Publication | August 2016
In this edition of Insurance Focus we consider the likely impact of the referendum vote in the United Kingdom to leave the European Union. After over forty years within the European bloc, how will ‘Brexit’, impact the London insurance market?
We also consider the potential for growth in Africa’s speciality lines for those insurers willing to enter the region.
Finally we review some new claims trends linked to new technology and changing social behaviours – including the rise of thefts of ‘hipster’ pets.
In our case notes section we review a landmark German decision on loss adjustments services undertaken by insurance brokers; an Australian case on the timing of a cause of action for non-payment; a recent decision from the Court of Appeal in England and Wales concerning aggregation wording; a review of the impact of the recent decision of the Italian Supreme Court concerning claims made clauses and finally a tragic case reaffirming that the frailty of an injured person will not proffer a defence in civil liability.
We also include international regulatory developments.
The global reaction to the initial outbreak of the coronavirus in Wuhan City, China in December 2019 has already had devastating effects in Queensland, particularly on the tourism industry, with the Queensland Premier recently estimating that the Cairns region alone has lost $200 million in forward bookings, and Gold Coast operators were expecting to lose $400 million.
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