Insurance focus - July 2017

Publication July 2017

In this edition of Insurance Focus, we have asked colleagues across the firm to describe the issues that they think are having the greatest impact on their local insurance industry. Technology and the rise of InsurTech are common factors having an effect on insurers as is the growing demand for cyber cover as attacks become more frequent. In a number of countries, increased regulation and costs of compliance are the main factors changing the operational landscape.

We consider changes to the minimum corporate governance standards for Hong Kong based insurers and review the impact of “nil-recourse” M&A deals on the warranty and indemnity insurance market.

We also provide a review by marine insurance lawyer WenHao Han of the recent Gard Marine decision by the UK Supreme Court, while UK Court of Appeal decision Ashfaq raises interesting questions about the blurred lines between acting as a consumer or a business and the resulting impact on coverage.

Contents

 What’s on the horizon for the insurance industry?   Nil recourse transactions from a W&I claims perspective   Hong Kong Insurance Authority changes guidance on governance – what you and your board need to know   Case notes   Norton Rose Fulbright and R3 launch white paper on application of blockchain and distributed ledger technology in the insurance sector  


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