR PERSONAL INJURY CLAIMS

CASE TRACK LIMITS AND THE CLAIMS PROCESS FOR PERSONAL INJURY CLAIMS CASE TRACK LIMITS AND THE CLAIMS PROCESS FOR PERSONAL INJURY CLAIMS A consultation paper produced by the Department for Constitutional Affairs RESPONSE BY THE LAW SOCIETY OF ENGLAND AND WALES July 2007

More information

FIXED RECOVERABLE COSTS IN CLINICAL NEGLIGENCE PRE CONSULTATION RESPONSE BY. Action against Medical Accidents

FIXED RECOVERABLE COSTS IN CLINICAL NEGLIGENCE PRE CONSULTATION RESPONSE BY. Action against Medical Accidents FIXED RECOVERABLE COSTS IN CLINICAL NEGLIGENCE PRE CONSULTATION RESPONSE BY Action against Medical Accidents Questionnaire The Government proposes to introduce fixed recoverable costs for all cases where

More information

A response by the Association of Personal Injury Lawyers March 2014

A response by the Association of Personal Injury Lawyers March 2014 Civil Justice Council The impact of the Jackson reforms on costs and case management A response by the Association of Personal Injury Lawyers March 2014 Page 1 of 10 Introduction 1. 2013 brought major

More information

PROFESSIONAL INDEMNITY FOR ARCHITECTS AND CONSULTING ENGINEERS. Policy Summary

PROFESSIONAL INDEMNITY FOR ARCHITECTS AND CONSULTING ENGINEERS. Policy Summary PROFESSIONAL INDEMNITY FOR ARCHITECTS AND CONSULTING ENGINEERS Policy Summary 2 Professional Indemnity for Architects and Consulting Engineers Policy Summary PROFESSIONAL INDEMNITY FOR ARCHITECTS AND CONSULTING

More information

EXPLANATORY MEMORANDUM TO THE CONDITIONAL FEE AGREEMENTS (AMENDMENT) ORDER 2010. 2010 No. [Draft]

EXPLANATORY MEMORANDUM TO THE CONDITIONAL FEE AGREEMENTS (AMENDMENT) ORDER 2010. 2010 No. [Draft] EXPLANATORY MEMORANDUM TO THE CONDITIONAL FEE AGREEMENTS (AMENDMENT) ORDER 2010 2010 No. [Draft] 1. This explanatory memorandum has been prepared by the Ministry of Justice and is laid before Parliament

More information

PERSONAL INJURIES BAR ASSOCIATION STANDARD TERMS AND CONDITIONS TREATED AS ANNEXED TO THE CONDITIONAL FEE AGREEMENT BETWEEN SOLICITOR AND COUNSEL

PERSONAL INJURIES BAR ASSOCIATION STANDARD TERMS AND CONDITIONS TREATED AS ANNEXED TO THE CONDITIONAL FEE AGREEMENT BETWEEN SOLICITOR AND COUNSEL PERSONAL INJURIES BAR ASSOCIATION STANDARD TERMS AND CONDITIONS TREATED AS ANNEXED TO THE CONDITIONAL FEE AGREEMENT BETWEEN SOLICITOR AND COUNSEL FOR USE AFTER 31 JANUARY 2013 PLEASE NOTE: THESE TERMS

More information

Covering Disease costs NIHL and pre-action disclosure date. Part 36 offers in multi-defendant cases and quantum in mesothelioma claims

Covering Disease costs NIHL and pre-action disclosure date. Part 36 offers in multi-defendant cases and quantum in mesothelioma claims This is the first of our revamped monthly updates with its focus on disease issues. The aim is to provide a quick snapshot of topical issues and recent cases for the busy Disease Practitioner. We always

More information

Technical claims brief

Technical claims brief QBE European Operations Technical claims brief Monthly update June 2015 Technical claims brief Monthly update June 2015 Contents FCA sets out their findings after looking at delegated authority arrangements

More information

LEGAL GUIDE TO RECOVERING A TRADE DEBT

LEGAL GUIDE TO RECOVERING A TRADE DEBT LEGAL GUIDE TO RECOVERING A TRADE DEBT Howat Avraam Solicitors A: 154 160 FLEET STREET, LONDON, EC4A 2DQ T: 020 7884 9400 E: Matthew.Howat@hasolicitors.co.uk Unpaid invoicing is a fact of life for most

More information

FIXED COSTS PART 45. Contents of this Part

FIXED COSTS PART 45. Contents of this Part FIXED COSTS PART 45 PART 45 Contents of this Part I FIXED COSTS Rule 45.1 Scope of this Section Rule 45.2 Amount of fixed commencement costs in a claim for the recovery of money or goods Rule 45.2A Amount

More information

TEMPLE LITIGATION ADVANTAGE INSURANCE FOR DISBURSEMENTS AND OPPONENT S COSTS Certificate of Insurance

TEMPLE LITIGATION ADVANTAGE INSURANCE FOR DISBURSEMENTS AND OPPONENT S COSTS Certificate of Insurance TEMPLE LITIGATION ADVANTAGE INSURANCE FOR DISBURSEMENTS AND OPPONENT S COSTS Certificate of Insurance In return for the payment of the Premium specified in the Schedule and based on any Information that

More information

Motor Legal Expenses Insurance

Motor Legal Expenses Insurance Motor Legal Expenses Insurance Motor Legal Expenses Insurance Policy Document Certificate of Insurance This insurance is underwritten by Inter Partner Assistance SA and managed on their behalf by Arc Legal

More information

Technical claims brief

Technical claims brief QBE European Operations Technical claims brief Monthly update January/February 2014 Technical claims brief Monthly update January/February 2014 Contents Legislation 1 Mesothelioma Bill passes at report

More information

late payment The Late Payment of Commercial Debts (Interest) Act 1998: A User s Guide

late payment The Late Payment of Commercial Debts (Interest) Act 1998: A User s Guide late payment The Late Payment of Commercial Debts (Interest) Act 1998: A User s Guide Index Introduction The importance of prompt payment Legal Warning Section 1: Understanding the legislation What is

More information

DBA Regulations. My understanding of the decisions that have been made and questions that may arise are:

DBA Regulations. My understanding of the decisions that have been made and questions that may arise are: DBA Regulations I have considered the Damages Based Agreements Regulations and the manner in which they may be re written for the purposes of including DBA's for all claims over and above employment matters.

More information

DEPARTMENT OF HEALTH FIXED RECOVERABLE COSTS PROPOSALS FOR CLINICAL NEGLIGENCE: Implications for patients access to justice and for patient safety

DEPARTMENT OF HEALTH FIXED RECOVERABLE COSTS PROPOSALS FOR CLINICAL NEGLIGENCE: Implications for patients access to justice and for patient safety DEPARTMENT OF HEALTH FIXED RECOVERABLE COSTS PROPOSALS FOR CLINICAL NEGLIGENCE: Implications for patients access to justice and for patient safety Briefing by Action against Medical Accidents (AvMA) October

More information

Response to Insurance Contracts Amendment Bill 2013. December 2012. Submission on behalf of Legal Aid NSW. Consumer Action Law Centre,

Response to Insurance Contracts Amendment Bill 2013. December 2012. Submission on behalf of Legal Aid NSW. Consumer Action Law Centre, Response to Insurance Contracts Amendment Bill 2013 December 2012 Submission on behalf of Legal Aid NSW Consumer Action Law Centre, Insurance Law Service & Consumer Representatives to Treasury Introduction

More information

Conditional Fee Agreement (CFA)

Conditional Fee Agreement (CFA) Conditional Fee Agreement (CFA) This agreement is a binding legal contract between you and your solicitor/s. Before you sign, please read everything carefully. This agreement must be read in conjunction

More information

CIVIL JUSTICE COUNCIL THE IMPACT OF THE JACKSON REFORMS ON COSTS AND CASE MANAGEMENT

CIVIL JUSTICE COUNCIL THE IMPACT OF THE JACKSON REFORMS ON COSTS AND CASE MANAGEMENT Introduction CIVIL JUSTICE COUNCIL THE IMPACT OF THE JACKSON REFORMS ON COSTS AND CASE MANAGEMENT Submission by the Motor Accident Solicitors Society (MASS) March 2014 1. This response is prepared on behalf

More information

THE JACKSON REFORMS. Lord Justice Jackson s review of Civil litigation costs and the impact on insurers. Nicola Billen. The Jackson Reforms

THE JACKSON REFORMS. Lord Justice Jackson s review of Civil litigation costs and the impact on insurers. Nicola Billen. The Jackson Reforms THE JACKSON REFORMS Lord Justice Jackson s review of Civil litigation costs and the impact on insurers Nicola Billen The Jackson Reforms The current civil justice system Costs generally Funding models

More information

MOTOR LEGAL EXPENSES POLICY WORDING TERMS OF COVER

MOTOR LEGAL EXPENSES POLICY WORDING TERMS OF COVER Motor Legal Expenses provides:- 24/7 Legal Advice Insurance for legal costs for certain types of disputes HELPLINE SERVICES Legal Helpline MOTOR LEGAL EXPENSES Use the 24 hour advisory service for telephone

More information

Knowledge. Practical guide to competition damages claims in the UK

Knowledge. Practical guide to competition damages claims in the UK Knowledge Practical guide to competition damages claims in the UK Practical guide to competition damages claims in the UK Contents Reforms to damages litigation in the UK for infringements of competition

More information

Management liability - Directors and officers liability Policy wording

Management liability - Directors and officers liability Policy wording Special definitions for this section Bail costs Claim Defence costs The General terms and conditions and the following terms and conditions all apply to this section. Costs incurred with our prior written

More information

The Impact of the Jackson Reforms on Costs and Case Management

The Impact of the Jackson Reforms on Costs and Case Management The Impact of the Jackson Reforms on Costs and Case Management Civil Justice Council Conference 21 st March 2014 Written Submission of the Law Society The Law Society 2014 Page 1 of 9 2014 The Law Society.

More information

Bar Council response to the Reducing Legal Costs in Clinical Negligence Claims pre-consultation paper

Bar Council response to the Reducing Legal Costs in Clinical Negligence Claims pre-consultation paper Bar Council response to the Reducing Legal Costs in Clinical Negligence Claims pre-consultation paper 1. This is the response of the General Council of the Bar of England and Wales (the Bar Council) to

More information

Mesothelioma compensation: amending the Financial Services Compensation Scheme Summary of responses. November 2006

Mesothelioma compensation: amending the Financial Services Compensation Scheme Summary of responses. November 2006 Mesothelioma compensation: amending the Financial Services Compensation Scheme Summary of responses November 2006 Mesothelioma compensation: amending the Financial Services Compensation Scheme Summary

More information

Professional Indemnity Select

Professional Indemnity Select Allianz Insurance plc Professional Indemnity Select Policy Overview Policy Overview Professional Indemnity Select Contents Thank you for choosing Allianz Insurance plc. We are one of the largest general

More information

Professional Indemnity Select

Professional Indemnity Select Allianz Insurance plc Professional Indemnity Select Cover Overview Professional Indemnity Select Cover Overview Contents Thank you for choosing Allianz Insurance plc. We are one of the largest general

More information

Surveyors Professional Liability Insurance Summary

Surveyors Professional Liability Insurance Summary Surveyors Professional Liability Surveyors Professional Liability Underwritten by a member of the QBE Insurance Group (QBE) This insurance is an annual contract unless stated otherwise in the quotation

More information

Conditional Fee Agreement: What You Need to Know

Conditional Fee Agreement: What You Need to Know Conditional Fee Agreement: What You Need to Know This document forms an important part of your agreement with us. Please read it carefully. Definitions of words used in this document and the accompanying

More information

Risks in International Consultancy Appointments: The FIDIC White Book

Risks in International Consultancy Appointments: The FIDIC White Book Risks in International Consultancy Appointments: The FIDIC White Book An increasing number of UK based consultants are involved in international projects. Given the forecasted growth in global construction

More information

PROFESSIONAL INDEMNITY INSURANCE FOR PROPERTY PROFESSIONALS. Policy Summary

PROFESSIONAL INDEMNITY INSURANCE FOR PROPERTY PROFESSIONALS. Policy Summary PROFESSIONAL INDEMNITY INSURANCE FOR PROPERTY PROFESSIONALS Policy Summary 2 Professional Indemnity Insurance for Property Professionals Policy Summary PROFESSIONAL INDEMNITY INSURANCE FOR PROPERTY PROFESSIONALS

More information

Lord Justice Jackson s Review of Civil Litigation Costs

Lord Justice Jackson s Review of Civil Litigation Costs Lord Justice Jackson s Review of Civil Litigation Costs The eagerly awaited report of Lord Justice Jackson has now been published with the objective to carry out an independent review of the rules and

More information

Conditional Fee Arrangements, After the Event Insurance and beyond!

Conditional Fee Arrangements, After the Event Insurance and beyond! Conditional Fee Arrangements, After the Event Insurance and beyond! CFAs, ATEs, DBAs Let s de-mystify the acronyms! 1. Conditional Fee Arrangements 1.1. What is a Conditional Fee Arrangement A conditional

More information

Mesothelioma Act 2014

Mesothelioma Act 2014 Mesothelioma Act 2014 CHAPTER 1 Explanatory Notes have been produced to assist in the understanding of this Act and are available separately 5.75 Mesothelioma Act 2014 CHAPTER 1 CONTENTS Diffuse Mesothelioma

More information

Clinical Negligence. Investigating Your Claim

Clinical Negligence. Investigating Your Claim www.lees.co.uk Clinical Negligence Investigating Your Claim Lees Solicitors LLP 44/45 Hamilton Square Birkenhead Wirral CH41 5AR Tel: 0151 647 9381 Fax: 0151 649 0124 e-mail: newclaim@lees.co.uk 1 The

More information

Professional indemnity Summary of cover

Professional indemnity Summary of cover Professional indemnity Summary of cover Architects & Engineers October 2014 Why choose AXA s Architects & Engineers Professional indemnity insurance? AXA s Architects & Engineers Professional indemnity

More information

www.bonddickinson.com Cyber Risks October 2014 2

www.bonddickinson.com Cyber Risks October 2014 2 www.bonddickinson.com Cyber Risks October 2014 2 Why this emerging sector matters Justin Tivey Legal Director T: +44(0)845 415 8128 E: justin.tivey The government estimates that the current cost of cyber-crime

More information

ICSA Guidance on Protection against Directors and Officers Liabilities Indemnities and Insurance

ICSA Guidance on Protection against Directors and Officers Liabilities Indemnities and Insurance ICSA Guidance on Protection against Directors and Officers Liabilities Indemnities and Insurance Contents If using online, click on the headings below to go to the related sections. 1. Introduction 2.

More information

2015 No. 0000 FINANCIAL SERVICES AND MARKETS. The Small and Medium Sized Business (Finance Platforms) Regulations 2015

2015 No. 0000 FINANCIAL SERVICES AND MARKETS. The Small and Medium Sized Business (Finance Platforms) Regulations 2015 Draft Regulations to illustrate the Treasury s current intention as to the exercise of powers under clause 5 of the Small Business, Enterprise and Employment Bill. D R A F T S T A T U T O R Y I N S T R

More information

CIVIL JUSTICE ANNUAL REVIEW

CIVIL JUSTICE ANNUAL REVIEW LEGAL AFFAIRS AND POLICY BOARD 28 th April 2015 Item 5.5 Classification - Public Purpose For Information CIVIL JUSTICE ANNUAL REVIEW The Issues The attached paper sets out the major areas of work undertaken

More information

Professional Indemnity Insurance Glossary of Terms

Professional Indemnity Insurance Glossary of Terms Professional Indemnity Insurance Glossary of Terms Index Aggregation of claims Automatic reinstatement Average provision Cancellation Civil liability Claim Claims made Consumer protection legislation Continuous

More information

COMMERCIAL LEGAL PROTECTION BUSINESS LEGAL PROTECTION & ADVICE POLICY SUMMARY BROCHURE

COMMERCIAL LEGAL PROTECTION BUSINESS LEGAL PROTECTION & ADVICE POLICY SUMMARY BROCHURE COMMERCIAL LEGAL PROTECTION BUSINESS LEGAL PROTECTION & ADVICE POLICY SUMMARY BROCHURE WHY YOUR COMPANY NEEDS IT INTRODUCTION The cost of defending your company s legal rights is increasing, with few companies

More information

Audit Committee. Directors Report. Gary Hughes Chairman, Audit Committee. Gary Hughes Chairman, Audit Committee

Audit Committee. Directors Report. Gary Hughes Chairman, Audit Committee. Gary Hughes Chairman, Audit Committee Audit Committee Dear Shareholder, We are satisfied that the business has maintained robust risk management and internal controls, supported by strong overall governance processes, and that management have

More information

Octagon Insurance Legal Expenses Policy

Octagon Insurance Legal Expenses Policy Octagon Insurance Legal Expenses Policy 1 2 This Octagon insurance policy is underwritten by Inter Partner Assistance SA and administered on their behalf by Arc Legal Assistance Limited. The following

More information

TERMS OF BUSINESS AGREEMENT - INSURANCE BROKING

TERMS OF BUSINESS AGREEMENT - INSURANCE BROKING 1. BROKER INFORMATION TERMS OF BUSINESS AGREEMENT - INSURANCE BROKING Stephenson s (2000) Ltd T/As Cooke & Mason, Manor House 3 Low Moor Road Lincoln LN6 3JY is an independent Chartered Insurance Broker.

More information

Consultation Document. Extension of the RTA scheme to include employers and public liability claims up to the value of 25,000

Consultation Document. Extension of the RTA scheme to include employers and public liability claims up to the value of 25,000 Consultation Document Extension of the RTA scheme to include employers and public liability claims up to the value of 25,000 Response from: British Vehicle Rental and Leasing Association River Lodge Badminton

More information

PROFESSIONAL INDEMNITY. Policy summary

PROFESSIONAL INDEMNITY. Policy summary PROFESSIONAL INDEMNITY Policy summary 2 Professional Indemnity Policy Summary Professional Indemnity Policy Summary This policy is an annually renewable Professional Indemnity insurance, underwritten by

More information

Standard conditions of purchase

Standard conditions of purchase Standard conditions of purchase 1 OFFER AND ACCEPTANCE 2 PROPERTY, RISK & DELIVERY 3 PRICES & RATES The Supplier shall provide all Goods and Services in accordance with the terms and conditions set out

More information

Medical Negligence. A guide for clients. The team provides a first class service at all levels of experience. The Legal 500

Medical Negligence. A guide for clients. The team provides a first class service at all levels of experience. The Legal 500 www.ffw.com/personalinjury Freephone 0800 358 3848 www.ffw.com/personalinjury Freephone 0800 358 3848 Medical Negligence A guide for clients The team provides a first class service at all levels of experience.

More information

Complete Professional Indemnity

Complete Professional Indemnity Allianz Insurance plc Complete Professional Indemnity Policy Details (including Policy Summary pages 1 4) Architects Policy Summary This is a Policy Summary only and does not contain full terms and conditions

More information

Charities insurance - trustees and individual liability Policy wording

Charities insurance - trustees and individual liability Policy wording The General terms and conditions and the following terms and conditions all apply to this section. Special definitions for this section Bail costs Claim Crisis containment costs Defence costs Employee

More information

CIVIL JUSTICE COUNCIL (CJC) RESPONSE REDUCING THE NUMBER & COSTS OF WHIPLASH CLAIMS

CIVIL JUSTICE COUNCIL (CJC) RESPONSE REDUCING THE NUMBER & COSTS OF WHIPLASH CLAIMS CIVIL JUSTICE COUNCIL (CJC) RESPONSE REDUCING THE NUMBER & COSTS OF WHIPLASH CLAIMS General The CJC welcomes the opportunity to respond to this consultation. It further welcomes the intention to improve

More information

PRE-ACTION PROTOCOL FOR LOW VALUE PERSONAL INJURY (EMPLOYERS LIABILITY AND PUBLIC LIABILITY) CLAIMS

PRE-ACTION PROTOCOL FOR LOW VALUE PERSONAL INJURY (EMPLOYERS LIABILITY AND PUBLIC LIABILITY) CLAIMS PRE-ACTION PROTOCOL FOR LOW VALUE PERSONAL INJURY (EMPLOYERS LIABILITY AND PUBLIC LIABILITY) CLAIMS Contents SECTION I - INTRODUCTION Definitions Paragraph 1.1 Preamble Paragraph 2.1 Aims Paragraph 3.1

More information

FINANCIAL LINES ACE ELITE PLUS MANAGEMENT LIABILITY INSURANCE

FINANCIAL LINES ACE ELITE PLUS MANAGEMENT LIABILITY INSURANCE FINANCIAL LINES ACE ELITE PLUS MANAGEMENT LIABILITY INSURANCE 00 The ACE Elite Plus Management Liability policy features coverage and benefits designed to address the serious risks confronting private

More information

2015 No. 0000 FINANCIAL SERVICES AND MARKETS. The Small and Medium Sized Businesses (Credit Information) Regulations 2015

2015 No. 0000 FINANCIAL SERVICES AND MARKETS. The Small and Medium Sized Businesses (Credit Information) Regulations 2015 Draft Regulations to illustrate the Treasury s current intention as to the exercise of powers under clause 4 of the the Small Business, Enterprise and Employment Bill. D R A F T S T A T U T O R Y I N S

More information

ATTORNEY GENERAL S GUIDELINES ON PLEA DISCUSSIONS IN CASES OF SERIOUS OR COMPLEX FRAUD

ATTORNEY GENERAL S GUIDELINES ON PLEA DISCUSSIONS IN CASES OF SERIOUS OR COMPLEX FRAUD ATTORNEY GENERAL S GUIDELINES ON PLEA DISCUSSIONS IN CASES OF SERIOUS OR COMPLEX FRAUD A FOREWORD A1. These Guidelines set out a process by which a prosecutor may discuss an allegation of serious or complex

More information

Asbestos Disease Claims

Asbestos Disease Claims Asbestos Disease Claims A client s guide Spring 2007 Contents 2. Essential elements for a successful claim 3. What we will do 3. Funding the case 3. Preliminary investigations 4. What happens next? 4.

More information

Major UK Government Proposals on Reform of Litigation Costs and Funding

Major UK Government Proposals on Reform of Litigation Costs and Funding Major UK Government Proposals on Reform of Litigation Costs and Funding Dr Christopher Hodges Head of the CMS Research programme on Civil Justice Systems Centre for Socio-Legal Studies University of Oxford

More information

ASSOCIATION OF PERSONAL INJURY LAWYERS Standard of competence for Portal Claims Handlers

ASSOCIATION OF PERSONAL INJURY LAWYERS Standard of competence for Portal Claims Handlers ASSOCIATION OF PERSONAL INJURY LAWYERS Standard of competence for Portal Claims Handlers INTRODUCTION Standards of occupational competence Standards of occupational competence are widely used in many fields

More information