FOIL to focus on marine, environment insurance challenges
The Forum of Insurance Lawyers (FOIL) and London FOIL, which focuses on the Lloyd's market and the global re/insurance sector, has launched two new teams for marine and environment insurance.
FOIL said it aims to address some of the global issues plaguing the marine and environmental sectors, such as the large number of marine vessels that are decommissioned and recycled in ways contrary to international law and the damage this causes to the environment.
On top of London FOIL’s marine team will be looking into some of the sector’s challenges from underlining where liability lies for mis-declared cargo, to the increasing size of cargo ships and liability for breaches of the Emissions Regulations 2020.
FOIL’s environmental team will focus on global issues related to insurers' preparedness to combat climate change, as well as on green energy investment, and the associated risk and liability issues.
FOIL chief executive Laurence Besemer said: “There is no escaping the onslaught of climate change and the public pressure being placed on the global insurance market to do the right thing – this brings about unprecedented challenges. By bringing together the sector’s leading experts under one umbrella, FOIL is well-placed to support the insurance industry and tackle some of the biggest challenges facing the sector."
He added: “The London Marine Insurance market is one of the oldest and largest in the world and we are proud to be launching a new team to support this market as it navigates a post-Covid world. Whilst insurers and their legal advisers will of course want to differentiate themselves from one another in their approach, there is an understanding that when it comes to the biggest issues facing business, the most important thing is consensus. We must all work together to overcome future hurdles – and this is precisely what these new teams are set up to offer.”
