Parametrics: the next big thing?

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 […]

#MeToo is not over: sexual harassment claims to stay in the spotlight in 2019

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 […]

International D&O Update

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. […]

Aggregation in a representative proceeding – Court gives further guidance for insurers

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 […]

NSW EPA concedes more protection for individuals subject to “special executive liability”

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 […]

ASIC bolsters cross border powers with landmark agreement

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 […]

Million dollar penalty imposed on licensee for systemic failures to address best interests duty

First time the Court has imposed a penalty on an Australian Financial Services Licensee (Licensee) for breaches of the best interests duty On 30 March 2017, Justice Moshinsky of the Federal Court of Australia (Court) delivered judgment, declaring multiple breaches of s961K(2) and s961L of Corporations Act 2001 (Act) by Licensee, NSG Services Pty Ltd […]

No duty of care to subsequent home owners. Consultants in the clear?

Ku-ring-gai Council v Chan [2017] NSWCA 226 What you need to know The New South Wales Court of Appeal has delivered a decision that creates significant difficulties for subsequent purchasers of domestic properties who seek recovery from building consultants for defective works when recourse against the builder under statutory home warranty schemes is available. This […]

Discretionary timing of bank’s ‘target hardening’ technology deemed sound in Court of Appeal decision

Banks and other institutions invest significant amounts of time and capital in building systems, processes and procedures to plan for untoward criminal activity to ensure their staff, customers and the public are safe. Wotton + Kearney has recently represented Westpac in a matter in the ACT Court of Appeal Roberts v Westpac Corporation [2016] ACTA […]