16 February 2018
Wrongful acts do not have to be unintentional for cover to apply
The Full Federal Court has confirmed that loss resulting from a policyholder’s deliberate decision to leave a construction site was a “wrongful act” covered by a professional indemnity policy, despite the fact that it was not unintentional.
05 February 2018
Brexit 'The view from Brussels' – developments in January
January was dominated by the strikingly public discussion of the content of the next supplement to the negotiating guidelines that the European Council finally adopted on 29 January. We discuss some features of these guidelines and their significance for the negotiations below. There was also much...
22 November 2017
Be specific when it comes to project insurance
A recent decision of the New South Wales Supreme Court reminds us of importance of carefully documenting the intended relationships and hierarchy between a project-specific insurance policy and the insurance policies which are held by the various participants in the project. 1
13 September 2017
Policyholder recovers agreed value of loss despite potential for ‘over-compensation’
The NSW Supreme Court has allowed a policyholder to recover an agreed value of loss, notwithstanding that it may have been ‘over-compensated’ for the loss actually suffered. The Court also ordered interest to be paid on the unpaid claim from the date the insurer declined indemnity. As a...
18 August 2017
Frictionless trade? UK-EU customs relations post-Brexit
On 15 and 16 August 2017 the UK Government published two papers setting out its proposals for UK-EU customs relations post-Brexit. While these papers contain the greatest amount of detail to date in relation to the Government's thinking, they do of course only represent the start of the...
08 August 2017
FCA consults on extending the SMCR to insurance intermediaries
The FCA has published proposals to extend the Senior Managers and Certification Regime (SMCR), which already applies to banks, to other financial services firms. The new rules, which are designed to make individuals more accountable for their actions, will affect insurance intermediaries and their...
29 June 2017
General Counsel Update, June 2017
This is the latest in our series of general counsel updates which aim to summarise major developments in key areas. Please see a summary of contents below and you can click download above for a full copy. For more information, please contact Simone Pearlman , Editor.
13 June 2017
Policyholder recovers costs of ‘voluntary’ remediation works
The NSW Supreme Court has granted coverage to a policyholder for the costs of ‘voluntarily’ remediating accidental damage (contamination) to adjacent land, on the basis that it would have been liable to pay damages that would have been covered by the policy had it not remedied the damage.
07 June 2017
Qatar - diplomatic ties severed: implications for business
On Monday 5 June 2017, Saudi Arabia, the United Arab Emirates ("UAE"), Egypt and Bahrain announced that they would sever diplomatic ties with, and cut off transport links to, Qatar. Saudi Arabia, the UAE, Bahrain and Egypt closed transport links with Qatar from Tuesday 6 June 2017. Effective from...
12 April 2017
Policyholders may still secure cover despite non-disclosure
If a policyholder fails to disclose information they could reasonably be expected to know to be relevant to the risk for which they are seeking insurance, the insurer may reduce its liability in the claim to the extent it has been prejudiced by the non-disclosure.
05 September 2019
Industry engagement essential to success of ‘gateway’ model for energy sector CDR
The ACCC’s selection of a ‘gateway’ model as the preferred data access model for implementation of the Consumer Data Right ( CDR ) in the energy sector is anticipated to align to the preferences of incumbent energy sector participants, but may not fully meet the expectations of potential new market...
04 September 2019
Maximising Privilege Protection under US and English Law
When learning of a potential criminal or regulatory issue – whether through receipt of an information request from the authorities or through an internal mechanism – a firm will usually conduct an internal investigation, whose purpose is to understand the scope of the issue, remediate the problem...
03 September 2019
The Decision Analysis team at Herbert Smith Freehills, led by Alex Oddy and Donny Surtani, have developed processes and tools to help evaluate risk in dispute situations and support clients in their decision-making. The team uses specialist software to analyse and visualise the risks inherent in a...
02 September 2019
One Step Forward for Battery-powered Electric Vehicles in Indonesia
On 8 August 2019, Indonesia’s President signed the country’s first regulation on electric vehicles – Presidential Regulation No. 55 of 2019 on the Acceleration Program for Battery-powered Electric Vehicles for Road Transportation (“ PR 55/2019 ”). PR 55/2019 reflects the government’s twin ambitions...
30 August 2019
The Rise of Super Apps in Indonesia
With its high internet penetration and being arguably the fastest growing market for smartphones in Southeast Asia, Indonesia has become a key market for e-commerce and other digital platforms in the region. While such platforms started by offering mainly consumer goods, they have begun to...
30 August 2019
Director recommendations in schemes revisited
We previously reported on suggestions by Courts that target directors who will receive a bonus on the implementation of a scheme of arrangement should not make a recommendation to shareholders as to how to vote. 1 A recent decision rejects those suggestions and emphasises that the law ordinarily...
30 August 2019
Ramping Reprimand: ASX issues latest disclosure caution
Listed companies should be aware that “ramping” announcements are on the ASX’s radar. Companies risk suspension from trading if the ASX considers that they have released announcements that are designed to “ramp” up their share price rather than to inform the market.