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Energy

Published on 14 Jan 2025. By Toby Savage, Partner and Alex Almaguer, Partner, Head of Latin America and William Jones, Of Counsel

In last year's Annual Insurance Review, we anticipated that we would see further growth in hydrogen power and that the renewable energy insurance market would continue to respond to this.

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Climate risk and biodiversity

Published on 14 Jan 2025. By Lucy Dyson , Partner

2024 closed with the conclusion of COP29 and COP16 conferences. COP29 continued discussions in relation to financing greener energy projects and compensation of developing countries in the Global South for loss and damage as a result of extreme weather events.

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Financial institutions

Published on 14 Jan 2025. By Rebecca James, Associate and James Wickes, Partner and Ben Gold, Partner and Mike Newham, Partner and Carmel Green, Partner

As we predicted last year, ESG continues to be a source of risk for financial institutions. On 31 May 2024, the Financial Conduct Authority's anti greenwashing rule came into effect. The rule applies to all FCA-authorised firms, including UK asset managers, who make sustainability related claims about financial products and services. Under the rule, sustainability related claims must be fair, clear, and not misleading. In addition, the FCA has introduced naming and marketing requirements for asset managers, differentiating between products that have sustainability objectives and use a label, and products that have sustainability characteristics but do not use or qualify for a label. Following consultation in 2024, the rule looks set to be extended to portfolio managers in Q2 2025.

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Construction

Published on 14 Jan 2025. By Alan Stone, Partner and Ben Goodier, Partner and Tom Green, Partner and Zoe Eastell, Partner

This year the new Leasehold and Freehold Reform Act 2024 (the LFRA) enacted various amendments to the Building Safety Act 2022 (BSA), which came into force on 24 July 2024 and 31 October 2024.

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Contingency

Published on 14 Jan 2025. By Naomi Vary, Partner and Robert Morris, Partner

The contingency chapter of the Annual Insurance Review returns after a break. At the time of the 2022 update we expected the events market to rebound following the pandemic, although there remained lingering questions regarding entry requirements. Moving to 2024, the COVID restrictions appear to be a thing of the past, with attendance at events depending on a personal risk assessment rather than a vaccine passport or negative test. Despite the inevitable litigation following declinature of COVID claims, events and the contingency market have returned to normality.

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Financial professionals

Published on 14 Jan 2025. By Esme Watson, Senior Associate and Rachael Healey, Partner and David Allinson, Partner and Antony Sassi, Managing Partner

In March 2024 the FCA published the findings from its Thematic Review of retirement income advice, looking at the landscape c. 9 years post-pension freedoms against the backdrop of an ageing population. No fundamental problems were identified but the FCA set out some areas for improvement, from more consistent fact finding to considering the value being provided in respect of any ongoing services.

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Accountants

Published on 14 Jan 2025. By Patrick Paper-Barclay, Senior Associate

A key trend for the accounting world in 2024 was the sheer number of corporate insolvencies, and the knock-on effect of this in terms of claims against accountants. The number of corporate insolvencies continued to build upon the record levels already seen in 2023, which saw the highest number of annual corporate insolvencies for 30 years. The Insolvency Service's Annual Report in July 2024, for example, reported almost 11,000 new insolvency cases in the previous 12 months, an increase from just over 9,000 the previous year.

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General liability

Published on 14 Jan 2025. By Charles Appleby, Senior Associate and Gavin Reese, Partner, Head of Regulatory and Fiona Hahlo, Partner and Mamata Dutta, Partner and Thom Lumley, Partner

This has been a dramatic year for cases involving fundamental dishonesty. In Williams-Henry v Associated British Ports Holdings Ltd, the King's Bench Division found that the Claimant, who had suffered a moderately severe brain injury, had dishonestly exaggerated her symptoms and attempted to inflate the value of her claim by over £1million. Although liability was admitted and, but for her dishonesty, she would still have been entitled to damages just under £600,000, the Court dismissed the whole of her claim. The Judge found that, given the extent of her deception, there would be no substantial injustice to the Claimant by her losing the genuine elements of her claim along with the dishonest ones.

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Cyber and data

Published on 14 Jan 2025. By Elizabeth Zang, Associate and Richard Breavington, Partner and Daniel Guilfoyle, Partner and Rachel Ford, Partner and Jonathan Crompton, Partner

Last year's edition of the Annual Insurance Review included predictions that 2024 would see a trend towards an increased general level of cyber security given (i) the importance placed on security measures by regulatory bodies such as the ICO and (ii) the focus cyber underwriters had placed on assessing prospective insureds' security before offering cover.

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Health and Safety

Published on 14 Jan 2025. By Gavin Reese, Partner, Head of Regulatory and Fiona Hahlo, Partner and Thom Lumley, Partner and Mamata Dutta, Partner

As the single greatest cause of work-related deaths due to past exposure (according to HSE's Annual health and safety statistics 2024.

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International arbitration

Published on 14 Jan 2025. By Ana Margetts, Associate (New Zealand qualified) and Jonathan Wood, Partner, Chair of International Arbitration

The Arbitration Bill received its first and second readings in parliament in July 2024. Having first come before parliament in September 2023 under the UK's then Conservative government, it will once again proceed through the House of Lords and House of Commons, before receiving Royal Assent and becoming law.

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Art & specie

Published on 14 Jan 2025. By Karen Barnard-Taylor, Senior Associate

Following reports in 2023 that the British Museum had discovered that around 2,000 artefacts were either lost or damaged, it has this year concluded its internal investigation. The Museum found that it had not been compliant with UK legislation regarding how such artefacts should be kept. The Public Records Act requires all UK museums and libraries to meet basic standards of preservation, access and professional care. The consequences of such failings can mean collections being transferred elsewhere or handed over to the National Archives, although it seems the British Museum may be spared this outcome. The Museum is working with the National Archives to ensure their future compliance. This will include the introduction of new policies, such as defining what comprises its collection, introducing a policy for registering items, and improving its policy for reporting unlocated items.

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Intellectual property

Published on 14 Jan 2025. By Ciara Cullen, Partner, Retail & Consumer Sector Lead and Joshua Charalambous, Partner

Since our 2021 Review we have returned frequently to Sky v Skykick, a trade mark dispute that has been ongoing since 2016. In November 2024, the Supreme Court overturned the decision of the Court of Appeal (see here) finding that an inference of bad faith may be drawn if sufficient evidence exists – as there was in this case – that the applicant had never had any intention to supply or provide certain goods or services for which it sought trade mark protection. Once an inference of bad faith has been drawn, this may prove grounds for a mark to be wholly or partially invalidated.

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Aviation

Published on 14 Jan 2025. By Naomi Vary, Partner

In this this inaugural aviation chapter of the Annual Insurance Review, it would be impossible not to focus on the continuing upheaval wrought by the Russian invasion of Ukraine. The aviation industry, which had largely weathered the disruption of the Covid pandemic, has been faced with new challenges since February 2022. Closure of European airspace to Russian aircraft, and of Russian airspace to aircraft from "unfriendly" countries, has forced route networks to adapt. Western sanctions which prohibited the supply of aircraft to Russian airlines have derailed longstanding relationships between Western aircraft lessors and their Russian customers. Prohibitions on the provision of insurance have similarly impacted aviation business models.

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Legal practices

Published on 14 Jan 2025. By Richard Breavington, Partner and Daniel Guilfoyle, Partner and Jonathan Crompton, Partner

A crumbling regulator? The SRA is facing difficult questions about its effectiveness as a regulator in the wake of the collapse of Axiom Ince, which led to the disappearance of £62million and the loss of around 1,400 jobs. Initially Insurers received a flood of claims totalling around £33million. In an unpopular move, the SRA announced the profession will cover the loss through a 270% rise in contributions to the Compensation Fund.

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Life sciences

Published on 14 Jan 2025. By Dorothy Flower, Partner

COVID-19 continued to dominate life sciences headlines in 2024. The COVID-19 Inquiry has continued in earnest. Module 3, which focussed on the impact of the pandemic on healthcare systems has recently concluded. Damning evidence has been heard about the immense toll on healthcare staff, and the detrimental impact on NHS waiting times.

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Marine and shipping

Published on 14 Jan 2025. By Iain Anderson, Partner and Toby Savage, Partner

Two words are dominating the shipping sector in 2024 – "shadow fleet". The shadow (or "dark" or "grey") fleet is a reference to vessels which transport oil and petrochemical cargoes on behalf of sanctioned countries. Western economies finance, operate and insure the vast majority of the world's merchant fleet. Expansion of US, EU and UK sanctions means that, in general, vessels carrying cargoes from sanctioned countries cannot operate within the usual international shipping infrastructure. They are forced to go "dark" in a far more opaque part of the shipping sector. Until 2022 the shadow fleet was relatively small – restricted mainly to the carriage of Venezuelan and Iranian oil/petrochemical cargoes. The Russian invasion of Ukraine in 2022 – and the expansion of international sanctions against Russia – has vastly increased the shadow fleet.

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Media

Published on 14 Jan 2025. By Dorothy Flower, Partner and Sian Morgan, Partner

The Online Safety Act 2023 (OSA) introduced a suite of obligations for "user-to-user" services and search engines which target the UK and/or have a significant number of UK users. In 2024, secondary legislation and Codes of Practice published by the regulator, Ofcom, began the process of giving the OSA practical effect.

Press and Media

What 6 key challenges will insurers face in 2024?

Published on 11 Jan 2024. By Simon Laird, Partner, Insurance Sector Lead

Climate change, Artificial Intelligence and ESG top this year's predictions in latest edition of Annual insurance review from international law firm RPC

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Annual Insurance Review 2024: Procedure damages & costs

Published on 11 Jan 2024.

In this chapter of our Annual Insurance Review 2024, we look at the main developments in 2023 and expected issues in 2024 for Procedure damages & costs.

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Annual Insurance Review 2024: Product liability

Published on 11 Jan 2024.

In this chapter of our Annual Insurance Review 2024, we look at the main developments in 2023 and expected issues in 2024 for Product liability.

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Annual Insurance Review 2024: Construction

Published on 11 Jan 2024. By Alan Stone, Partner and Ben Goodier, Partner and Tom Green, Partner and Zoe Eastell, Partner

In this chapter of our Annual Insurance Review 2024, we look at the main developments in 2023 and expected issues in 2024 for Construction.

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Annual Insurance Review 2023

Published on 12 Jan 2023. By Simon Laird, Partner, Insurance Sector Lead

Hello and welcome to RPC's Annual Insurance Review – a look back at the events that shaped the insurance market in 2022 and a look forward towards what to expect in 2023.

Press and Media

What are the 8 key concerns insurers will face in 2023?

Published on 12 Jan 2023. By Simon Laird, Partner, Insurance Sector Lead

Annual Insurance Review from international law firm RPC identifies ESG risks, climate change and cyber-attacks as top challenges.

General Content

FIG – The inclusive insurance network

General Content

Rise with RPC

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Generative Artificial Intelligence Risks for Litigation Lawyers

Published on 09 Jun 2025. By Nick Bird, Partner and Cheryl Laird, Senior Associate

In R (on the application of Frederick Ayinde) v The London Borough of Haringey AC-2024-LON-003062 the President of the King's Bench Division (Dame Victoria Sharpe) and Mr Justice Johnson gave judgment in two referrals that had been made under the Hamid jurisdiction. That jurisdiction is the court's inherent jurisdiction to regulate its own procedures and enforce the obligations that lawyers owe to it.

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Reverse-engineering and disassembly of IBM mainframe software in breach of software licence (IBM v LzLabs) – Part 2

Published on 19 May 2025. By Helen Armstrong, Partner and Oliver Sainter, Senior Associate

This second article on IBM v LzLabs explores the validity of IBM's audit request and subsequent termination of the ICA.

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Reverse-engineering and disassembly of IBM mainframe software in breach of software licence (IBM v LzLabs) – Part 1

Published on 19 May 2025. By Helen Armstrong, Partner and Oliver Sainter, Senior Associate

In IBM United Kingdom Ltd v LzLabs GmbH and others [2025] EWHC 532 (TCC), the High Court has provided useful guidance on what constitutes unlawful reverse engineering and the extent of the Software Directive's statutory exceptions to software copyright protection set out in the Copyright, Designs and Patents Act 1988 (the CDPA).

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