As the risks insurers and reinsurers grapple with become more complex, the industry needs more specialist legal help. Intelligent Insurer speaks to the team at law firm Patton Boggs about how they see the industry changing.
The re/insurance industry is becoming ever more global and the risks it covers increasingly complex in their nature. As such, the role of specialist lawyers able to understand and advise on such specific issues is also becoming more important.
Lawyers at the international law firm Patton Boggs have advised insurers and reinsurers for 30 years on a range of complex disputes involving regulatory, legal and coverage issues. Larry Schiffer, a partner in the firm, who specialises in insurance and reinsurance disputes, says the legal requirements of the industry are changing fast.
“Reinsurance disputes rarely end up in full litigation these days, as parties prefer to settle disputes out of court or through arbitration,” says Schiffer. “The use of specialist external legal counsel can be crucial, however, in helping businesses to understand the strength of their legal position—and thus to decide on how aggressively they might negotiate out of court.”
To continue reading, you need a subscription to Intelligent Insurer. Start a subscription today for £655.
In-house feature articles, the archive and expert comment require a paid subscription. Subscribe now.
Want to give it a try? We are offering a two week free trial to the Intelligent Insurer website – register and select “Two Week Free Trial” to begin access to the full Intelligent Insurer archive and read the latest news, features and expert comment. Begin your free trial here.
Is your 2 week free trial about to end? Upgrade to a 12 month subscription for £655 now.
If you have already subscribed please login.
If you have any technical issues please contact support.
Reinsurance, Insurance, Legal, Patton Boggs, Insurance disputes, Lines of business, Run-Off