Informed Insurance 2022/2023 – Resilience: new emerging threats challenge insureds and insurers

Many emerging threats are becoming critical operational issues, including greenwashing, supply chain issues, rising numbers of insolvencies, cyberattacks and ransomware. For insurers, these present important challenges to address for their clients and for society. This report by our Legalign Global alliance partners, which features commentary by Wotton Kearney’s Kieran Doyle, looks at why these emerging […]

Informed Insurance 2022/2023 – Sustainability through technology: managing the transition

As we transition into being a digital and more sustainable society, managing the move successfully will be a challenge in itself. Around the world, governments are already wrestling with changes to existing risk profiles and the new exposures and liabilities created by the move to more sustainable ways of working and living. This report by […]

A new frontier of risk – offshore oil and gas asset decommissioning in Australia

Earlier this year, a new ‘trailing liability’ regime was introduced with amendments to the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth). These changes ensure former titleholders carry a liability, even if their title has been disposed of, surrendered or terminated. With a predicted estimated liability of USD $40.5 billion for well plugging, abandonment […]

WA introduces class action scheme

On 1 September 2022, new class action laws were passed in Western Australia (WA). The Act will come into operation on a day to be fixed by proclamation. The Civil Procedure (Representative Proceedings) Bill 2021 (WA) introduces a legislative representative proceedings regime in the Supreme Court of Western Australia, which is substantially modelled on Part […]

Wind power creates a strong headwind for insurers

Onshore and offshore wind farms are the fastest growing renewable energy source in Australia, and the demand is accelerating. This growth is enabled by evolving wind technology, which continues to present distinct and expensive challenges for operators and their insurers. In this article, Adam Chylek and Doug Heard look at how insurers are actively informing […]

Ten ways IT professionals can avoid the blame game after a cyber breach

Australia is suffering from a ransomware epidemic and IT providers are increasingly being affected by both platform/supply chain and direct attacks. IT providers (in particular managed services providers) are an attractive target for direct attacks, given the potential knock-on impact to their clients and a likely increased motivation to pay the ransom. These attacks are […]

Judicial report highlights Victoria’s current approach to costs is “quite inadequate”

On 23 August 2022, the Supreme Court of Victoria released Supreme and County Court Review of Litigious Costs, a report written by the Hon. Justice Jack Forrest and Her Honour Kathryn Kings. The report recommends significant changes to the way costs are awarded, including replacing the much maligned ‘scale of costs’ used in the Supreme […]

Where will the RI Advice proceedings take us?

On 5 May 2022, the Federal Court delivered its penalty judgment in the RI Advice proceedings, which were commenced by ASIC for alleged breaches of its obligations as a financial services licensee under section 912A of the Corporations Act 2001 (Cth) following numerous cyber incidents. The Court made declarations of contraventions and ordered RI Advice […]

ACCC sets new product safety priorities

At the National Consumer Congress held in June 2022, the Chair of the ACCC, Gina Cass-Gottlieb, launched the ACCC’s Product Safety Priorities for 2022-23 under the theme “Protecting Tomorrow’s Consumers Today”. In this update, Scott Macoun and Trent O’Neill from W+K’s specialist Product Liability & Recall team look at the new product safety priorities, as […]

New Zealand Law Commission releases long-awaited report on class action and litigation funding

The New Zealand Law Commission’s long-awaited report on class action and litigation funding was released on 27 June 2022. The 483-page final report contains a broad range of recommendations, including a recommendation that there should be a Class Action Act and amendments to the High Court Rules. In this update, W+K’s Antony Holden and Michael […]