Insurance and regulatory law firm O’Connors LLP is launching a new legal service for insurance buyers to coincide with this year’s Airmic Conference in Bournemouth.
Insured-Legal™ offers insurance buyers direct access to a comprehensive package of legal support to help them secure best value and protection from their insurance arrangements.
The service has evolved from many years of advising major insurance buyers, working in tandem with their insurers, reinsurers, brokers, captive managers and other service providers. Insured-Legal™ offers legal advice on such matters as:
Insuring provisions in commercial contracts with third parties -
Insurance issues arising from mergers, acquisitions, joint ventures and outsourcing arrangements –
Captives and other self-insurance vehicles, including independent feasibility studies and structures-
FSA and EU regulatory issues, including customer insurance arrangements, financial promotions and e-money rules-
Drafting and negotiating bespoke policy wording including Directors’ & Officers’ Liability, Trustee Liability and Environmental risks -
Pre-litigation coverage advice-
Service provider benchmarking and contract negotiation covering brokers, captive managers and claims administrators.
Paul O’Connor, Partner at Liverpool-headquartered O’Connors LLP, said: “Insured-Legal™ has been developed for the insurance buying community in response to a demand for specialist insurance-related legal advice that is not readily available outside a small number of Magic Circle law firms in London.
“Buying insurance involves putting in place some of the most important contracts a business enters into each year as investor confidence in a company is determined by the strength of its balance sheet which, in major part, is underpinned by its risk transfer arrangements. Market research, such as the recent Mactavish Report, suggests there is inadequate legal input into the contractual part of the process and this is the gap Insured-Legal™ aims to plug.
“An initial call or email enquiry to Insured-Legal™ will cost nothing and could help prevent a costly mistake, lead to more appropriate insurance arrangements or unlock a major opportunity.”
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