Legal Page - Legal issues for the global reinsurance markets in 2009?
Source: Asia Insurance Review | Feb 2009
It could be said that 2008 saw the “perfect storm”. The sub-prime debacle transformed into a financial crisis of mammoth proportions. Hurricanes Ike and Gustav created high, if not record-breaking, losses. The repercussions of these events will be felt into 2009. Terrorism still looms large. Emerging exposures, such as climate change and nano-technology add to this. The regulators’ response will also impact upon the insurance industry. While hardening rates give some cause for optimism, there are many pressures upon the industry. Mr David Abbott, Partner, and Mr Daniel Futter, Associate, in the Commercial Risk and Reinsurance team at Barlow Lyde & Gilbert LLP, survey some of the legal issues which are likely to arise in 2009.
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