Legal
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The establishment of the National Recovery and Resilience Agency follows news of a new A$10bn state reinsurance backstop for cyclones.
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The pool, which will cover cyclone and related flood damage from July 2022, is expected to bring down the cost of insurance.
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The Senate has signed off an insurance reform bill which eliminated earlier proposals on cash roof settlements and fee multipliers, but reduced the statue of limitations and made other pro-industry changes.
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The next hearing in the case will be after 21 May.
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Gary Boss is based in New York, and Ashley Prebble works at the law firm’s London office.
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The reinsurance broker is looking to recover over £10mn and impose an injunction to ensure the return of confidential information.
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The Suez Canal Authority has detained the ship as parties discuss a disputed $916mn claim.
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The former LatAm and Caribbean chair, who moved to Guy Carpenter, has failed to nullify non-solicitation clauses.
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The larger broker says it lost more than $6.5mn in revenue after leaders “solicited” colleagues and clients.
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The law firm has already this year seen a lot of PE support for startups and scale-ups both through equity and debt.
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The penalty comes after a Section 166 review into the Lloyd’s broker’s activities.
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The move follows the brokers’ submission of a remedies package last week to allay competition concerns.
