Economic risk | 保险和再保险
Professional Indemnity Market Report 2024
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Our global professional indemnity team has a long established reputation for successfully defending negligence claims against professionals and handling the most complex coverage issues. We offer specialist advice on both high volume and high value claims.
Our clients include accountants, actuaries, architects, bankers, brokers, engineers, financial advisors, IT professional, media professionals, medical practitioners, lawyers, surveyors and valuers. We have specialist teams focusing on each of the major professions, including a number of partners who specialise solely in lawyers' or accountants' liability, and are regarded as market leaders in these sectors.
Our professional indemnity team has experience in complex regulatory investigations and litigation, particularly the problems presented by parallel proceedings. We are also experienced in relation to coverage issues including trigger points for cover.
Professional indemnity matters are increasingly transcending national boundaries and we have the global reach to handle complex multi-jurisdictional issues, with the appropriate on the ground experience to ensure that local rules and customs are taken into account. Our experience of monitoring and handling worldwide claims means we have the necessary foundation to offer practical assistance to local counsel and in expert selection. We recognise the need for accuracy and timeliness of reserving, operating through local court systems and ensuring the optimum disposal of claims.
A distributed denial of service attack, which caused the website of a major retailer to shut down for nearly 72 hours, leading to business interruption loss and other first party loss.
Acting for a wealth management firm in respect of multiple customer complaints concerning advice given to invest in an unregulated collective investment scheme (a fund of hedge funds). We advised on communications with customers and the FOS and have assisted with the design and implementation of a scheme (for approval by the FCA) to compensate all customers who fit within certain defined parameters
Acting for IFAs in claims by clients and the FSCS arising out of the collapse of Keydata Investors who have lost all of their funds
Acting for an IFA on a claim brought by a household name against his former financial adviser in relation to a series of unregulated investments made across the world
Acting for a wealth management firm in relation to civil and regulatory exposures arising from pension switching advice in which customers were advised to switch from occupational to personal pensions
Acting for a well known national IFA network in relation to a series of frauds committed by an adviser
Advising on a claim against a solicitor for breach of duty and breach of fiduciary duty. The claim raised significant issues regarding scope of duty, conflict of interest and causation in addition to a number of policy issues which also arose
Advising brokers on a substantial negligence claim for failing to advise correctly on cover required
Advising the captive insurers of the largest global accountancy networks on their direct insurance, reinsurance and fronting programmes
Advising commercial surveyors with allegation of conspiracy and fraudulent misrepresentation relating to the purchase of a commercial property / business
Acting for an accountants practice in successfully settling a CAD 130 million class action brought by investors in Canada
A distributed denial of service attack, which caused the website of a major retailer to shut down for nearly 72 hours, leading to business interruption loss and other first party loss.
Advising in respect of numerous claims made against auditors involved in auditing Chinese companies listed in the US
Advice in relation to claims against a global engineering company arising out of alleged negligent design and construction of power plant facilities in the United States
Representing a Canadian corporation in US court against a claim for copyright infringement over the use of a performer’s image on a website
Acting on behalf of a greeting card designer and publisher over the use of a trademarked phrase in greeting cards
Defended a retailer/manufacturer over the use of copyrighted images on a website
Defended a book publisher and an author over the use of copyrighted images and alleged defamatory statements in a celebrity biography
Handled a USD 300+ million claim based upon construction delays and cost overruns on a state-of-the-art football stadium
A celebrity entertainer alleges that his lawyers' malpractice and breach of fiduciary duty led to USD 80 million in misappropriated funds
Advice in relation to a USD 300 million plus claim against a global design and engineering company relating to the alleged negligent design of a hydro-electric facility in Panama (with claims in multiple jurisdictions including the United Kingdom, Sweden and the United States)
Defending a negligence claim against the administrators of an English incorporated mining exploration company in Peru involving allegations that they caused the company’s main assets to be sold to a connected party at an undervalue
Advice in relation to claims against a global engineering company arising out of alleged negligent design and construction of gas processing facilities in Trinidad
Acting for a Big Four practice in Australia in respect of US Securities and Exchange Commission investigations and complaints regarding negligent and improper accounting practices, and advice on inter-firm related captive coverage
Acting for an engineer defending negligence claims in relation to various projects, including the allegedly negligent design of tunnels, roads and bridges
Defending structural engineers alleged to have failed to take account of hydrostatic pressure calculations in designing a landmark luxury harbour-side apartment complex
Acting for the insurers of a large consulting engineering firm in relation to Federal Court of Australia proceedings which alleged they were responsible for the collapse of underground mine workings
Acting for the industrial special risks insurer in a mining project in respect of a large claim for double insurance against the contracts work insurer
Advising on a multi-million dollar claim against a Hong Kong accountancy firm by the Liquidators of a family textile company, alleging a failure to detect accounting irregularities in relation to its PRC subsidiary
Advising on insurance coverage in relation to a failed waste treatment plant
Drafting a number of the single project insurance policies currently in use in the Hong Kong and UK market
Advising on CAR cover in relation to a multi-million dollar claim arising from a warehouse collapse at a major international airport
Acting for a D&B contractor and its insurers in the defence of multi-million dollar claims relating to allegedly inadequate fire stopping in 78 houses, following an initial arson attack
Advice in relation to a USD 1 billion claim against a global engineering company arising out of alleged negligent design and construction of an oil and gas processing facility in Russia
Defending one of the Big Four against a shareholder claim for AED 500 million (GBP 84 million) which arose from its role as auditor and financial adviser in the UAE and Bahrain
Acting for a wealth management firm in respect of multiple customer complaints concerning advice given to invest in an unregulated collective investment scheme (a fund of hedge funds). We advised on communications with customers and the FOS and have assisted with the design and implementation of a scheme (for approval by the FCA) to compensate all customers who fit within certain defined parameters
Acting for IFAs in claims by clients and the FSCS arising out of the collapse of Keydata Investors who have lost all of their funds
Acting for an IFA on a claim brought by a household name against his former financial adviser in relation to a series of unregulated investments made across the world
Acting for a wealth management firm in relation to civil and regulatory exposures arising from pension switching advice in which customers were advised to switch from occupational to personal pensions
Acting for a well known national IFA network in relation to a series of frauds committed by an adviser
Advising on a claim against a solicitor for breach of duty and breach of fiduciary duty. The claim raised significant issues regarding scope of duty, conflict of interest and causation in addition to a number of policy issues which also arose
Advising brokers on a substantial negligence claim for failing to advise correctly on cover required
Advising the captive insurers of the largest global accountancy networks on their direct insurance, reinsurance and fronting programmes
Drafting and advising on direct and reinsurance PI policies for Architects and Engineers for use in the UAE to cover (inter alia) decennial liability.
Defending two UAE court claims (AED 18 million and 32 million) against a global firm of multidisciplinary consulting engineers for alleged design faults.
Advice in relation to claims against a global engineering company arising out of alleged negligent design and construction of a sewage and waste water processing facility in the Middle East
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