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Private equity M&A partner Andrew Wingfield alongside associate Katie Bunce and Caroline Rowlands, head of private equity at Howden M&A, have authored an article for Reuters Westlaw discussing issues surrounding the market for warranty and indemnity insurance during the coronavirus pandemic. M&A insurance: Changes, Impact and Opportunities for Investors Resulting from COVID-19 …
While most of society struggles to flatten the curve, treat the sick and restart the economy, regrettably, some bad actors have used the COVID-19 emergency as an opportunity to exploit vulnerabilities for personal gain. One of the key areas of increased exposure is cybersecurity. Companies should review their risk management and insurance arrangements now to ensure that they are properly protected in the event they become the target of cyber crime. The rapid and unexpected onset of the coronavirus pandemic resulted in massive changes in the way we do business. The transition from secure office infrastructure to working from home…
On 1 May 2020, the UK Financial Conduct Authority (“FCA”) published a statement on its website about business interruption (“BI”) insurance cover in light of the current COVID-19 pandemic. The FCA confirmed that it intends to obtain a fast-tracked court declaration to resolve current contractual uncertainty in relation to the same. The issue which the FCA would like to resolve is that there is currently a great lack of clarity and certainty for many businesses making BI claims, and the basis on which insurance firms are subsequently making decisions in relation to whether to pay out on such claims. Due…
With most policyholders focused on recoveries from business interruption insurance, you might not think this is the time to consider your company’s D&O policy. It is. What you do now can make a difference later when it comes to securing coverage for liability claims against your company, and its officers and directors, arising from the coronavirus pandemic. Why think about D&O insurance now? First, plaintiffs’ lawyers are always looking for an opportunity to generate event-driven litigation, particularly now when markets and companies are volatile. This can include claims that a company failed to implement proper risk management measures, or misrepresented…
In recent weeks, there has been a flood of general advice from brokers, insurance lawyers and others opining that there may – or may not – be insurance coverage for coronavirus losses under various types of insurance policies for business interruption or other losses and liabilities. What you may not know is that specific provisions buried in a 100+ page insurance contract may provide coverage you did not realize you had. Slight nuances in policy language or applicable law are important and should be analyzed by experienced coverage counsel. The pandemic is causing substantial business losses in a variety of…