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Insurers must continue to support climate change research and forecasting, as well as commit to sharing it for the common good. Extinction Rebellion’s protests outside Lloyd’s headquarters in April 2022 made headline news, highlighting the real demands that the insurance industry is facing to tackle climate change.
In this briefing, we consider the latest court decisions raising issues for the Quincecare duty, contribution claims against counsel, non-disclosure of material facts, COVID-19 business interruption losses and aggregation of claims.
With mandatory climate disclosures becoming law in the UK, effective from 6 April 2022, and the United States Securities & Exchange Commission announcing its long awaited climate disclosure rule on 21 March 2022, this report provides a snapshot of the approach towards climate disclosures in some of the jurisdictions in which Kennedys operates, before focusing on what this means for our policyholder and insurer clients in the financial lines arena.
With the growing importance of environmental, social and governance issues, companies are starting to recruit people to senior executive positions to oversee their strategies. Pamela Kokoszka investigates if the role of chief ESG officer is here to stay, or – if like the role of chief digital officers recruited in the 2010s – will be absorbed elsewhere once ESG becomes more embedded within their employers.
Kennedys receives top tier rankings in the latest guide to leading law firms and lawyers across the region.
The use of Special Purpose Acquisition Companies (SPACs) has exploded in recent years. SPACs are an increasingly popular way for private companies to become publicly traded without undergoing a traditional initial public offering.
The broad-form contractual liability exclusion is a key exclusion in private company directors and officers liability policies. On January 28, 2022, in TriPacific Capital Advisors, LLC v. Federal Insurance Company, the United States District Court for the Central District of California addressed the broad-form contractual liability exclusion. The court held that the exclusion applied to bar coverage for an entire lawsuit, notwithstanding the fact that the plaintiff alleged breaches of fiduciary duty. The decision has significant implications for D&O insurers and policyholders.
Across Europe and the United States there has been a growing focus on Environmental Social and Governance (“ESG”) regulations for corporations.
We are delighted to announce the opening of our new office in Delaware, continuing our expansion in the US.
Following the New Zealand Court of Appeal decision of Smith v Fonterra Co-operative Group Limited , Kennedys experts in New Zealand, Australia, the United Kingdom and United States provide a cross-jurisdictional review of the risk of this potential new tort also emerging in their respective countries.