Parametrics: the next big thing?

Parametric insurance is becoming increasingly common as it give insurers a way to resolve risk-transfer concerns. The success of these products depends on the accuracy and objective nature of the parameters set and a deep understanding of the potential exposures. Nick Lux, Aisha Lala and Ben Hine consider the rising popularity of this product in […]

NDIS: the most significant social reform since Medicare

As the rollout of the NDIS nears completion, insurers and defendants need to understand their obligations regarding Preliminary Notices and Recovery Notices as non-compliance is a criminal offence. Wotton Kearney’s Hope Saloustros and Laura Jean consider these implications of the NDIS for insurers – as well as the reporting obligations and the NDIA’s broad powers […]

Emerging General Liability Trends Update

Welcome to Wotton Kearney’s snapshot of the key trends and emerging risks in general liability insurance in Australia. In this edition we look at the impact of recent significant matters, including the Lacrosse cladding fire litigation conducted by our Melbourne team, the ongoing risk of concussion claims and prison authority liability claims. We also look […]

The BEAR: a radical structural shift for insurers?

Executive accountability for financial product design, promotion, delivery and remediation was a major theme in the Final Report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. It is an issue which insurers will need to grapple with if one of the less publicised, but potentially very significant, recommendations in […]

Employee Class Actions: New claims in the flexible employment economy

The gig economy is reshaping employee class actions, with recent decisions classifying independent contractors and casual workers as employees. Historically, employee class actions were the monopoly of the union movement. But with the waning of union membership and influence, and the rise of the gig economy and large numbers of casual workers, litigation funders are […]

Something to be reckoned with – Royal Commission recommendations for claims

Many significant recommendations have been made in Commissioner Hayne’s Final Report arising out of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry. While there has been significant commentary about the recommendations broadly, one recommendation that is likely to have a significant impact on the insurance industry has received relatively little […]