Legal

Coverage has been available for 30 years or so, yet the market has been slow to develop.

Great Western claims it has lost $135mn to self-dealing Bermuda and Cayman reinsurers.

Despite the European Commission last month playing down concerns around contract continuity, it remains a key issue for the UK insurance industry.

Delaware Supreme Court rules against exclusion of class-action settlement costs.

Estimated losses in Q2 related to the closed legal action were trimmed by the broker to $100mn from $300mn.

An earlier appeals court ruling said Travelers policy covers fraud by email.

The HMRC proposal would restrict VAT recoveries that are currently permitted for insurance services providers supplying carriers located outside the EU but serving UK clients.

Only 7 percent of those surveyed buy insurance for intellectual property litigation risk now but one-third would do so in the future, the broker found.

In a letter to the European Commission, the trade body called for legal certainty about the transfer of personal data between the UK and the EU and the EEA ahead of Brexit.

The college alleges that 13 carriers are in breach of contract for not covering costs, including a $500mn settlement.

The new wording builds on the non-subscription market clause the IUA published last month.

Legal costs tied to intellectual property can be large yet risks are often excluded.