Read our assessment of the key lessons for insurance policyholders based on last year’s top cases and market developments.
This unique publication focuses on business implications and learnings for insurance policyholders, including:
- COVID-19 insurance claims continue to develop: a variety of claims for COVID-19 related business interruption are currently ongoing. In this publication we consolidate the current updates and thinking on this topic and give guidance on what steps policyholders should be considering.
- The insurance market continues to harden: all major lines of business insurance are hardening – in particular, ‘Side C’ D&O cover is becoming more expensive and difficult to obtain due to the proliferation of shareholder class actions. Policyholders are increasingly considering the value which is being obtained from this kind of risk transfer and what alternative forms of risk management are available.
- Delays and coverage disputes affect major claims: coverage disputes for major claims are on the rise and policyholders can expect insurers to be engaging specialist advisers early. Policyholders should incorporate resistance from insurers into their recovery planning, seek advice on hard claims before giving up, and seek advice early in developing a strategy for the claim so as to avoid delays.
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The contents of this publication are for reference purposes only and may not be current as at the date of accessing this publication. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication.
© Herbert Smith Freehills 2021