The Coronavirus Economic Response Package Omnibus Bill 2020 (CERPO Bill) and recent ASIC statements have put focus on management liability issues arising from the COVID-19 crisis. The CERPO Bill provides some temporary relief for directors as they navigate the uncharted territory caused by COVID-19, particularly in addressing insolvency risk. In this update, Cain Jackson and […]
The significant impact of the coronavirus pandemic is being felt worldwide. For the insurance sector, the exposures created by the coronavirus are significant as an international event of this size and complexity carries a range of insurance risks, including first party and supply chain business interruption, event cancellation, travel and liability claims. Legalign Global’s alliance […]
Traditionally, multi-million dollar payouts in employment litigation were only awarded to executives of large corporates and high-profile public figures. With the evolution of the General Protections provisions in the Fair Work Act 1999, “average workers” are now regularly seeking – and winning – high levels of compensation and damages through adverse action claims. W+K’s EPL specialist […]
We are pleased to share our latest Legalign Global thought leadership publication, Informed Insurance: 2020 Predictions, which has been launched in our region today. Aimed at supporting the global insurance market in preparing for the opportunities and challenges ahead, the report includes over 80 predictions by senior lawyers at the Legalign Global alliance firms, including Wotton […]
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 […]
Claims for sexual harassment have risen significantly in Australia during the past year, and they will keep rising. The recommendations from the National Inquiry into Sexual Harassment in Australian Workplaces could mean new claim types emerge. A rise in claims, combined with the renewed focus on sexual harassment, will cause businesses to increasingly take out […]
There have been some interesting global developments that are changing the landscape for D&O insurers. In this first edition of our International D&O Update, we have joined with our Legalign Global alliance partners to bring a summary of landmark cases and regulatory developments that will impact insurers both here in Australia and across the globe. […]
Bank of Queensland Ltd v AIG Australia Ltd [2018] NSWSC 1689 The NSW Supreme Court recently considered the application of a “related wrongful acts” aggregation provision in the context of a representative proceeding commenced against the insured, Bank of Queensland. The Court held that the representative proceeding itself constituted one “claim” under the policy, but […]
In recent years, the issue of environmental protection has grown in importance. As a result, the powers of the NSW Environmental Protection Authority (the EPA) to investigate and prosecute environmental offenders (including corporations and individuals) are being increasingly applied. Last month in Fordham v EPA [2018] NSWCA 167, the EPA clarified that any responses provided […]
The Australian Securities and Investments Commission (ASIC) recently announced that it has become one of the first signatories to a new co-operative agreement between leading international securities regulators in the UK, USA, Hong Kong, British Columbia and Singapore. In our article “ASIC Bolsters Cross Border Powers With Landmark Agreement”, Special Counsel Naomi Miller reviews the […]
