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The recent decision by a Dutch court against Shell (Milieudefensie et al. v Royal Dutch Shell plc) has expanded climate litigation into the protection of fundamental rights and the imposition of positive duties on companies in respect of their future actions.
A summary of recent global regulatory developments, including what to expect from the forthcoming white paper for the reform of UK corporate governance and audit oversight, the Climate Biennial Exploratory Scenario (CBES) stress test to be launched in June 2021 and the Danish corporate governance recommendations introduced on 1 January 2021.
Stress-testing for banks was first introduced as a response to the financial crisis in 2008/2009, and is used by the Bank of England to assess how banks can cope with severe economic scenarios in terms of capital requirements.
In this briefing, we consider the latest significant court decisions impacting claims arising from professional liability and financial lines policies and products. Issues covered include: misselling by banks and a bank’s duty of care, the impact of the illegality principle upon conveyancing solicitors, aggregation as applied in SRA minimum terms and conditions, the relationship between security for costs and strike out applications and the impact of prejudice where a defence is filed late.
Today’s directors and officers have significant responsibilities not only in preserving company value and ensuring success in the future but also in responding diligently to political and environmental tensions, emerging technologies, changing regulation, and the need to promote diversity. The D&O landscape will continue to be challenging as we move into 2021.
A 2019 FCA study on the wholesale insurance broker market was prematurely concluded due to no findings of significant harm. On 3 November 2020, the FCA published a “Dear CEO” letter, which sets out the FCA’s supervision strategy for Lloyd’s & London Market Intermediaries and Managing General Agents. This article summarises those strategies and considers how to minimise risk.
Insurers must balance the income from insuring and investing in fossil fuel projects against the growing reputational and litigation risks.
The sixth and final episode of the second series of Claims Apprentice, in association with Insurance Post, launched today and is now available to watch.
In this episode, which is the continuation of episode two, teams Empower and KDA move on to recording their podcasts – Empower on the subject of the ‘Future of work’ and KDA on ‘Climate change’.
In this episode teams Empower and KDA are both challenged to plan, create, prepare and record a podcast, based on a different topical subject each.