Legal
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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. -
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.
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Senator Jeff Brandes and local insurance law experts tell this publication that the state’s insurance market will be hugely vulnerable without reform.
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A New York court has ruled that the names of two clients who are friends with a broker who has left Willis Re to join rivals TigerRisk can be published.
