Hybrid sounds like a buzzword to us but today it is already a concept that we all use a lot, both we as employees in our private lives, employers and organizations. What has happened to us in the past year and the hybrid life we have adopted is not just another buzz word but is […]
The highly publicised legal dispute between British insured and the Financial Conduct Authority concerning whether insurers will be forced to indemnify policyholders for business interruption losses suffered as a result of the various government-imposed lockdowns has now finally been settled by the UK Supreme Court. They upheld the original judgment of the UK high court […]
We have prepared a report detailing recent events in Africa and Asia which may be of interest.
Heavy rainfall led to extensive damage and humanitarian impacts across Somalia during the second half of June through July. Four people were killed. Among the hardest-hit areas came in the Shabelle River basin as nearly 200,000…
In June 2020, Klapton concluded the issuance of a Residual Value Guarantee Cover Note to a privately held ship owning entity. This briefing paper explains the bespoke nature of how the Cover was structured and has been drawn up as a means of assisting our partners, customers and readership in the understanding of the RVG product and its application in real asset investment proposals.
Major court decisions underway in South Africa, Australia, and the United Kingdom Business Interruption is a section in a commercial policy (either standard commercial, assets, hospitality, or agriculture policies) that covers loss of profits or increased cost of working for a company as a result of an interruption caused to their business. Normally the interruption […]
Pandemic redefines the commercial and legal risk landscape We are more than 60 days into the national lockdown and the number of infections in South Africa now exceeds 24 000. And we have only just transitioned from a situation where only essential service providers were permitted to operate, to a slightly softer lockdown under level […]
The pandemic of COVID-19 has impacted the world probably more than any other event since the second world war. Not since 1945 have we literally seen the entire world affected and disrupted as it is now. More than half the world’s population is in some kind of lockdown and are restricted in their economic and […]
With careful due diligence outsourcing is still a very effective way of providing quality service to customers There are many reasons for Insurers, if and when they decide to outsource functions that are integral to the various insurance products that they sell. Circumstances have changed a lot over the years from the time when Insurers […]
It is possible to mitigate against the risks inherent in the industry The ship finance landscape has changed fundamentally over the past decade since the turmoil in the global financial markets and the beginning of the shipping crisis. Several then-industry leading banks have exited or significantly scaled down their shipping activities amid soaring losses. Historically […]
Policyholder requests for information must be given Failure to carry out a client’s instructions: Where a client has signed the necessary authority for another broker to obtain sufficient information on his policies to provide another quote, you may not refuse to provide ALL information requested by the other and this includes replacement advise as well […]