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<rss version="2.0"> <channel>  <title><![CDATA[Clayton Utz | Insurance and Risk - Publications]]></title>  <link>http://www.claytonutz.com/area_of_law/insurance_and_risk/publications.page</link>  <description/>  <copyright><![CDATA[(c) Clayton Utz 2009]]></copyright>  <image>   <title><![CDATA[Clayton Utz]]></title>   <link>http://www.claytonutz.com/</link>   <url>http://www.claytonutz.com/images/logo.png</url>  </image>  <language>en-au</language> <item><guid>http://www.claytonutz.com/publications/news/201007/14/proposed_australian_changes_to_capital_adequacy_requirements_for_insurers.page</guid><title><![CDATA[Proposed Australian changes to capital adequacy requirements for insurers]]></title><link>http://www.claytonutz.com/publications/news/201007/14/proposed_australian_changes_to_capital_adequacy_requirements_for_insurers.page</link><description><![CDATA[General and life insurers in Australia could face changes to the required and eligible capital standards, following the release of technical papers by the Australian Prudential Regulation Authority (APRA) for public comment.]]></description><pubDate>Wed, 14 Jul 2010 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/201007/12/is_it_a_bird_is_it_a_claim_whats_a_claim_under_professional_indemnity_insurance_policies.page</guid><title><![CDATA[Is it a bird, is it a claim? What's a claim under professional indemnity insurance policies?]]></title><link>http://www.claytonutz.com/publications/news/201007/12/is_it_a_bird_is_it_a_claim_whats_a_claim_under_professional_indemnity_insurance_policies.page</link><description><![CDATA[Professional indemnity insurance is usually underwritten on a claims made basis - but what is a "claim"? The NSW Supreme Court has reaffirmed the importance of looking to the policy for the answer (Dimitra Cassidy v Eric J Leslie [2010] NSWSC 742).]]></description><pubDate>Mon, 12 Jul 2010 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/201004/12/gordian_runoff_v_westport_important_for_the_insurance_industry_and_arbitration_users_in_all_sectors.page</guid><title><![CDATA[Gordian Runoff v Westport important for the insurance industry and arbitration users in all sectors]]></title><link>http://www.claytonutz.com/publications/news/201004/12/gordian_runoff_v_westport_important_for_the_insurance_industry_and_arbitration_users_in_all_sectors.page</link><description><![CDATA[The recent case of Gordian Runoff Limited v Westport Insurance Corporation [2010] NSWCA 57 gives arbitration users more confidence as to the finality of arbitral awards by confirming that the grounds for challenging an award are very limited.]]></description><pubDate>Mon, 12 Apr 2010 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/201003/31/the_dog_ate_my_insurance_policy-_so_who_has_to_prove_what_it_said_or_what_it_covered.page</guid><title><![CDATA[The dog ate my insurance policy - so who has to prove what it said or what it covered?]]></title><link>http://www.claytonutz.com/publications/news/201003/31/the_dog_ate_my_insurance_policy-_so_who_has_to_prove_what_it_said_or_what_it_covered.page</link><description><![CDATA[The High Court's decision in Wallaby Grip Limited v QBE Insurance on a missing insurance policy explains who has to establish its terms or any limits on the level of indemnity.]]></description><pubDate>Wed, 31 Mar 2010 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/201003/25/clearer_guidance_on_when_third_parties_can_access_corporate_insurance_policies.page</guid><title><![CDATA[Clearer guidance on when third parties can access corporate insurance policies]]></title><link>http://www.claytonutz.com/publications/news/201003/25/clearer_guidance_on_when_third_parties_can_access_corporate_insurance_policies.page</link><description><![CDATA[Shareholders or members of managed investment schemes who need to know if it makes financial sense to sue a company and its directors will take comfort from the recent decision in the WA Supreme Court, Snelgrove v Great Southern Managers Australia Ltd.]]></description><pubDate>Thu, 25 Mar 2010 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/201003/18/insurance_contracts_act_changes_finally_introduced_into_parliament.page</guid><title><![CDATA[Insurance Contracts Act changes finally introduced into Parliament]]></title><link>http://www.claytonutz.com/publications/news/201003/18/insurance_contracts_act_changes_finally_introduced_into_parliament.page</link><description><![CDATA[Five years after the review of the Insurance Contracts Act by Alan Cameron and Clayton Utz' Nancy Milne, and three years after the exposure draft bill was released, the Insurance Contracts Amendment Bill 2010 has been introduced into Parliament.]]></description><pubDate>Thu, 18 Mar 2010 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200912/07/double_insurance_double_the_fun_double_insurance_and_section_45_ica.page</guid><title><![CDATA[Double insurance, double the fun? Double insurance and section 45 ICA]]></title><link>http://www.claytonutz.com/publications/news/200912/07/double_insurance_double_the_fun_double_insurance_and_section_45_ica.page</link><description><![CDATA[The High Court's decision in Zurich Australian Insurance Ltd v Metals & Minerals Insurance Pte Ltd [2009] HCA 50 gives valuable guidance to the operation of section 45 of the Insurance Contracts Act.]]></description><pubDate>Mon, 07 Dec 2009 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200911/05/no_need_for_automatic_run-off_cover_for_afs_licensees_from_1_january_2010.page</guid><title><![CDATA[No need for automatic run-off cover for AFS licensees from 1 January 2010]]></title><link>http://www.claytonutz.com/publications/news/200911/05/no_need_for_automatic_run-off_cover_for_afs_licensees_from_1_january_2010.page</link><description><![CDATA[The Australian Securities and Investments Commission has relieved holders of an Australian Financial Services Licence from the need to hold 12 months of automatic run-off cover as part of their professional indemnity insurance policies.]]></description><pubDate>Thu, 05 Nov 2009 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200908/20/back-to-back_contracts_of_reinsurance_can_lead_to_face-off_in_court_if_not_drafted_correctly.page</guid><title><![CDATA["Back-to-back" contracts of reinsurance can lead to face-off in court if not drafted correctly]]></title><link>http://www.claytonutz.com/publications/news/200908/20/back-to-back_contracts_of_reinsurance_can_lead_to_face-off_in_court_if_not_drafted_correctly.page</link><description><![CDATA[Do "back-to-back" reinsurance contracts provide cover co-extensive with the insurance, particularly where similar terminology is used, particularly where insurance and reinsurance are subject to different governing law?]]></description><pubDate>Thu, 20 Aug 2009 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200907/07/access_to_insurance_policies_the_new_battleground.page</guid><title><![CDATA[Access to insurance policies: the new battleground]]></title><link>http://www.claytonutz.com/publications/news/200907/07/access_to_insurance_policies_the_new_battleground.page</link><description><![CDATA[Recent months have seen three major attempts by plaintiffs to get access to the insurance policies of companies and their directors targeted for litigation, and more are expected.]]></description><pubDate>Tue, 07 Jul 2009 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200905/13/life_insurers_prudential_regulation_to_change.page</guid><title><![CDATA[Life insurers' prudential regulation to change]]></title><link>http://www.claytonutz.com/publications/news/200905/13/life_insurers_prudential_regulation_to_change.page</link><description><![CDATA[APRA's regulation of life insurers is undergoing change, with the release of a discussion paper and draft prudential standards on audit and actuarial requirements, governance requirements and fit and proper requirements.]]></description><pubDate>Wed, 13 May 2009 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200904/15/whats_covered_and_whats_excluded_contracts_of_reinsurance_and_section_18b.page</guid><title><![CDATA[What's covered, and what's excluded? Contracts of reinsurance and section 18B]]></title><link>http://www.claytonutz.com/publications/news/200904/15/whats_covered_and_whats_excluded_contracts_of_reinsurance_and_section_18b.page</link><description><![CDATA[The NSW Supreme Court has confirmed that contracts of reinsurance are subject to the beneficial operation of section 18B of the NSW Insurance Act 1902 - and that exclusions and limitations have a precise meaning separate to the scope of cover (Westport Insurance Corporation v Gordian Runoff Limited [2009] NSWSC 245)]]></description><pubDate>Wed, 15 Apr 2009 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200904/08/shareholders_get_to_inspect_directors_and_officers_liability_insurance_policies.page</guid><title><![CDATA[Shareholders get to inspect Directors and Officers' liability insurance policies]]></title><link>http://www.claytonutz.com/publications/news/200904/08/shareholders_get_to_inspect_directors_and_officers_liability_insurance_policies.page</link><description><![CDATA[A court has ordered a company to allow a shareholder to inspect its D&O policies. Inspection was to help the shareholder decide whether it was worthwhile suing the company's directors. This does not mean that all D&O policies are now available for inspection by all shareholders, but it does represent a significant intrusion into the confidentiality of D&O arrangements]]></description><pubDate>Wed, 08 Apr 2009 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200902/26/making_your_mind_up_how_long_does_an_insurer_need_to_decide_to_pay_out_on_a_claim.page</guid><title><![CDATA[Making your mind up: how long does an insurer need to decide to pay out on a claim?]]></title><link>http://www.claytonutz.com/publications/news/200902/26/making_your_mind_up_how_long_does_an_insurer_need_to_decide_to_pay_out_on_a_claim.page</link><description><![CDATA[A recent decision sheds some light on how long an insurer has to make its decision on whether a policy responds without being liable to pay interest (McConnell Dowell Middle East LLC v Royal & Sun Alliance Insurance plc (No 2) [2009] VSC 49)]]></description><pubDate>Thu, 26 Feb 2009 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200902/11/one_insured_plus_one_loss_plus_two_insurers_equals_section_45_insurance_contracts_act.page</guid><title><![CDATA[One insured + one loss + two insurers = section 45 Insurance Contracts Act]]></title><link>http://www.claytonutz.com/publications/news/200902/11/one_insured_plus_one_loss_plus_two_insurers_equals_section_45_insurance_contracts_act.page</link><description><![CDATA[A party in a contract might be required to indemnify the other party. While this seems straightforward, it can lead to double insurance and some complex problems. The WA Court of Appeal's decision in Speno Rail Maintenance Australia Pty Ltd v Metals & Minerals Insurance Pte Ltd [2009] WASCA 31 (6 February 2009) gives some guidance about how these complex arrangements work, and the operation of section 45 of the Insurance Contracts Act]]></description><pubDate>Wed, 11 Feb 2009 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200812/18/new_prudential_framework_for_general_insurance_groups_finalised_by_apra.page</guid><title><![CDATA[New prudential framework for general insurance groups finalised by APRA]]></title><link>http://www.claytonutz.com/publications/news/200812/18/new_prudential_framework_for_general_insurance_groups_finalised_by_apra.page</link><description><![CDATA[The Australian Prudential Regulation Authority has released the latest tranche of prudential reforms, this time affecting Level 2 insurers, which are general insurance groups that have either an APRA-authorised general insurer or an APRA-authorised non-operating holding company as the parent entity of the group.]]></description><pubDate>Thu, 18 Dec 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200810/03/indemnity_insurance_liabilities_can_make_insurer_insolvent.page</guid><title><![CDATA[Indemnity insurance liabilities can make insurer insolvent]]></title><link>http://www.claytonutz.com/publications/news/200810/03/indemnity_insurance_liabilities_can_make_insurer_insolvent.page</link><description><![CDATA[An insurer who provides indemnities against paid losses may be legally insolvent if it is unable to pay liabilities which have been incurred but which are not yet payable.]]></description><pubDate>Fri, 03 Oct 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200809/11/clayton_utz_continues_legal_education_at_unsw.page</guid><title><![CDATA[Clayton Utz continues legal education at UNSW]]></title><link>http://www.claytonutz.com/publications/news/200809/11/clayton_utz_continues_legal_education_at_unsw.page</link><description><![CDATA[For the fifth year Clayton Utz is hosting a four-day intensive financial services program at the University of New South Wales. This course is postgraduate accredited and qualifies for MCLE points, and fuses practical and comprehensive analysis of the financial services sector.]]></description><pubDate>Thu, 11 Sep 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/docs/ThirdPartyBeneficiaries_Aug04.pdf</guid><title><![CDATA[The rights of third party beneficiaries under contracts of insurance &#8220; A time for change?]]></title><link>http://www.claytonutz.com/docs/ThirdPartyBeneficiaries_Aug04.pdf</link><description><![CDATA[This paper addresses some of the efforts to make third party beneficiaries under a contract of insurance less vulnerable, and whether there is a need for change.]]></description><pubDate>Mon, 18 Aug 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200807/30/what_do_you_know-and_should_you_have_known_it_exclusion_clauses_and_pi_insurance.page</guid><title><![CDATA[What do you know - and should you have known it? Exclusion clauses and PI insurance]]></title><link>http://www.claytonutz.com/publications/news/200807/30/what_do_you_know-and_should_you_have_known_it_exclusion_clauses_and_pi_insurance.page</link><description><![CDATA[Prospective insureds under professional indemnity policies are often asked about "known circumstances" when applying for cover - but what is a "known circumstance"? This can be a crucial question when insurers attempt to rely upon exclusion clauses. The High Court today gave important guidance - and found in favour of the insurer - in its decision in CGU Insurance Limited v Porthouse [2008] HCA 30 (30 July 2008).]]></description><pubDate>Wed, 30 Jul 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200806/20/businesses_interrupted_have_you_checked_your_cover.page</guid><title><![CDATA[Businesses interrupted: have you checked your cover?]]></title><link>http://www.claytonutz.com/publications/news/200806/20/businesses_interrupted_have_you_checked_your_cover.page</link><description><![CDATA[The Varanus Island gas plant explosion in WA is a timely reminder to check what risks businesses are insured against - or risk being out of pocket unnecessarily, national law firm Clayton Utz warns.]]></description><pubDate>Fri, 20 Jun 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200805/30/final_piece_of_dofis_reforms_falls_into_place.page</guid><title><![CDATA[Final piece of DOFIs reforms falls into place]]></title><link>http://www.claytonutz.com/publications/news/200805/30/final_piece_of_dofis_reforms_falls_into_place.page</link><description><![CDATA[The final tranche of DOFIs reform has just been released by the Australian Treasury - draft regulations establishing reporting requirements for AFSL holders who place business with DOFIs and the disclosure requirements to the insureds, under the exemptions.]]></description><pubDate>Fri, 30 May 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200804/14/praise_the_lords_hih_reinsurance_money_coming_home.page</guid><title><![CDATA[Praise the Lords: HIH reinsurance money coming home]]></title><link>http://www.claytonutz.com/publications/news/200804/14/praise_the_lords_hih_reinsurance_money_coming_home.page</link><description><![CDATA[After a legal battle lasting almost three years, HIH's UK reinsurance money is coming to Australia. On Wednesday night (Australian time), the House of Lords reversed two earlier decisions and held that proceeds of reinsurance policies taken out in the UK should be handed over to HIH's Australian liquidators.]]></description><pubDate>Mon, 14 Apr 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200804/09/dofis_exemptions_finalised.page</guid><title><![CDATA[DOFIs exemptions finalised]]></title><link>http://www.claytonutz.com/publications/news/200804/09/dofis_exemptions_finalised.page</link><description><![CDATA[Exemptions for direct offshore foreign insurers ("DOFIs") from the requirement to be authorised by APRA have been finalised by the Australian Treasury. Although the details have slightly changed, the general thrust of the exemptions is the same as that proposed in September last year.]]></description><pubDate>Wed, 09 Apr 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200804/08/apra_eases_up_on_recognition_of_reinsurance_recoverables.page</guid><title><![CDATA[APRA eases up on recognition of reinsurance recoverables]]></title><link>http://www.claytonutz.com/publications/news/200804/08/apra_eases_up_on_recognition_of_reinsurance_recoverables.page</link><description><![CDATA[Insurers should welcome the latest changes to APRA's package of refinements to the general insurance prudential framework, as they will allow unsecured reinsurance recoverables from non-APRA authorised reinsurers to be recognised.]]></description><pubDate>Tue, 08 Apr 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200802/19/can_a_company_indemnify_a_director_against_liability_for_insolvent_trading_debts.page</guid><title><![CDATA[Can a company indemnify a director against liability for insolvent trading debts?]]></title><link>http://www.claytonutz.com/publications/news/200802/19/can_a_company_indemnify_a_director_against_liability_for_insolvent_trading_debts.page</link><description><![CDATA[A director of failed reinsurer New Cap has failed to get an indemnity for a potential insolvent trading liability. The Court held that the company's standard director indemnity clause did not - and could not - cover a director's personal liability for insolvent trading by the company.]]></description><pubDate>Tue, 19 Feb 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200802/11/whats_a_payment_under_a_reinsurance_contract.page</guid><title><![CDATA[What's a payment "under" a reinsurance contract?]]></title><link>http://www.claytonutz.com/publications/news/200802/11/whats_a_payment_under_a_reinsurance_contract.page</link><description><![CDATA[Can the liquidator of an insurer avoid the requirement to forward reinsurance payouts to the parties it has insured? A recent NSW Supreme Court decision (re HIH Insurance Limited [2008] NSWSC 9) raises this tantalising possibility - but leaves some vital issues hanging in the air.]]></description><pubDate>Mon, 11 Feb 2008 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200712/20/apra_releases_latest_round_of_reforms.page</guid><title><![CDATA[APRA releases latest round of reforms]]></title><link>http://www.claytonutz.com/publications/news/200712/20/apra_releases_latest_round_of_reforms.page</link><description><![CDATA[Following its last package of refinements to the general insurance prudential framework on 31 July, APRA has released another set of reforms, including some responses to submissions on the last package. In this Alert we'll concentrate on some of the more noteworthy aspects of APRA's proposals, reinsurance recoverables, capital charges and kangaroo bonds.]]></description><pubDate>Thu, 20 Dec 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200710/10/harmonisation_of_asic_and_apra_breach_reporting_at_last.page</guid><title><![CDATA[Harmonisation of ASIC and APRA breach reporting at last!]]></title><link>http://www.claytonutz.com/publications/news/200710/10/harmonisation_of_asic_and_apra_breach_reporting_at_last.page</link><description><![CDATA[From 1 January 2008, entities regulated both by ASIC and APRA can submit a single breach report to APRA (which will act as ASIC's agent for that purpose) when they breach APRA's legislation or both APRA's and ASIC's legislation. In addition, the breach reporting requirements for APRA and ASIC regulated entities have otherwise been harmonised.]]></description><pubDate>Wed, 10 Oct 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200709/21/which_dofis_are_to_be_exempt_from_new_authorisation_requirements.page</guid><title><![CDATA[Which DOFIs are to be exempt from new authorisation requirements?]]></title><link>http://www.claytonutz.com/publications/news/200709/21/which_dofis_are_to_be_exempt_from_new_authorisation_requirements.page</link><description><![CDATA[A new discussion paper sets out the proposed new exemptions for direct offshore foreign insurers ("DOFIs") from the requirement to be authorised by APRA, with comments needed by 31st October.]]></description><pubDate>Fri, 21 Sep 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200708/30/what_can_you_do_with_a_fence-sitting_insurer.page</guid><title><![CDATA[What can you do with a fence-sitting insurer?]]></title><link>http://www.claytonutz.com/publications/news/200708/30/what_can_you_do_with_a_fence-sitting_insurer.page</link><description><![CDATA[Sometimes an insured can be in a hard place: possible claims on one side that you would like to settle, and uncertainty as to whether an insurer will step up. Yesterday the High Court gave some useful guidance on what you can do in that situation, and also clarified the meaning of insureds' and insurers' duty of "utmost good faith".]]></description><pubDate>Thu, 30 Aug 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200708/02/apra_reforms_released_for_public_comment.page</guid><title><![CDATA[APRA reforms released for public comment]]></title><link>http://www.claytonutz.com/publications/news/200708/02/apra_reforms_released_for_public_comment.page</link><description><![CDATA[A set of proposals released by Australia's prudential regulator APRA clarifies and modifies its regulation of insurers and reinsurers.]]></description><pubDate>Thu, 02 Aug 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200707/27/do_you_have_to_deny_cover_on_the_spot_or_can_you_wait.page</guid><title><![CDATA[Do you have to deny cover on the spot, or can you wait?]]></title><link>http://www.claytonutz.com/publications/news/200707/27/do_you_have_to_deny_cover_on_the_spot_or_can_you_wait.page</link><description><![CDATA[You're a life insurer and you discover your insured has not complied with his or her duty of disclosure. You'd like to avoid the contract, using section 29(3) of the Insurance Contract Act. Do you have to show that you would have denied cover on the spot if the insured had made full disclosure? Or can you still avoid the policy even if your hypothetical strategy would have been to get more information about the risk, and ultimately not have covered on any terms?]]></description><pubDate>Fri, 27 Jul 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200707/17/more_options_for_insureds_in_suing_for_damages.page</guid><title><![CDATA[More options for insureds in suing for damages]]></title><link>http://www.claytonutz.com/publications/news/200707/17/more_options_for_insureds_in_suing_for_damages.page</link><description><![CDATA[An insurer declines to indemnify the insured under a contract. What are the insured's options? A recent case has confirmed that insureds have a few options and can pursue them simultaneously without having to pick only one route - and recover more for all their losses.]]></description><pubDate>Tue, 17 Jul 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/docs/InsuranceReinsurance2006.pdf</guid><title><![CDATA[Insurance and Reinsurance Review 2006]]></title><link>http://www.claytonutz.com/docs/InsuranceReinsurance2006.pdf</link><description><![CDATA[Australia's mature insurance industry and regulatory systems need no major overhaul, merely refinement in response to industry developments. Our review of 2006 identifies the most important of these responses.]]></description><pubDate>Wed, 11 Jul 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200707/11/clayton_utz_in_the_running_as_insurance_law_firm_of_the_year.page</guid><title><![CDATA[Clayton Utz in the running as insurance Law Firm of the Year]]></title><link>http://www.claytonutz.com/publications/news/200707/11/clayton_utz_in_the_running_as_insurance_law_firm_of_the_year.page</link><description><![CDATA[Clayton Utz has been short-listed as a finalist in the 2007 Australia and New Zealand Insurance Industry Awards.]]></description><pubDate>Wed, 11 Jul 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200706/25/dofi_bill_strikes_balance.page</guid><title><![CDATA[DOFI bill strikes balance]]></title><link>http://www.claytonutz.com/publications/news/200706/25/dofi_bill_strikes_balance.page</link><description><![CDATA[The long-awaited bill regulating activities of direct offshore foreign insurers ("DOFIs") in Australia has finally been released. Although the broad aspects of the Bill were released on 3 May, we've had to wait for the Bill before fully understanding how it will strike a balance between the need to regulate DOFIs and the need for local insureds to be able to access international insurance.]]></description><pubDate>Mon, 25 Jun 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200706/13/third_parties_claims_on_insurance_moneys_in_nsw_dont_extend_to_claims_made_policies.page</guid><title><![CDATA[Third parties' claims on insurance moneys in NSW don&#8482;t extend to claims made policies]]></title><link>http://www.claytonutz.com/publications/news/200706/13/third_parties_claims_on_insurance_moneys_in_nsw_dont_extend_to_claims_made_policies.page</link><description><![CDATA[NSW has a law giving third parties so-called direct access to insurance moneys, creating a charge over those moneys. How far does this go? Not as far as you might think, following a decision by the NSW Court of Appeal.]]></description><pubDate>Wed, 13 Jun 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200706/05/how_much_will_cancelling_that_policy_cost.page</guid><title><![CDATA[How much will cancelling that policy cost?]]></title><link>http://www.claytonutz.com/publications/news/200706/05/how_much_will_cancelling_that_policy_cost.page</link><description><![CDATA[It depends who's cancelling - the insurer or the insured.]]></description><pubDate>Tue, 05 Jun 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200704/18/the_known_knowns_and_unknown_knowns_in_pi_policies.page</guid><title><![CDATA[The known knowns and unknown knowns in PI policies]]></title><link>http://www.claytonutz.com/publications/news/200704/18/the_known_knowns_and_unknown_knowns_in_pi_policies.page</link><description><![CDATA[Prospective insureds under professional indemnity policies are often asked about "known circumstances" when applying for cover - but what is a "known circumstance"? What must the insured know or think? The NSW Court of Appeal has just provided some guidance in CGU Insurance Ltd. v Porthouse [2007] NSWCA 80.]]></description><pubDate>Wed, 18 Apr 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200704/12/court_clarifies_scope_of_do_indemnities.page</guid><title><![CDATA[Court clarifies scope of D&O indemnities?]]></title><link>http://www.claytonutz.com/publications/news/200704/12/court_clarifies_scope_of_do_indemnities.page</link><description><![CDATA[Do directors' indemnity deeds require companies to fund directors who take personal defamation actions? Or are the indemnities limited to defence? The NSW Court of Appeal's decision in NRMA v Whitlam has clarified the scope of the company indemnity considered in that case and will provide guidance in this area.]]></description><pubDate>Thu, 12 Apr 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200702/27/landmark_survey_reveals_asia_pacific_product_liability_hotspots.page</guid><title><![CDATA[Landmark survey reveals Asia Pacific product liability hotspots]]></title><link>http://www.claytonutz.com/publications/news/200702/27/landmark_survey_reveals_asia_pacific_product_liability_hotspots.page</link><description><![CDATA[Don't ignore product liability risks in Asia, but don't be unduly alarmed about becoming embroiled in litigation.]]></description><pubDate>Tue, 27 Feb 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200702/15/its_finally_here_the_draft_bill_to_amend_the_insurance_contracts_act.page</guid><title><![CDATA[It's finally here: the draft bill to amend the Insurance Contracts Act]]></title><link>http://www.claytonutz.com/publications/news/200702/15/its_finally_here_the_draft_bill_to_amend_the_insurance_contracts_act.page</link><description><![CDATA[More than two and a half years after the final report of the Review of the Insurance Contracts Act, the Government has released a draft bill embodying most - but not all - of the changes coming from the report. During that time, there have been extensive consultations with the insurance industry and consumer groups, so the draft bill may be very close to the final version. In this Alert we'll highlight some of the main changes.]]></description><pubDate>Thu, 15 Feb 2007 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200611/08/the_arbitration_clause_in_my_reinsurance_treaty_will_work_wont_it.page</guid><title><![CDATA[The arbitration clause in my reinsurance treaty will work, won't it?]]></title><link>http://www.claytonutz.com/publications/news/200611/08/the_arbitration_clause_in_my_reinsurance_treaty_will_work_wont_it.page</link><description><![CDATA[Arbitration clauses in reinsurance treaties don't bind non-life reinsureds in NSW, meaning that disputes between reinsureds and reinsurers are more likely to end up in the courts. The NSW Supreme Court's decision could also affect reinsureds in other States.]]></description><pubDate>Wed, 08 Nov 2006 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200610/10/31_december_deadline_for_comment_on_apra_changes.page</guid><title><![CDATA[31 December deadline for comment on APRA changes]]></title><link>http://www.claytonutz.com/publications/news/200610/10/31_december_deadline_for_comment_on_apra_changes.page</link><description><![CDATA[The Australian Prudential Regulation Authority ("APRA") has released a flurry of draft and finalised prudential standards in the last 10 days. Particularly for general insurers and life insurers, the changes should ease the compliance burden. We look briefly at the key changes below.]]></description><pubDate>Tue, 10 Oct 2006 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200608/23/docking_the_reinsurance_tail_first_solvent_schemes_of_arrangement_with_australian_liabilities.page</guid><title><![CDATA[Docking the reinsurance tail: first solvent schemes of arrangement with Australian liabilities]]></title><link>http://www.claytonutz.com/publications/news/200608/23/docking_the_reinsurance_tail_first_solvent_schemes_of_arrangement_with_australian_liabilities.page</link><description><![CDATA[The first solvent schemes of arrangement for Australian reinsurance liabilities have received Federal Court approval. Under the schemes, NRG London Reinsurance Company Ltd and NRG Victory Australia Ltd will be able to accelerate payment of future liabilities under their now-discontinued reinsurance businesses. This will allow them to truncate the otherwise lengthy run-off period for their reinsurance businesses.]]></description><pubDate>Wed, 23 Aug 2006 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200608/17/speedy_insurance_payouts.page</guid><title><![CDATA[Speedy insurance payouts]]></title><link>http://www.claytonutz.com/publications/news/200608/17/speedy_insurance_payouts.page</link><description><![CDATA[An Australian first to facilitate faster settlement of reinsurance claims has just received court endorsement.]]></description><pubDate>Thu, 17 Aug 2006 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200608/08/directors_indemnities_is_offence_unexpectedly_the_best_form_of_defence.page</guid><title><![CDATA[Directors' indemnities: is offence, unexpectedly, the best form of defence?]]></title><link>http://www.claytonutz.com/publications/news/200608/08/directors_indemnities_is_offence_unexpectedly_the_best_form_of_defence.page</link><description><![CDATA[Two (not so) simple questions: Does your indemnity deed require you to pay the costs of personal legal actions begun by your directors and officers? Does your D&O insurance cover all the indemnities that you've given to your directors and officers?]]></description><pubDate>Tue, 08 Aug 2006 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200605/17/corporate_governance_for_adis_and_insurers-are_you_already_complying.page</guid><title><![CDATA[Corporate governance for ADIs and insurers - are you already complying?]]></title><link>http://www.claytonutz.com/publications/news/200605/17/corporate_governance_for_adis_and_insurers-are_you_already_complying.page</link><description><![CDATA[From 1 October 2006, life insurers, general insurers, and authorised deposit-taking institutions (ADIs) must comply with APRA's new prudential standards on corporate governance. While there has been some concern in the press about the new obligations, in essence they capture what most institutions already do.]]></description><pubDate>Wed, 17 May 2006 00:00:00 EST</pubDate></item><item><guid>http://www.claytonutz.com/publications/news/200604/07/what_is_an_insurers_liability_in_australia.page</guid><title><![CDATA[What is an insurer's "liability in Australia"?]]></title><link>http://www.claytonutz.com/publications/news/200604/07/what_is_an_insurers_liability_in_australia.page</link><description><![CDATA[An insurer (or reinsurer) goes into liquidation in Australia. Do Australian insureds get priority in the distribution of the assets, or must they take their chances along with other creditors? This turns on what are an insurer's "liabilities in Australia". The High Court today said that "liabilities in Australia" has a broad meaning, including all liabilities as defined under the Insurance Act 1973 and those which the law would otherwise consider to have arisen, in the course of business, in Australia.]]></description><pubDate>Fri, 07 Apr 2006 00:00:00 EST</pubDate></item></channel></rss>