In the complex and ever-changing regulated environment of insurance and insurance broking, we’ve got you covered.
Insurance and insurance broking is a unique sector demanding specialist expertise. Our multidisciplinary insurance team advises all participants in the insurance industry, including international and local insurance brokers, major international and local insurers including Lloyd’s Syndicates, government entities, companies and individuals.
Voted by clients as ‘Best Provider to Financial and Insurance Services’ in Australasia in the prestigious Beaton Client Choice Awards 2022, our in-depth understanding of the insurance industry helps us anticipate and navigate the challenges our clients face.
We can advise you on your ‘front end’ needs in the insurance sector, including:
We are also experienced in assisting with claims, resolving disputes and bringing and defending litigation of complex and high value insurance issues. We regularly:
To keep abreast of developments in the insurance industry, we invite you to subscribe to our regular industry publication, Cover to Cover.
This team stands out for its strong international and local industry knowledge, combined with a commercial and cost-effective approach.
The Legal 500 Asia Pacific 2023
Advising a major international insurer on its proposed acquisition of a major life insurer, including due diligence and engagement with the Reserve Bank as prudential regulator.
Advising insurance companies on the divestment of their insurance policies, including acting for Youi on the sale of its insurance portfolio to Tower Insurance, advising Tower on its referral agreement with Club Marine following its exit from the NZ market, and advising Munich RE on the regulatory approvals required under the Insurance (Prudential Supervision) Act, the Financial Services Provider Register and general contract law to divest itself of its New Zealand operations and transfer its New Zealand policies.
Assisted a major life insurer on its response to the RBNZ/FMA conduct and culture review of life insurers and banks, including the plans to address gaps identified by the review. We also advised a major bank on the review.
Assisting a general insurer on its engagement with the RBNZ/FMA governance review of selected financial institutions. We also advised a major bank on the review.
Successfully assisting an insurer with a Reserve Bank inquiry on the “fit and proper” status of a director.
Assisting several insurers with the transition of their financial advice services under the new Financial Services Legislation Amendment Act (FSLAA) adviser regime, including strategic advice on their obligations, licensing, and training requirements. The work also involved significant engagement with the FMA as regulator.
Multiple projects include advising MAS on its residential, lifestyle and contents insurance policies and updating policies to reflect changes in legislation.
Advising Crombie Lockwood in relation to licensing under the FSLAA, and the finalised disclosure regulations that will apply for the various services it and its associated entities provide.
Regularly advising leading W&I insurers on policy inception and due diligence, as well as advising vendors and purchasers of businesses in making insurance claims under W&I policies.
Leading the recovery effort following the Christchurch earthquakes and advised CERA in placing and finalising their insurance broking and insurance arrangements for the multi-billion dollar Anchor Projects rebuild in Christchurch – New Zealand’s largest value and most complex insurance placement.
The firm of choice for New Zealand’s leading insurance broking firms in a wide variety of “errors and omissions” claims made against them, including a number of complex and high value claims. Examples include a large and complex dispute involving claimed losses of more than $500 million for alleged breaches of duties and an arbitration involving claims of negligence, breach of contract and misleading and deceptive conduct with $350 million claimed.
Acting for a major insurance company in arbitral proceedings against it with more than $288 million claimed.
Advising Lloyd’s Syndicates on significant and highly publicised claims against an insured arising from a packaging error, leading to widespread losses and large claims by customers totalling more than $10 million.
Acting on instructions from Lloyd’s Syndicate liability insurers for an international horticultural company, defending claims brought by customers.
Advising and representing a leading boutique insurer in a range of property damage and business interruption claims arising out of the Canterbury Earthquakes and in other property damage and life and health claims.
Regularly advising and representing life and health insurers in disputed customer claims and related court proceedings.
Acting for the Earthquake Commission on a range of litigation matters including class action claims.
Acted for the receivers of Pike River Coal in an $80 million recovery under a material damage and business interruption insurance policy.
Acting for a major industrial concern in a substantial business interruption claim for COVID-19 related losses.
Regularly advising and acting for insureds in a wide range of insurance claims including property damage, professional indemnity, Directors & Officers and other insurance.
Represented ANZ Bank in achieving a negotiated resolution of the first civil penalty proceeding brought by the FMA under the Financial Markets Conduct Act, in relation to credit card repayment insurance.
Advised a major life and health insurer in a regulatory investigation brought by the FMA.
Advised an insurer in a regulatory investigation brought by the FMA involving premium payments and concerns that customers were unable to benefit from cover.
Advised an insurer in a wide-ranging investigation by the FMA into broker arrangements.
Representing an insurance company in a $24 million claim against an IT supplier following a failed project to implement a new customer relationship and management system.
Advising and representing an investment fund manager in claims arising from a major cyber event, including multiple claims against professional advisers and insurers.
The team are adapt at mastering complex issues, explaining them in regular updates for participants and managing the litigation process. They have a very sophisticated understanding of the commercial landscape and make recommendations to maximise recovery potential, avoiding dead-ends.
Chambers Asia-Pacific 2023
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