InsurLaw 2023: Reforms, Regulation & Climate Challenges

Navigate effectively through the new regulatory framework under the Insurance Contracts Bill. Gain expertise from leading international authorities on insurance law, exploring the impact of these changes and their interactions with ongoing reforms. Understand the industry's response to climate change, adapt to shifting risks, delve into Business Interruption Insurance, and interpreting contracts. Don't miss this opportunity to expand your knowledge and skills. 

Thursday, 21 September 2023
11.35am to 12.20pm Liability Insurance

 

  • What is liability insurance intended to cover? Basics of liability insurance explained
  • Contractual liability exclusions
  • Third party claims against insurers

Presented by Cecily Brick, Partner, Fee Langstone

12.20pm to 1.05pm Natural Disasters and the Customer Journey

 

  • How the introduction of CoFI and the fair conduct principle impacts on customers
  • The change from the EQC Act to the Natural Hazards Insurance Act
  • The operation of the NDRA
  • The introduction of the NZCRS
  • Dispute resolution processes and what still needs to be resolved by EEQ TTA under the NHIA

Presented by Jane Brown, General Counsel - Insurance Council of New Zealand

9.05am to 09.50am Insurance Contracts Bill

 

  • What stage is the Bill at?
  • Discussion of some of the key changes:
    • Duty of disclosure and proposed remedies
    • Prescribed form of policy documents
    • Unfair contract terms
    • Transitional arrangements
  • Next steps/how can insurers prepare?

Presented by Catriona Grover, Partner, Financial Markets, Dentons Kensington Swan

9.50am to 10.35am Business Interruption Insurance

 

  • General principles
  • Catastrophe claims
  • Recent caselaw and developments

Presented by Professor Robert Merkin KC, Professor of Law, University of Reading, Special Counsel, Duncan Cotterill

10.50am to 11.35am Interpreting Insurance Contracts

 

  • Principles of construction in insurance contracts
  • Recent Court of Appeal decision in Napier City Council v Local Government Mutual Funds Trustee Ltd [2022] NZCA 422
  • Application and interpretation of exclusion clauses
  • Potential reform of exclusion clauses under the Insurance Contracts Bill

Presented by Nick Laing, Senior Associate, Duncan Cotterill

 

Chair:

Chris Boys, Director, Assure Legal

Description

Attend and earn 4 CPD hours

10.35am to 10.50am Morning Tea
1.10pm to 1.15pm Closing Comments by Chair
Learning Objectives

 

  • Gain comprehensive insights into managing the new regulatory framework under the Insurance Contracts Bill and its impact on ongoing reforms.
  • Understand the industry's response to climate change and how to adapt to shifting risk landscapes and foster sustainable practices.
  • Delve into Business Interruption Insurance caselaw
  • Enhance expertise in interpreting insurance contracts.
  • Examine the application and interpretation of exclusion clauses and potential reforms under the Insurance Contracts Bill.
  • Stay informed about the current issues facing the insurance law sector.
  • Be prepared for the challenges and changes brought by the new regulatory framework for insurer conduct.
9.00am to 9.05am Opening Comments by the Chair

Presenters


Mr. Chris Boys, Director, Assure Legal
Since 2013 Chris has been the Director of Assure Legal, specializing in Insurance litigation. Before practicing as a lawyer, he worked as a commercial claims handler for several large New Zealand insurers, and in London as a Lloyd's broker. He has worked for the Insurance and Savings Ombudsman, and as a Barrister and Solicitor for a niche civil litigation firm, handling personal injury, employment, and insurance cases. In 2020 he was appointed as a member of the Canterbury Earthquake Insurance Tribunal, and since October 2021 he has been the chair of the Tribunal. Chris handles cases and appears in the High Court, and District Court. He has extensive experience and a proven track record in obtaining favorable settlements through mediation or negotiation. His skills and experience enable you to find the best solution to your legal problems.


Professor Robert Merkin KC, Professor of Law, University of Reading, Special Counsel, Duncan Cotterill
Rob is Professor of Commercial Law at the University of Reading in England, Honorary Professor of Law at the University of Auckland and Distinguished Professor in the School of Comparative Law at the China University of Politics and Law in Beijing. In addition, he is a visiting Professor at the University of Sydney, teaching an intensive insurance law module to Masters’ students. Rob has taught insurance law in several other institutions, including the University of Queensland, Hong Kong University, City University in Athens and National University of Singapore. As well as advising insurance companies and brokers, Rob gives seminars to lawyers, the insurance industry and national insurance law associations worldwide. In particular he has spoken on a number of occasions for the NZ Insurance Law Association and the Australian Insurance Law Association, and has given regular updates for the Lloyd’s Market Association and the British Insurance Law Association. Rob is presently acting as consultant to Ministry of Business, Innovation and Employment for the ongoing project to reform New Zealand insurance law. Rob sits as an arbitrator, and has had a number of appointments in England, Hong Kong and Singapore.


Ms. Catriona Grover, Partner, Financial Markets, Dentons Kensington Swan
Catriona is a partner in our Financial Services team with more than 20 years’ experience. She specializes in investment funds, insurance, financial adviser arrangements, fintech and financial services regulation. Catriona provides advice on all aspects of the Financial Markets Conduct Act including licensing, establishment of managed investment schemes, disclosure documentation and ongoing compliance. Catriona advises insurance clients in relation to insurance policy and marketing documentation, adviser and distribution agreements and governance processes with a focus on conduct and culture. She also advises on the design, implementation and regulation of new fintech products and services including cryptocurrency and other digital assets. Catriona is at the forefront of financial services reforms including the current financial advice provider licensing framework, conduct licensing for financial institutions, climate reporting disclosures and the Insurance Contracts Bill. Catriona works with many of New Zealand’s leading fund managers, banks and insurance companies as well as a range of smaller and boutique companies. Catriona’s experience in the financial services sector brings a depth of knowledge and awareness of industry practice to her clients. Her advice is tailored to take into account a client’s specific circumstances and offers clear and practical answers.


Mr. Nick Laing, Senior Associate, Duncan Cotterill
Nick is a litigation lawyer, practicing in civil and commercial litigation. Nick practices across a broad range of litigation matters, resolving disputes in the tribunals, in mediations and arbitrations, and in all levels of the Courts. In the insurance sector Nick advises insurers and insureds on indemnity and defense issues, particular for statutory liability claims in the health and safety space. Nick has a particular focus on professional liability claims for health professionals.


Ms. Cecily Brick, Partner, Fee Langstone
Cecily is an insurance law specialist, having practised largely in insurance law for over 20 years. She regularly advises major New Zealand insurers on policy coverage issues and claims disputes, particularly in the areas of property and business interruption insurance, public and product liability policies, construction risks including contract works insurance, as well as life insurance. During her time practicing insurance law, Cecily gained expertise in advising insurers on liability insurance issues arising out of leaky building litigation, and then property insurance issues arising out of the Canterbury earthquakes. Cecily has a growing practice in the regulatory and compliance area. Cecily has significant experience in litigation and dispute resolution through mediation and negotiation, including claims of significant value and complexity. Cecily is named as a Leading Individual in insurance by Legal 500.


Ms. Jane Brown, General Counsel - Insurance Council of New Zealand
Jane joined ICNZ in 2017 as Legal Counsel and became General Counsel in 2022. As General Counsel, she is responsible for legal issues throughout the organisation, oversees the liability, cyber risks and travel committees, and provides secretarial services to the ICNZ Board, ICR Board, and Code Compliance Committee. Prior to joining ICNZ, Jane worked in local government insurance, with a focus on covering professional liability risks and underground infrastructure. Jane has an LLM (Hons), a BA majoring in French, is a Senior Associate of the Australian and New Zealand Institute of Insurance and Finance and is a Barrister and Solicitor of the High Court of New Zealand

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InsurLaw 2023: Reforms, Regulation & Climate Challenges

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Single Session
Thursday, 21 September 2023
9.00am to 1.15pm Pacific/Auckland
CPD Hours 4
4
$420.00
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