ABOUT THE EVENT

The insurance market in the UK is facing significant political and economic uncertainty with Brexit, digital disruption and increasing cyber threats. With so many unknowns, how can insurers and intermediaries prepare for the legal landscape of the future? The Insurance Law Masterclass brings together experts from top law firms to shed light on some of the complexities and challenges facing the insurance industry in coming months. Gain valuable insight into a host of issues from insurance regulation to the latest in cyber risk, drawing on lessons from recent cases and court decisions.

The Insurance Law Masterclass is brought to you by Insurance Business, the world’s largest independent insurance publisher.

WHY ATTEND

  • Understand how the UK and international courts are interpreting emerging cyber threats, claims and disputes
  • Hear expert forecasts on how insurers and intermediaries are preparing for the future of insurance law in the UK
  • Prepare for the future data protection landscape (GDPR)
  • Understand how the Enterprise Act 2016 will impact your business
  • Gain valuable insights on the implications of the The Insurance Act 2015 
  • Engage with your peers through facilitated networking opportunities

 

VENUE

The Grange City is a luxury hotel in London near the River Thames, commanding sweeping views over the Tower of London and the iconic Tower Bridge. Reflecting its historic City location, the hotel site incorporates the last remaining section of London’s Roman Wall – which stands undamaged from when it was originally patrolled by Roman sentries.

     

    View venue details

AGENDA

8:30 am

Registration opens

 

9:00 am

Introductory remarks from the Chairperson

Chairperson:
Terry Renouf, Consultant, BLM Law

 

9:15 am

Panel: Beyond uncertainty – The future of insurance law in the UK
The insurance market in the UK is facing very significant political and economic uncertainty with Brexit, digital disruption and increasing cyber threats. With so many unknowns, how can insurers and intermediaries prepare for the legal landscape of the future?

  • The legal challenges presented by new risks such as driverless cars
  • Predictions about the threat of cyberattacks on insurers
  • Likely implications of Brexit on UK insurance law
  • The regulatory framework of the future: FCA, PRA and ESFS

Panelists:
Bob Haken, Partner, Norton Rose Fulbright 
Adam Levitt, Partner & Co-head of Global Insurance Industry, Ashurst
Pollyanna Deane, Partner, Simmons & Simmons

 

10:15 am

The Insurance Act 2015… nine months on
The Insurance Act 2015 (the Act) has had a significant impact on commercial insurance contracts. In this session, Paul Lewis will review:

  • The impact that the Act is having on policy wordings
  • How much data should insurers really be storing on the insured?
  • How is the new duty of fair presentation impacting the placement process?
  • How will proportionate remedies be applied in practice?
  • How have/will the Courts be interpreting the Act?

Speaker:
Paul Lewis, Partner & Head of Insurance Disputes, Herbert Smith Freehills

 

11:00 am

Morning refreshment break

 

11:30 am

Enterprise Act 2016 – What you need to know
From 4 May 2017, every contract of insurance will have an implied term requiring the insurer to pay sums due within a reasonable time. Failure to do so will entitle the insured to remedies including damages.

  • What amounts to ‘a reasonable time’ under the Act?
  • New sections under the microscope: 13A and 16A, of the Insurance Act 2015
  • Are damages for late payment by insurers resulting from the Enterprise Act 2016 covered by reinsurance?

Speaker:
Jon Turnbull, Consultant, Clyde & Co

 

12:15 pm

Panel: Cyber claims case law review and predictions
With cyber incidents becoming more commonplace, the market for cyber-specific cover is expanding rapidly. How are the UK and international courts interpreting emerging threats, cyber claims and disputes?

  • Overview of expanding cyber trends and the threat landscape
  • Data breach notifications, fines and their potential impact on the outcome of insurance disputes
  • To what extent are insurers liable for the cost of cyber incidents and data breaches suffered by businesses where those companies make claims under general insurance policies?
  • How likely is it that the courts will rule that professional indemnity cover, directors & officers insurance or property risk cover might provide some limited cyber cover?
  • What can we learn from the ‘Yahoo data breach’ (the double data disaster)?
  • The power of words – variations in the interpretation of exclusion clauses

Panelists:
Nick Gibbons, Partner & Cyber Specialist, BLM Law
David Pryce, Managing Director, Fenchurch Law
Hans Allnutt, Partner, DAC Beachcroft

 

1:15 pm

Networking lunch

 

2:15 pm

Insolvency update: Third Parties (Rights against Insurers) Act 2010
Since August 2016, third parties have been able to claim directly against the insurers of insolvent companies, representing a significant change in insolvency cases involving insurance.

  • How have third parties been invoking the Act?
  • What defenses can insurers put into place against risk of adverse court orders for non-compliance?
  • Changes to establishing liability - what does this mean for insurers?
  • Crossover between the obligations of the Insurance Act 2015 and the 2010 Act
  • What constitutes a third party's ‘reasonable belief’ to make a request for information?

Speaker:
Leon Taylor, Partner, Head of UK Insurance Claims, DLA Piper

 

3:00 pm

Insurance regulation update: IDD, PRIIPS and SIMR
The Insurance Distribution Directive (IDD) and Packaged Retail and Insurance-based Investment Products ("PRIIPs") regulations both have ramifications for the insurance industry, which have been complicated by the occurrence of Brexit. The Senior Insurance Managers Regime (SIMR) continues to present challenges to the industry.

  • Given the Brexit vote, will any of the IDD and PRIIPS measures will be implemented in the UK?
  • Will the FCA reverse or modify any of its current regime in light of the IDD?
  • Timeline of the Packaged Retail and Insurance-based Investment Products ("PRIIPs") regulation
  • Predictions about the first UK-domiciled Insurance Linked Securities (ILS) deal
  • Interactions between SIMR Solvency II

Speaker:
Ashley Prebble, Partner, Clifford Chance

 

3:45 pm

Afternoon refreshment break

 

4:15 pm

The future of data protection regulation for the insurance industry in the UK
The GDPR will come into force on 25 May 2018, roughly six months before Brexit and there is uncertainty as to what will replace it. What should insurers and intermediaries be doing today to prepare for the future data protection landscape?

  • Overview of the General Data Protection Regulation (GDPR)
  • Timeline of changes and likely revisions and reforms
  • The practical implications of restrictions on profiling – how to ensure compliance

Speaker:
Ruth Boardman, Partner, Bird & Bird

 

5:00 pm

Close

 

SPEAKERS

HansAllnutt

Hans Allnutt

Partner

DAC Becahcroft

 

RuthBoardman

Ruth Boardman

Partner

Bird & Bird

 

PollyannaDeane

Pollyanna Deane

Partner

Simmons & Simmons

 

NickGibbons

Nick Gibbons

Partner

BLM Law

 

BobHaken

Bob Haken

Partner

Norton Rose Fulbright

 

AdamLevitt

Adam Levitt

Partner & Co-Head of Global Insurance Industry Group

Ashurst

 

PaulLewis

Paul Lewis

Partner

Herbert Smith Freehills

 

AshleyPrebble

Ashley Prebble

Partner

Clifford Chance

 

DavidPryce

David Pryce

Managing Partner

Fenchurch Law

 

TerryRenouf

Terry Renouf

Consultant

BLM Law

 

LeonTaylor

Leon Taylor

Partner, Head of UK Insurance Claims

DLA Piper

 

JonTurnbull

Jon Turnbull

Consultant

Clyde & Co

 

PARTNERS

Brought to you by:

 

Insurance-Business Floodrisk-Partner

 

Keymedia Floodrisk-Partner

 

Online Registration

Terms & Conditions:
One pass admits one person to the event and cannot be split between multiple delegates. If you are unable to attend, a substitute delegate is welcome at no extra charge. Cancellations received in writing 14 or more days in advance will incur a £200 administrative fee. The remaining balance will be refunded to you or issued as credit valid for use towards another Key Media event within 12 months of the date of issuance. The company regrets no refunds will be made less than 14 days prior to the event. Should Key Media cancel or postpone the event, delegates will receive a full refund. Key Media is not responsible for any loss, damage or additional costs incurred as a result of alteration, cancellation or postponement. Please note all speakers and content are confirmed at time of publication, however we reserve the right to modify or alter the program including advertised speakers without notice. Key Media is not liable for the content of any speaker presentations.

ABOUT US

Insurance Business is the leading independent business magazine and website for commercial agents and advice professionals, reaching the largest global audience of any insurance publication. A key business resource, Insurance Business provides daily breaking news, cutting-edge opinion and in-depth analysis affecting the industry. Insurance Business also offers a series of industry reports that recognise the achievements of key individuals and businesses such as Elite Brokers, Top Producers, Five Star MGAs and Brokers on Insurers, as well as providing the latest in business best practice in a continually evolving industry. Part of a global suite of award-winning insurance publications by international media company Key Media, Insurance Business reaches over 200,000 readers each month in USA, Australia, New Zealand, Asia, Canada and UK. Find out more at www.insurancebusinessmag.com.

 

For speaking and registration enquiries:

jess.cockley@keymedia.com

For sponsorship enquiries:

jonathan.connelly@keymedia.com