Approaches To Coronavirus 2021

Date: Monday, March 15th, 2021 by Michaela Hickson.

Since our first Global Insurance Law Connect report on the impact of COVID 19 in July 2020, we have seen changes in the way we live and work and begun to understand the challenges for businesses and economies around the world. While different countries and regions continue to endure different stages of progress towards recovery, thankfully the development of vaccines gives hope.

In this update, our GILC members offer their view of the issues facing insurers. Drawing upon in-depth understanding of the local jurisdiction and cultural, political and geographical challenges, we provide a unique overview for the insurance industry. We see common themes emerge from coverage to regulatory change, all addressed to compare approaches across the globe and provide insight and guidance for our clients.

Disputes concerning business interruption have triggered challenges in numerous jurisdictions. Our members consider the likely claims to come, not least in D&O, where several members focus upon the likely increase in bankruptcy procedures leading to legal actions and claims under credit insurance. How are the courts adapting and what regulatory changes do you need to address? A recurring topic is the change in working practices and business environment, while the acceleration in digitisation has seen the industry move several years’ forward in just a few months.

We are delighted to welcome two new members from Turkey and the Netherlands to our network of leading insurance law firms as we continue to grow. You will find the contact details for all of our member firms in this report – please get in touch to seek their further guidance or advice. If you would like more information about Global Insurance Law Connect, the services we offer and our range of established expertise across business lines, please contact us.

To view the full report, click here.