Monthly insurance policy wording update
The Word, June 2023
28 June 2023
Welcome to June’s edition of the The Word, a monthly summary of important and interesting stories, cases, news and views of interest to underwriters and those responsible for creating and distributing insurance policies. The Word is brought to you by Browne Jacobson’s policy drafting and distribution team.
In this month’s edition we feature an update following the Pizza Express decision in relation to COVID-19 losses, a look at issues relating to risk including a predicted increase in cyclones and the latest data on global resilience. We also consider the consequences for insurers of the latest boom in AI products and algorithmic underwriting. Finally, we review a case from Texas relating to the incorporation of contracts into insurance policies.
I hope you find this edition informative and interesting.
Tim
Contents
- Pizza Express v Liberty: business interruption policy drafting considerations
- Tropical cyclones are predicted to increase across the North Atlantic
- Algorithmic underwriting, boosting time and cost efficiency
- ExxonMobil v National Union Fire Insurance: meaning of ‘additional insureds’ guidance
- The AI product boom: risks and opportunities for insurers
- The FM Global Resilience Index 2023: underwriter risks
- If you think data compliance is expensive – try having a data breach!
Meet the team
Tim Johnson
Partner
Alice Smith
Trainee Solicitor
Lauren Wilkinson
Trainee Solicitor
Key contact
Tim Johnson
Partner
tim.johnson@brownejacobson.com
+44 (0)115 976 6557
Contact Tim
You may be interested in...
03 December 2024
Legal Update - London Market Quarterly
London Market Quarterly December 2024: An eye on what the market needs to know
26 November 2024
Published Article
Johnson et al v FirstRand Bank: Judgment sends warning across financial services intermediation
26 November 2024
Opinion
Balancing employer flexibility and employee rights
25 November 2024
Legal Update
The ‘grate’ cheese robbery: Implications for insurance professionals
25 November 2024
Legal Update
Environmental crime and the impact for insurers
25 November 2024
Legal Update
Carbon fraud prompts insurance response
25 November 2024
Legal Update
What might a Trump victory mean for the UK insurance industry?
25 November 2024
Legal Update
Post Office scandal: Lessons for underwriters
25 November 2024
Legal Update
Weather protection parametric insurance: A sign of things to come?
19 November 2024
Legal Update
e-Evidence Package: Increased obligations on service providers to cooperate with data requests from law enforcement authorities
15 November 2024
Legal Update
Building an inclusive workplace: strategies for attracting and retaining disabled talent
11 November 2024
On-Demand
Kinship care: DJ v Barnsley Metropolitan Borough Council and SG
05 November 2024
Legal Update
After a pause, Buy Now Pay Later (BNPL) regulation becomes one step closer
28 October 2024
Legal Update
Updates to the UK’s Arbitration Bill
28 October 2024
Legal Update
Ozempic: The rising costs and coverage issues of weight loss medication
28 October 2024
Legal Update - Employment Rights Bill
What does the Employment Rights Bill mean for employment practices liability insurance?
28 October 2024
Legal Update
ICAEW: Changes to PII requirements
28 October 2024
Legal Update
Contractor insolvency: Peabody Trust v NHBC
24 October 2024
Legal Update
Insurability by design: Increased transparency for vehicle manufacturers and insurers
17 October 2024
Legal Update
By a narrow 2 to 1 majority, the Court of Appeal finds in favour of insurers in the construction of an exclusion clause in a W&I policy
15 October 2024
Legal Update
Organisational approaches to ESG and sustainability matters
23 September 2024
Legal Update
LMA binders’ consultation
23 September 2024
Legal Update
Smooth sailing ahead: The LMA's new Open Form Default Clause
23 September 2024
Legal Update
PFAS: The issue that won’t go away
23 September 2024
Legal Update
Oklahoma earthquake: Racial discrimination in adjudication
23 September 2024
Legal Update
Will the Online Safety Act help reduce Google ad spoofing in insurance?
23 September 2024
Legal Update
Vicarious liability for kinship foster carer abuse: Implications for local authority insurers
23 September 2024
Legal Update
Latest short-term insurance trends
10 September 2024
Legal Update
Motor finance complaints on hold: Why now is the time for strategic action
30 August 2024
Published Article
General insurance claims part 3: evidence of the insurance markets’ learnings from the consumer duty
29 August 2024
Legal Update
Artificial intelligence putting the ‘actuarial defence’ to the test?
29 August 2024
Legal Update
Under the influence: France introduces insurance requirement for influencers
29 August 2024
Legal Update
Insuring a summer of sport
29 August 2024
Legal Update
The impact of UK riots on insurers
29 August 2024
Legal Update - The Word
The Word, August 2024
28 August 2024
Legal Update
Product Safety and Metrology Bill: E-bike and e-scooter fires
19 August 2024
Opinion
Choose your words wisely: Balancing inclusivity and employees’ beliefs at work
09 August 2024
Published Article - Consumer Duty
General insurance claims: The consumer duty’s easy target? (part 2: ‘a history of warnings’)
29 July 2024
Legal Update
Words matter: Another case on the importance of accurate drafting
29 July 2024