London office advises Wildfire Defense Systems on new Lloyd’s syndicate-in-a-box for California wildfire protection

Global law firm Norton Rose Fulbright has advised Wildfire Defense Systems (WDS) on the establishment of the Wildfire Defense Syndicate 1996 (WDS Syndicate), providing an additional Lloyd’s option for businesses in California requiring insurance against wildfires.

The WDS Syndicate, which commenced underwriting on July 1, 2023, is managed by Polo Managing Agency Limited and will focus on providing excess and surplus lines property insurance for California wildfire exposed commercial risks.

The WDS Syndicate has been launched as a syndicate-in-a-box, a new structure created by Lloyd’s to allow smaller, entrepreneurial businesses to become part of the Lloyd’s insurance market without having to contend with regulatory and financial conditions designed with much larger insurance businesses in mind.

The structure enables the WDS Syndicate to write risks of a more substantial nature, enabling it to help keep California businesses in operation, protect them from loss, provide for business continuity and reduce the wildfire economic impact to society. 

The Norton Rose Fulbright team was led by Partner Nicholas Berry with assistance from Counsel Simon Baker, Senior Associate David Bartlett, Associate Jess Bruneau and Trainee Solicitor Kimberly Stiegler. In addition, Partner Josh Tod advised WDS on investment-related matters.

The firm’s London corporate and regulatory insurance practice is Tier 1 ranked by Chambers and The Legal 500. Its global lawyers advise many of the world’s most well-known industry participants on their most significant corporate, regulatory and transactional matters, as well as on complex claims, class actions, disputes and investigations. The team works with a wide range of industry participants including agencies and brokerages, captives, private equity funds, property and casualty insurers, professional malpractice insurers, reinsurers, surplus lines companies and self-funded alternative risk organizations.