Insurance

The insurance industry is going through a period of significant flux. Wide-reaching statutory developments, an increasing web of regulation, and an array of new technologies, platforms, and associated target markets are emerging for the market to grabble with.

We recognise that the relevant stakeholders are looking to cut costs where possible in order to maintain a profitable bottom line. We also recognise that, in such an economic climate, the preservation of long-standing commercial relationships is absolutely key. Even with contentious matters, therefore, we understand that how the matter is handled is often as important as the ultimate outcome.

The Insurance team has in-depth experience of handling various aspects of the ‘stock’ insurance work, with particular expertise in:

  • Policy coverage disputes, across various classes of business
  • Policy wordings advice
  • Fraud
  • Subrogated recoveries
  • Liability / Defence

The team’s combined experience spans various lines of business including Property, Fine Art & Specie, Professional Indemnity, Financial Lines, Product & Public Liability (including HSE prosecutions), Construction, and Speciality.

For all standalone advice, and recognising the existing pressures on the industry, we will provide an initial opinion for a fixed fee, bringing financial certainty to the client. Should our ongoing advice/input be required, we have various innovative fee structures available.

Our subrogated recoveries scheme is different to anything else on the market. Capital Law has its own litigation fund (a UK first), which allows us to adapt funding terms to each individual claim. The starting point is that we will cover all costs of the litigation on an ongoing basis – fees, disbursements, even any liability for third party costs – in exchange for a share of the ultimate recovery. That share will reduce the more straightforward the claim is, and the earlier that it settles. For further information on the scheme click here.

Beyond those discrete matters, however, we aim to deliver genuine long-term savings to our clients by offering innovative services which recognise the ongoing challenge of legal and regulatory developments and aim to address the pressing need for innovation within the sector in the face of increasing pressure on rates and ratios.

We have formed a cross-practice InsurTech team possessing the complete suite of skills and expertise essential to our clients’ effective operation within the space – whether that be the formation of a new company, the launch of a new product, or the implementation of a new collaboration. Such projects will require legal input across a wide range of sectors, including:

  • Corporate Finance
  • Regulatory & Compliance
  • Commercial Contracts
  • Insurance
  • Intellectual Property

And in keeping with our philosophy as a firm, we assist our clients on all sorts of matters beyond the legal scope, including by connecting businesses across the insurance and tech divide where there are obvious synergies. As individuals we are experts in our particular fields, as a team, we are a formidable business partner.

The leading lawyers for the team is Nick Pester