Your challenges
Current market conditions are such that clients are looking at their finances more closely. Was I sold the right mortgage or product? Did my broker advise me of that clause?
For insurance brokers, whether you are a Lloyd’s or non-Lloyd’s broker, we have experience of dealing with claims and disciplinary matters (with some members of our staff having worked at the FSA).
For brokers with a financial services division, our experience of defending these claims is detailed under independent financial advisers.
Achieving your ambitions
Our clients want their cases resolved promptly and cost effectively. Recent examples of our cases include:
- Resolving a claim against a broker in relation to an alleged failure to promptly notify a claim arising from an assault by a door attendant at a nightclub. By applying loss of a chance principles we were able to achieve a significant reduction in the amount claimed from the broker
- Defending a top 10 Lloyd’s broker, in relation to a circa £10 million claim brought by 22 investors arising out of the placement of four tax indemnity insurance policies for British Film productions
- Acting on behalf of insurers on risk for a broker in a claim brought by the FSA in connection with the broker’s unauthorised activities as underwriting agent for a Greek insurer
- Defending reinsurance brokers in relation to banker's blanket bond business, where the broker was alleged to have failed to stipulate, on behalf of the reinsured client, a choice of law and jurisdiction clause so that the disputes under the reinsurance were determined in a less favourable forum and under less favourable law
The strength you need
With a spread of lawyers across London, Birmingham, Norwich, Manchester and Leeds, we act for around forty Lloyd’s and London market insurers, as well as their insureds.
Recently we defended a claim against reinsurance brokers in relation to a circa €2 million claim arising from the placement of a proportional reinsurance contract. A reinsurer sought a declaration from the court that it was not required to indemnify the reinsureds under that contract. The claim was settled after the successful defence of the reinsurer’s application for summary judgment (The Markel Capital Ltd v Gothaer Allgemeine Versicherung AG & Anor (2008)).
We also have experience of defending claims brought through the Financial Services Ombudsman (FOS) and we can assist in responding to correspondence from the FOS.