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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by Reynolds Porter Chamberlain LLP

View the listing for Reynolds Porter Chamberlain LLP

Cancelling insurance: insolvency and downgrade clauses

March 2009 - Insurance. Legal Developments by Reynolds Porter Chamberlain LLP.

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One of the most common concerns for both parties to an insurance contract (including reinsurance) is that the other party might become insolvent and unable to perform its obligations under the contract. Both insurer and insured will therefore wish to have the right to cancel the insurance mid-term in the event of the other party’s insolvency, or a change in its financial circumstances that makes its insolvency a more likely prospect in the near future.

Extending cover: notification of circumstances

March 2009 - Insurance. Legal Developments by Reynolds Porter Chamberlain LLP.

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The recent Court of Appeal decision in HLB Kidsons (a firm) v Lloyd’s Underwriters subscribing to Lloyd’s policy No 621/PK1D00101 & ors [2008] illustrates that companies and their officers must be careful to notify their insurers of circumstances that may, or are likely to, give rise to claims strictly in accordance with the relevant policy terms. Otherwise, they may be left without insurance cover for some or all of the claims, when and if they come in. In this article we consider the implications of Kidsons, and flag up the important points to be aware of.

The hidden cost of health and safety regulation

November 2008 - Insurance. Legal Developments by Reynolds Porter Chamberlain LLP.

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While the cost of compensating those injured in workplace accidents is usually eased by general liability insurance, increasingly an additional layer of costs will come from health and safety regulation, and consequent investigations and prosecutions. This article looks at how costs might arise, how legal costs may or may not be covered by liability insurance, and how the ever-increasing focus of enforcement agencies demands the allocation of resources to risk management. In this environment, the financial and administrative burdens of implementing and maintaining efficient health and safety systems can be far less than those of dealing with an accident.