In the current economic climate, insurers are benefitting from access to capital at a lower cost. This means that they are able to offer ever more sophisticated and specialised products for new or emerging risks. Yet even well-worded insurance policies and reinsurance agreements have the potential to create challenges in the application of some claims, particularly where there are doubts on whether the policy should respond or around the allocation of loss between multiple carriers.
Insurance is what we do. We are the UK’s leading risk and insurance lawyers and we consider and advise on insurance and coverage issues on the vast majority of matters we handle for large and specialist insurers, Lloyd’s underwriters, MGAs and brokers. This includes drafting and reviewing policy wordings, advising on policy interpretation, warranties, policy aggregation and the handling of any indemnity issues across all types of policies.
Our coverage experts have an outstanding record of resisting claims by other insurers and policyholders, where this is appropriate and in the commercial interests of clients, and in taking the lead in negative declaratory proceedings. Where market disputes or disputes between cedents and reinsurers arise, we focus on resolving these promptly through ADR, mediation or arbitration.
Our insurance work involves defending claims on behalf of multi-layer subscription markets at Lloyd’s and the wider London Market. We work with clients to support their specific reporting and co-ordination requirements, act as monitoring counsel and advise on reinsurance obligations. At all times, we drive consensus and a productive relationship between lead and other agreement parties as well as appreciating the significance of brokers’ relationships with policyholders and insurers.