Show/Hide Tags

D&O and FI Newsletter - Autumn 2019

Published 14 November 2019

FedEx securities class action following the NotPetya cyberattack - implications for D&O insurance

Cyber- security related incidents frequently grab the news headlines but the NotPetya cyberattack in June 2017, the largest reported cyberattack in history, demonstrated the impact such attacks can have on otherwise unconnected businesses and organisations.

READ MORE

Commercial allocations of liability in the international commodities trade

The international commodities market is a complex one. The Commercial Court has considered how to allocate liability within that market when it is disrupted by a fraudulent warehouse receipt. In essence, the court deferred to the way in which parties within the industry itself allocated risk as amongst themselves – an emergent order with which the court (sensibly) demurred to interfere.

READ MORE

Climate change for senior managers - Deadline for PRA risk management compliance passes

Earlier this year, the Prudential Regulatory Authority (“PRA”) published a supervisory statement (SS3/19) entitled “Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change”.

The insurance industry in Peru experienced exponential growth between 2006 to 2016, expanding to be the sixth largest insurance market in Latin America by the end of 2016. The market did contract in 2017 and 2018, caused largely by the global financial crisis, but the market still remains key and continues to offer opportunities for growth.

While class-actions are not (yet) a recognised key feature of the English legal system, as they are in the US or Australia, pressure is growing in the UK to allow collective or group litigation case, which appear to favour consumers rights or help promote access to justice.

These recent decisions support this growing trend.

Are SMEs leaving the door ajar allowing cyber-criminals to sneak in?

It has been well publicised that cyber-attacks have increased dramatically in recent years and that small and medium-sized enterprises (“SMEs”) in particular are vulnerable to such attacks.

Class actions in Australia - NSW Court of Appeal clarifies approach to aggregation clauses

The application of an aggregation provision remains a very fact specific and inherently unpredictable exercise.

However, the appeal decision suggests that a typical ‘related wrongful acts’ aggregation provisions will almost inevitably lead to aggregation in a representative proceeding if it is properly brought.

Authors

William Allison

London - Walbrook

+44 (0) 20 7894 6440

wallison@dacbeachcroft.com

Graham Ludlam

London - Walbrook

+44 (0)20 7894 6442

gludlam@dacbeachcroft.com

Francesca Muscutt

London - Walbrook

+44 (0)20 7894 6189

fmuscutt@dacbeachcroft.com

FedEx securities class action following the NotPetya cyberattack – implications for D&O insurance

By Francesca Muscutt

Cyber-security related incidents frequently grab the news headlines but the NotPetya cyberattack in June 2017, the largest reported cyberattack in history, demonstrated the impact such attacks can…

D&O and FI Newsletter - Autumn 2019's Tags

D&O and FI Newsletter - Autumn 2019

FedEx securities class action following the NotPetya cyberattack - implications for D&O insurance

Cyber- security related incidents frequently grab the news headlines but the NotPetya cyberattack in June 2017, the largest reported cyberattack in history, demonstrated the impact such attacks can have on otherwise unconnected businesses and organisations.

READ MORE

Commercial allocations of liability in the international commodities trade

Climate change for senior managers - Deadline for PRA risk management compliance passes

Earlier this year, the Prudential Regulatory Authority (“PRA”) published a supervisory statement (SS3/19) entitled “Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change”.

Are "claims made" policies legal in Peru?

Class Actions in the English Courts - Update

While class-actions are not (yet) a recognised key feature of the English legal system, as they are in the US or Australia, pressure is growing in the UK to allow collective or group litigation case, which appear to favour consumers rights or help promote access to justice.

These recent decisions support this growing trend.

READ MORE

Are SMEs leaving the door ajar allowing cyber-criminals to sneak in?

It has been well publicised that cyber-attacks have increased dramatically in recent years and that small and medium-sized enterprises (“SMEs”) in particular are vulnerable to such attacks.

READ MORE

Class actions in Australia - NSW Court of Appeal clarifies approach to aggregation clauses

The application of an aggregation provision remains a very fact specific and inherently unpredictable exercise.

However, the appeal decision suggests that a typical ‘related wrongful acts’ aggregation provisions will almost inevitably lead to aggregation in a representative proceeding if it is properly brought.

READ MORE

Authors

William Allison

Graham Ludlam

Francesca Muscutt

Next Article

FedEx securities class action following the NotPetya cyberattack – implications for D&O insurance

By Francesca Muscutt

< Back to articles

D&O and FI Newsletter - Autumn 2019

Cyber- security related incidents frequently grab the news headlines but the NotPetya cyberattack in June 2017, the largest reported cyberattack in history, demonstrated the impact such attacks can have on otherwise unconnected businesses and organisations.READ MORE

Earlier this year, the Prudential Regulatory Authority (“PRA”) published a supervisory statement (SS3/19) entitled “Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change”.

While class-actions are not (yet) a recognised key feature of the English legal system, as they are in the US or Australia, pressure is growing in the UK to allow collective or group litigation case, which appear to favour consumers rights or help promote access to justice.

These recent decisions support this growing trend.

It has been well publicised that cyber-attacks have increased dramatically in recent years and that small and medium-sized enterprises (“SMEs”) in particular are vulnerable to such attacks.

The application of an aggregation provision remains a very fact specific and inherently unpredictable exercise.

However, the appeal decision suggests that a typical ‘related wrongful acts’ aggregation provisions will almost inevitably lead to aggregation in a representative proceeding if it is properly brought.

Authors

William Allison

Graham Ludlam

Francesca Muscutt

FedEx securities class action following the NotPetya cyberattack – implications for D&O insurance

By Francesca Muscutt

Credit Suisse emergency rescue – lawsuits threatened after USD 17 billion Co-Co writedown

D&O and FI Newsletter - Autumn 2022

D&O and FI Newsletter - Spring 2022

D&O and FI Newsletter - Autumn 2021

Leeds City Council & others -v- Barclays Bank Plc & another [2021] EWHC 363 (Comm)

D&O and FI Newsletter - Spring 2021

Is the Employment Tribunal a Court? Insurers can be named in Employment Tribunal proceedings in place of insolvent insureds

D&O and FI Newsletter - Autumn 2020

D&O Insurance and the COVID-19 pandemic – claims and considerations for underwriters

Cum-Ex trading scandal in Germany – rapid developments after years of investigations

There is now a “dominant purpose” test for legal advice privilege – some practical points in the corporate and D&O context

VW sees largest UK class action

Ireland: the Consumer Insurance Contracts Act 2019

Nissan’s admissions and public shaming of Ghosn may have unintended insurance consequences

Insurability of fines and penalties in Spain

Organisations’ compliance programmes – a question of adequacy

The Court of Appeal rejects appeal in the UK’s first Unexplained Wealth Order

Fiduciary duties owed by a director survive insolvency Re System Building Services Group Limited (in liquidation) [2020] EWHC 54 (Ch)

Supreme Court upholds claim for Quincecare breach - Singularis Holdings Ltd v Daiwa Capital Markets Europe Ltd [2019]

Members behaving badly - the importance of D&O insurance for Clubs and Not-for-Profit organisations

Cyber- security related incidents frequently grab the news headlines but the NotPetya cyberattack in June 2017, the largest reported cyberattack in history, demonstrated the impact such attacks can have on otherwise unconnected businesses and organisations.

READ MORE