Welcome to Wotton + Kearney’s NZ Insurance Market Trends Update, our biannual snapshot of legal trends and developments impacting claims managers, underwriters, brokers and corporates operating in the New Zealand market. In this edition, we look at the impact of recent matters in the areas of D&O claims, representative actions and EPL. We provide updates […]
Wotton + Kearney is pleased to provide our 2021 Insurance Predictions Report, looking at the major trends and issues we expect will remain in the spotlight for the insurance industry in our region this year. It’s no surprise that this report addresses some of the horizon issues that we expect to face in the wake […]
Wotton + Kearney is committed to keeping our clients informed of the insurance and broader business implications of the coronavirus outbreak. With senior insurance law experts across major policy types and market sectors, we are well placed to provide advice and tailored support in product lines and claims areas we specialise in. On this page […]
The Coronavirus Economic Response Package Omnibus Bill 2020 (CERPO Bill) and recent ASIC statements have put focus on management liability issues arising from the COVID-19 crisis. The CERPO Bill provides some temporary relief for directors as they navigate the uncharted territory caused by COVID-19, particularly in addressing insolvency risk. In this update, Cain Jackson and […]
The significant impact of the coronavirus pandemic is being felt worldwide. For the insurance sector, the exposures created by the coronavirus are significant as an international event of this size and complexity carries a range of insurance risks, including first party and supply chain business interruption, event cancellation, travel and liability claims. Legalign Global’s alliance […]
We are pleased to share our latest Legalign Global thought leadership publication, Informed Insurance: 2020 Predictions, which has been launched in our region today. Aimed at supporting the global insurance market in preparing for the opportunities and challenges ahead, the report includes over 80 predictions by senior lawyers at the Legalign Global alliance firms, including Wotton […]
Submissions are now open for both the Australian and New Zealand 2019 W+K APIG Scholarships. Established to support the career development of insurance professionals practising in PI and financial lines insurance in each country, the recipients will benefit from an outstanding sponsorship package and educational experience as recognition for their contribution to the industry. Full […]
The Full Federal Court recently upheld a primary judgment rejecting the application of an insolvency exclusion in a claim brought against directors of a company in voluntary administration. The judgment in AIG Australia Limited v Kaboko Mining Limited [2019] FCAFC 96 provides useful guidance on the scope of the application of insolvency exclusions. Wotton + […]
Mainzeal Property v. Yan & Ors This week, the New Zealand High Court awarded $36m in damages against directors of Mainzeal, once one of New Zealand’s leading property and construction companies, including former Prime Minister Dame Jenny Shipley. The damages are the highest awarded for reckless trading in New Zealand’s history. The case raises a […]
Are fines appropriate penalties to deter companies and directors from breaching WHS laws when they can be indemnified by their insurers? Should insurance policies that cover these monetary penalties be made illegal and void? At the moment, companies and directors are able to insure against the risk of fines for breaches of WHS laws, however […]
