+ All Categories
Home > Documents > You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks -...

You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks -...

Date post: 07-Oct-2020
Category:
Upload: others
View: 5 times
Download: 0 times
Share this document with a friend
16
You, insurance & Ince , in any case incegd.com Europe & Middle East & Asia Insurance / 2020
Transcript
Page 1: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

You, insurance & Ince, in any case

incegd.com

Europe & Middle East & Asia

Insurance / 2020

Page 2: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

Ince

In this fast-paced

world you are seeking

a pro-active business

services partner that

moves your company

forward, someone

who understands

your challenges and

the importance of

commitment.

Meet Ince, your trusted

partner, in any case.

From our offices in Europe, the Middle East

and Asia, our dedicated team of legal and

business services professionals can guide

you in developing and delivering on your

roadmap for sustainable success and

provide you with advice that will not only

safeguard your business interests but

ensure you reap commercial rewards.

01

Providing you with strategic guidance and well considered

advice, we are renowned for the depth and breadth of our

legal services and our understanding of the industries in

which you operate. We recognise your needs and offer

business focused legal services, together with advice that

makes commercial sense.

One firm, in any case

With nearly 150 years of experience, we have cultivated a

seamless ‘one-firm’ approach that is tailored to your personal

needs and pairs you with the best legal and strategic business

professionals in your field; whenever, wherever, and in

any case.

Support, every step of the way

By leveraging our sector expertise, legal skills and market

experience, you can feel safe in the knowledge that we will

both handle complex legal issues on your behalf while

providing you with expert strategic advice when the

need arises.

countries offices different

language

capabilities

employees

worldwide,

including

support staff

legal and

business services

professionals

multiple

nationalities7 14 30 800+ 500+

Insurance / 2020

Page 3: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

Our range of services include:

- Corporate & Regulatory

- Marine

- Energy

- Property & Construction

- Reinsurance & Alternative Risk Transfer (ART)

- Speciality

- Political Risk & Trade Credit

We recognise that pricing must be a collaborative process,

with you at the centre. We guarantee to reflect your

priorities and to give you value for money through innovative

pricing models.

Ince Insurance / 2020

We are one of the leading

specialist insurance and

reinsurance firms in the world

with deep roots in the London

and international markets.

Whatever your challenge, we will

be there to help you meet it.

02

We are outcomes driven, focusing on your commercial objectives and reputation.

From Afghanistan to Zambia, we have dealt with claims across the globe.

We have market leading expertise in multiple classes of business.

Our specialist insurance and reinsurancelawyers have deep sector knowledge.

Our team ethos leads to you receiving anunrivalled quality of service.

We are value driven in the way we handle cases.

Page 4: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

Commercial

As a firm specialising in the insurance sector, we are able to

advise you across the full ‘lifecycle’ of insurance including:

- underwriting

- fronting and distribution agreements

- legacy arrangements

Our practice covers:

- life and general insurance (both for insurers and brokers)

- alternative risk transfer

- captive insurance

- reinsurance solutions

- Lloyd’s

Regulatory

We offer a full range of insurance regulatory advice on:

- prudential and conduct of business matters

- doing business into or out of a country (for example the

use of EEA passport rights)

- regulatory proceedings

- Lloyd’s, both underwriting and distribution

“the team is strong on regulatory

issues, advising a number of

significant insurers in the market”

— Legal 500

Ince Insurance / 2020

Corporate & Regulatory

Our Corporate Insurance team has the specialist industry

knowledge, geographic reach, experience and reputation in

the insurance market that few firms can match. The team

comprises lawyers from Europe, MENA and the Asia-Pacific

region, each of them specialising in insurance work in their

particular jurisdiction.

We advise insurers, reinsurers, brokers, run-off

companies/discontinued businesses, third party advisers and

large financial institutions that conduct insurance business.

We also assist Lloyd’s members, managing agents, brokers

and policyholders.

Corporate

Our considerable experience and industry-focused expertise

enables us to provide you with M&A or transactional advice,

domestic or cross-border, through:

- share or business transfer

- joint ventures

- scheme of arrangement or other form of transfer

Our team will advise and guide you through all stages of the

process, including pre-acquisition due diligence and planning,

negotiation, drafting the documentation and subsequent

integration.

03

Page 5: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

Corporate and regulatory

Our services relating to the creation and management of your

MGA include:

- Start-up and establishment of MGA structures

- Regulatory advice on prudential and conduct of business

matters

- Dealing with compliance issues and ongoing corporate

obligations

- M&A and transactional advice (including advising onshare

sales, assets sales, joint ventures, schemes of arrangement

or other structures)

- Advising on the run-off and wind-up of MGAs

- Implications of Brexit

Insurance Advisory

- Our broad expertise working with all kinds of

stakeholders within the insurance market means we can

deliver high quality and commercial advice on a wide

range of matters. We can help you with:

- Product concepts and structuring of the insurance and

reinsurance programmes

- Drafting policy wordings, TOBAs, binding authorities,

underwriting and claims protocols

Claims

Our deep understanding of the risks our clients face, enables

us to support our clients in all issues that arise when dealing

with claims. We can advise you on large, complex and

commercially sensitive disputes but are also adept at dealing

with lower value matters on a cost effective basis. Our team

can advise you on:

- Policy coverage issues

- Claims and litigation

- Subrogated recovery actions

General Commercial & Other

We recognise that there are number of different issues that

affect businesses in the insurance market, just as they do

businesses in other sectors. Our full service offering enables

us to provide broader services to your business always

keeping in mind the specific concerns for MGAs and

coverholders specifically. We can advise on:

- General commercial agreements and arrangements, such

as IT contracts, service agreements and other forms of

outsourcing

- Employment issues, both contentious and non-

contentious

- Real estate issues arising for your business, including

advising on any leasing arrangements for office space

- Intellectual property and data protection

Ince Insurance / 2020

Captives

Our specialist insurance and reinsurance expertise, coupled

with our extensive regulatory knowledge and transactional

experience, means that we are able to provide an exceptional

service to captive insurers, their owners and managers.

Whatever the economic rationale for your captive, we are

able to advise you across the full ‘life-cycle’ of your project.

We will ensure that your overall interests and objectives are

covered in all matters relating to the captive, including set-up,

operation, claims and dispute resolution.

Our services relating to the creation and management of your

captive include:

- Drafting documentation

- Providing jurisdiction-neutral advice on where and how to

set up

- Dealing with compliance issues and ongoing corporate

obligations

But we can help you far beyond this. We are focussed on

ensuring that captive structures work efficiently and

effectively throughout their life-cycles. Our specialist team

has extensive experience of captives-related dispute

resolution. We are able to draw on that experience to ensure

that a captive’s insurance and reinsurance programme

responds as and when it should be expected to, thereby

avoiding problems when it comes to complex claims. This

includes advising on:

- Structuring of the insurance and reinsurance programmes

- Policy wordings

- Global programmes and appropriate fronting

arrangements

- Protected or segregated cell companies

- Management of claims under your reinsurance

programmes

- We also advise on the run-off and wind-up of captives

Delegated underwriting

Delegated underwriting plays a vital and growing part in the

insurance distribution chain. Establishing a Managing General

Agency (MGA) or a Coverholder arrangement is an efficient

and flexible way to provide innovative products, pool

underwriting expertise and provide insurance carriers with

opportunities to access niche markets.

Our specialist insurance and reinsurance and corporate

expertise, coupled with our extensive experience in the

market, means that we are able to provide an exceptional

service to MGAs and coverholders. We are able to advise you

across the full ‘life-cycle’ of your project and ensure that your

overall interests and objectives are covered in all matters

including set-up, operation, claims, dispute resolution and

exit. 04

Page 6: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

By their nature, marine insurance claims may arise anywhere

in the world. Our network of overseas offices and strong

relationships elsewhere provides us with a global reach,

affording us worldwide local expertise.

In addition to our dispute resolution capabilities, having

drafted many of the market’s most popular standard

wordings, we also advise clients on new policy wordings from

‘seamless’ covers for marine intermediaries and service

providers to specialist ‘crossover’ topics with our shipping

practice.

“...Has been involved in most of

the leading cases in the evolution

of insurance and reinsurance

law… and virtually every major

maritime casualty.”

— Chambers & Partners

Ince Insurance / 2020

Marine insurance

Our insurance and reinsurance expertise and maritime

background, complemented by the skills of our Admiralty,

Energy, International Emergency Response and Pollution

practitioners, enables us to provide a pre-eminent service to

all parts of the insurance community.

We provide contentious and advisory services to Lloyd’s and

London marine (re)insurance companies, international and

specialist insurance providers, international broking houses

and intermediaries, captives, ship owners, charterers and

cargo owners.

Our established marine insurance practice covers the full

spectrum of expertise including:

- Hull and machinery

- Cargo and freight

- Builders’ risks

- Mortgagee’s interest

- Strikes

- War and terrorism

- Owners, charterers and ship repairers liability insurance

- P&I

As a top shipping law firm, we boast an extremely well

established casualty investigation practice where we act for

owners and the market jointly. Further, our maritime

grounding means that in addition to providing specialist legal

advice, we are able to provide real commercial insight and

technical understanding.

05

Page 7: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

Energy Downstream

- Refining

- Generation

- Mining

- LNG

- Renewables

Engineering

- Petrochemicals

- Waste Treatment

- Tunnelling

- Railways

- Health & Safety

- Machine Breakdown

- Project construction

Marine Transportation Risks

- Hull/Project Cargo/Cargo

- Loss of Hire

- Builders’ Risks

- Mortgagees’ Interest

The nature of the underlying issues varies from the

catastrophic to the day to day incidents associated with

heavy industry operating in harsh conditions and at the

cutting edge of technology.

We are widely recognised as the ‘go to’ firm on the

technicalities of energy insurance and are frequently

instructed to engage in policy and programme reviews on

contracts covering everything from drilling rigs to their

insurance of offshore liabilities. We are experienced in

property and liability claims as well as BI, LOPI and DSU

matters.

Ince Insurance / 2020

Energy

As the search for renewables moved offshore, it was natural

for a firm with a strong marine insurance reputation to

become heavily involved. Today, the energy industry, both on

and offshore, poses some of the greatest challenges to the

insurance market.

We (are proud to) have established a wealth of experience in

both the energy and insurance markets and as a result

consider ourselves true specialists in the energy insurance

field. We deal with direct covers and facultative reinsurance.

We act for a broad cross section of insurers, buyers and

brokers in the energy industry, across a range of high value

onshore risks. Our offshore practice derives from

contractors, oil and gas traders and the energy insurance

market itself, from pure marine risks such as collision and

salvage, through to issues such as control of wells.

The experience of our lawyers includes:

- Energy Upstream

- Offshore Construction

- Operating Risks

- Drilling Risks

06

Page 8: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

We are familiar with all types of policy, including Building

Guarantee, Commercial Combined, Global Master/Local,

Household, Property Owners Liability and Facultative

Reinsurance of property risks. We regularly advise on issues

of pre-contractual misrepresentation and non-disclosure, the

interpretation of exclusions, claims conditions, policyholder

fraud and, in the context of large natural catastrophes,

aggregation.

Our industry expertise means that in addition to expert legal

advice we can provide you with real commercial insight. We

can advise you on property insurance claims relating to:

- Construction and engineering

- Energy and natural resources

- Manufacturing

- Mining

- Real estate – domestic and commercial

- Waste management

Ince Insurance / 2020

Property & Construction

Whether it results from a storm, flood, fire or explosion,

property work can be complex. That’s why you need a law

firm with deep knowledge of the property insurance market

and the expertise that comes from having done decades of

work in this area. We specialise in both UK and international

work – our property expertise is spread across our global

network of offices. As specialists across the spectrum of

property insurance matters, we can help you with everything

from product enhancement to policy drafting, coverage

advice to claims handling.

Whatever problem you face, you can be confident that we will

have dealt with a similar problem before. We can advise you

on:

- Business interruption

- First party property

- Fraud

- Subrogated recovery actions

- Third party property/property liability

07

Page 9: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

We have advised in relation to numerous classes of business

and the different facets of the reinsurance market. We draw

on our experience both of disputes and of the practicalities of

the market in drafting reinsurance policy wordings and in

responding to judicial and legislative developments. We have

dedicated teams focused upon:

- Captives

- ART (including insurance linked securities, sidecars ILWs

and collateralised reinsurance).

We also continue to advise the legacy and run-off markets.

We have experience in all of the issues and claims that arose

from business written right up to the 1990s including long tail

asbestos and pollution risks, the LMX Spiral, commutations

and the recoverability of commutation payments. We are

active participants in the industry body, IRLA (Insurance and

Reinsurance Legacy Association) and advise many clients on

how best to collect any remaining reinsurance debts.

Alternative Risk Transfers (ART)

Treaty and facultative reinsurance are the traditional

methods of transferring the risk of loss. But many risks –

because of their size, profile or uncertain nature – cannot

easily be transferred to the conventional market. That is

where ART comes in.

Our specialist reinsurance expertise, combined with our

transactional and regulatory experience, means that we are

able to advise in relation to a wide range of ART

arrangements from both a contentious and non-contentious

perspective.

Ince Insurance / 2020

Reinsurance & Alternative Risk

Transfer (ART)

Reinsurance

A reinsurance policy reflects the complex business

relationship between an insurer and its reinsurer. In handling

any reinsurance issue, you need a law firm with specialist

expertise in reinsurance issues; a firm that understands the

unique challenges in a reinsurance relationship, including:

- The trust placed by the reinsurer in its cedant

- The sharing of risk (understanding the subtle nuances

between treaty and facultative, proportional and excess

of loss)

- The management of claims, when must a reinsurer follow,

who has control and how it is exercised

We have many years of experience and deep knowledge of

the reinsurance market. We have acted in some of most

important cases determining reinsurance principles including:

- The duty of utmost good faith (the House of Lords in Pan

Atlantic v Pine Top and PCW Syndicates)

- Aggregation (the seminal decision on “event” in Dawson’s

Field)

- Follow settlements

- Claims control

Our views have been cited with approval in some of the

leading reinsurance cases, including by the House of Lords in

for example, WASA v Lexington.

08

Page 10: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

Insurance-linked securities

We advise on the wide range of products that are available to

offer insurers the ability to access capital markets and

investment banks for capital and to provide investors with

the opportunity to gain exposure to insurance risks. In

particular we advise on:

- Industry loss warranty contracts

- Catastrophe bonds

- Swaps, including longevity swaps

- Transformer structures necessary to enable the issue of

ILSs

- The efficacy of security arrangements holding underlying

assets

- Agreements with investment banks, custodians and

service providers

- The correct classification of any given instrument for

regulatory purposes

“This firm is noted for its

expertise on high-value insurance

and reinsurance disputes...”

– Chambers & Partner

Ince Insurance / 2020

Captive insurance arrangements

We advise on a wide range of captive structures and features.

Structured reinsurance

We advise on structured reinsurance solutions that:

- Meet specific risk management objectives, for example in

relation to exposures across multiple lines

- Address multi-trigger risk

- Achieve specific accounting or regulatory capital

objectives

- Limit counterparty risk

- Achieve insolvency-remote outcomes

Our team is familiar with a wide range of solutions that will

help you to meet your commercial objectives, including:

- Reinsurance sidecars

- Reinsurance-based structures that remove interest,

investment and longevity risks from life insurers

- Reinsurance structures that allow underlying assets to be

more aggressively managed while at the same time

ensuring adequate protection for those assets

- The use of quasi-reinsurance structures, such as swaps, to

allow a life insurer to release assets

- Structured quota share arrangements

09

Page 11: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

Accident & Health/PA

We regularly advise in relation to a broad range of claims and

coverage issues including claims for Permanent Total

Disablement (PTD) and Temporary Total Disablement (TTD).

Examples of our recent experience include:

- Advising in relation to Sports PA coverage claims

- Advising the IUA and market underwriters in relation to

the EU “Gender Directive” 2004/113/EC and exclusions

related to pregnancy conditions

- Acting on behalf of a Lloyd’s syndicate on reinsurance

issues arising from workers compensation business and

the operation of “sunset” clauses

- Representing insurers in respect of claims made under

travel and life policies in relation to diving related

“accidents”

- Advising an international coverholder in relation to

contractual arrangements in relation to

medical/healthcare expatriate business

- Advising Lloyd’s syndicates on regulatory issues arising

out of the sale of event cancellation products (and

whether such constituted life business)

Life

We regularly advise life insurers on outwards reinsurance

matters and on intra-group arrangements both in a

contentious and non-contentious context, including as part of

cross-border global programmes.

We also advise on non-traditional life products in the context

of reinsurance.

Ince Insurance / 2020

Specialty

From horses to fish farms, from tour cancellations to

exploding fridges, we can provide you with legal advice on a

wide variety of specialty risks. Our team of specialist lawyers

advise on product development, policy wordings, claims,

recoveries and disputes.

Our areas of expertise within the specialty insurance classes

include accident & health/life, bloodstock, livestock &

aquaculture, contingency/cancellation, cyber security, fine

art & specie, product liability and trade credit.

- Accident & Health/Life

- Bloodstock, Livestock & Aquaculture

- Contingency

- Cyber Security

- Fine Art & Specie

- Political Risk

- Product Liability

- Trade Credit

Accident & Health/Life

We understand the challenges and issues associated with the

sale, marketing, insurance and reinsurance of life business

and the many associated products in the sector.

Our considerable experience in the life sector is

complemented by our expertise in accident and healthcare

related claims, including the PA spiral, workers’ compensation

and accident and health business.

10

Page 12: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

Livestock

From aardvarks to zebras, we are familiar with most livestock

risks. We have acted on claims involving dairy farms, pig

breeding and rearing operations, poultry breeding farms, zoos

and safaris, both on a direct and a Facultative Reinsurance

basis.

Aquaculture

The aquaculture industry is growing rapidly and our specialist

knowledge has developed with it. We frequently advise on

market wordings, issues and disputes involving the insurance

of onshore and offshore fish and shellfish farms and public

aquaria.

Contingency

From sickly pop stars to adverse weather, there are many

ways in which the smooth running of an event can be

affected. We have extensive experience of advising on

contingency insurance and reinsurance disputes and have

been involved in a number of reported cases, including

International Management Group (UK) Ltd v Simmonds,

relating to the cancellation of Sahara Cup cricket matches.

Members of our team advised on the notorious ‘gap’ film

finance insurance and reinsurance claims of the early 2000s,

acting for Lloyd’s syndicates and major London and

international insurers and reinsurers.

We regularly advise on:

- Event cancellation, postponement, abandonment and

interruption

- Film producers’ indemnity claims (covering cast,

negatives, props, sets and wardrobes)

- Non-appearance claims (resulting from the death,

accident, illness or unavoidable travel delay of a

performer)

As the market has developed into more niche areas, we too

have grown our offering. We have the specialist knowledge

required to advise you on issues arising from death and

disgrace, transmission failure and prize indemnity fund

insurance.

Ince Insurance / 2020

Here are some of the ways in which we have helped our

clients:

- Working with them on a major Part VII transfer involving

the transfer of life business

- Representing a direct life insurer in respect of life

commission payments, claw back and rebate

arrangements (including dealing with sensitive

policyholder data and re-broking of existing clients)

- Representing a major life reinsurer in respect of a

significant reinsurance dispute arising from the pricing of

term life assurance

- Drafting treaty wordings for a number of major life

reinsurers advising on aggregation of catastrophe risk,

collateral and solvency issues, transfers of business,

minimum standards in underwriting, claims and dealing

with customers

- Drafting reinsurance wordings for life insurers to protect

their life insurance book of business

- Advising a major life reinsurer on disputes arising from the

reinsurance of viatical products

- Acting on behalf of life insurers and reinsurers in dealing

with complex claims (including assignment of claims

proceeds) and medical non-disclosure cases (including

fraudulent claims)

Bloodstock, livestock and aquaculture

Bloodstock, livestock and aquaculture insurance are niche

products. That’s why you need a law firm that understands

your business. We are one of the very few firms that can claim

to have real expertise in this area, having advised Lloyd’s

syndicates and London and international insurers for many

years. As specialists we can help you with everything from

policy drafting to coverage advice to claims handling.

Bloodstock

We are familiar with all types of policy wording, including:

- All Risks of Mortality

- Congenital (first season) infertility

- Infertility due to accident, sickness and disease

- Loss of income

- Prospective foal/barrenness insurance

- Transit

We also advise on liability claims involving bloodstock,

including those arising from veterinary negligence and road

traffic accidents.

11

Page 13: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

Here are just some of the ways in which we have helped our

clients:

- In the well-publicised and reported Commercial Court

case, Kamidian v Holt, we represented successful Lloyd’s

insurers in a dispute arising from damage sustained to a

clock during the transportation of items to and from a fine

art exhibition in the USA.

- We advised insurers on their coverage and subrogation

position following an armed robbery of US$12 million

worth of gold bars.

- We advised insurers on a claim arising from the theft of

jewels from the vehicle of a travelling salesman.

- We advised insurers on coverage issues in relation to

claims made under jewellers’ block policies, including in

relation to the application of policy exclusions and

territorial limits.

- We redrafted an insurer’s specie policy wordings,

including jeweller’s block and cash in transit

Ince Insurance / 2020

Fine art & specie

With our in-depth knowledge of the insurance market, we are

well placed to handle the issues that arise when dealing with

fine art and specie claims. We can advise you on large,

complex and commercially sensitive disputes but are also

adept at dealing with lower value matters on a cost effective

basis. Many cases within this class of business have an

international angle and our experienced network of offices

and associations throughout Europe, the MENA and Asia-

Pacific regions allows us to advise on a multi-jurisdictional

basis.

We can advise you on a wide range of issues, including:

- Policy drafting

- Coverage

- Fraud

- Insured’s liability to third parties

- Subrogated recovery actions

We are familiar with a variety of policy wordings, including All

Risks and Liability Specie policies, Jewellers’ Block policies

and Fine Art policies for specific items as well as for

collections and exhibitions. We regularly advise on issues of

pre-contractual misrepresentation and non-disclosure, the

interpretation of exclusions and on claims conditions.

12

Page 14: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

We are familiar with all types of policy, including Confiscation

Expropriation Nationalisation and Deprivation (CEND),

Contract Frustration (CF), Terrorism, Political Violence and

Comprehensive Contractor’s Plant (CCP). Whatever problem

you face, you can be confident that we will have dealt with a

similar problem before. Our industry expertise means that in

addition to expert legal advice we can provide you with real

commercial insight. We can advise you on:

- Expropriation, Nationalisation, Confiscation and

Deprivation of assets and investments

- Political Violence: War, Terrorism, Riots, Strikes, Civil

Commotion, Malicious Damage

- Forced abandonment/divestiture of assets

- Embargo and licence cancellation

- Currency inconvertibility and non-transfer

- Breach of Concession Agreements

- Non-honouring of arbitration awards or court judgments

- Pre-shipment risks

- Non-honouring of sovereign and sub sovereign debt

obligations such as guarantees or letters of credit

- Non-repossession of aircraft and mobile equipment

- Subrogated recovery actions, including those against

sovereigns under Bilateral Investment Treaties

Ince Insurance / 2020

Political Risk & Trade Credit

Political risk

Political Risk is one of the most innovative and exciting

classes of insurance. We played an active role in creating the

original private market political risk insurances placed in the

1970s and have been a recognised market leader ever since.

When the Lloyd’s Market began to underwrite export credit

insurance in the 1990s, we developed an expertise in Trade

Credit insurance.

Our contentious practice has handled numerous claims in

countries ranging from Afghanistan through to Zambia. In

addition to claims triggered by war, revolution, coups d’état

and other political violence such as terrorism, the revival of

resource nationalism has brought with it claims arising from

government intervention and non-performance around the

globe.

As specialists in this sector we can help you with everything

from drafting and advice on policy wordings; guidance on

actions to be taken when claims situations threaten; review

of claims under the policies (and reinsurances); and, when

required, the resolution of any disputes either amicably or by

way of litigation/arbitration. An important part of our role has

been the preservation, pursuit and enforcement of recovery

rights against third parties including the intrusive state or

government institution responsible for a political risk.

13

Page 15: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

“This firm is noted for its

expertise on high-value insurance

and reinsurance disputes, and it

has established itself as a leader

in this sphere, especially in the

aviation, marine and energy

sectors.”

— Chambers & Partners UK

Ince Insurance / 2020

Trade credit

Allied to our Political Risk practice, we developed an

expertise in trade credit insurance in the 1990s. Since then,

insurance providing cover for commercial credit risk has

developed significantly and is often provided in conjunction

with cover for political risks.

Our services include drafting, refining and advising on policy

wordings, including ones which constitute Basel II compliant

credit mitigation instruments.

We have advised clients on contractual defaults, including

those prompted by the recession, from debtors coming from

many different industries and based in numerous countries.

Whatever problem you face, you can be confident that we will

have dealt with a similar problem before. In addition to issues

arising out of Political Risks we can advise on:

- Non-payment by corporate entities

- Non-honouring of guarantees, letters of credit,

promissory notes, arbitration awards

- Unfair calling of bonds

- Non-repayment of advance payments

And in the event of claim payment:

- Restructuring of the debt

- Subrogated recovery actions

14

Page 16: You, marine insurance & Ince, in any case · 2020. 6. 11. · Marine Transportation Risks - Hull/Project Cargo/Cargo - Loss of Hire - Builders’ Risks - Mortgagees’ Interest The

Insurance / 2020

incegd.com

Europe & Middle East & Asia

Disclaimer Notice:

The contents of this document and any attachments are strictly confidential to the intended recipient(s) and may be privileged.

If you are not the intended recipient(s) please do not use or publish its contents and notify us as soon as possible. If received by

email, please also delete the message from your system and destroy any copies.

Office Information:

Ince Gordon Dadds LLP and its affiliated entities practise law internationally as ‘Ince’ (the “affiliates”). References in this brochure

and elsewhere to Ince means Ince Gordon Dadds LLP, its subsidiaries, the Affiliates, and the other partnerships and other entities

or practices authorised to use the name ‘Ince’ or describe themselves as being in association with Ince as the context may require.

United Kingdom, Beijing and Shanghai

Ince is a trading name of Ince Gordon Dadds LLP. Ince Gordon Dadds LLP is a limited liability partnership registered in England &

Wales (registered number: OC383616) authorised and regulated by the Solicitors Regulation Authority (SRA number: 596729). A

list of members of the LLP, and of those non-members designated as partners, is displayed at our registered office: Aldgate Tower,

2 Leman Street, London, E1 8QN. The term ‘partner’ used in relation to the LLP, refers to a member of the LLP or an employee or

consultant of the LLP or any affiliated firm of equivalent standing. Ince Gordon Dadds LLP is a subsidiary of The Ince Group plc.

Germany

Ince & Co Germany LLP is a limited liability partnership registered in England and Wales (with registered number OC362945).

It operates offices in Hamburg and Cologne. Our registered office is at Aldgate Tower, 2 Leman Street, London E1 8QN, UK.

A full list of members is available for inspection at its registered office in London.

Piraeus

Ince is a trading name of Herring Parry Khan Law Office. Regulated by the Piraeus Bar.

Gibraltar

Ince is a trading name of Rampart Corporate Advisors Limited. Company registration No. 107531. Registered Office:

6.20 World Trade Center, 6, Bayside Road, Gibraltar GX11 1AA / PO Box 1324 / T +350 20068450 / F +350 20068453.

Rampart Corporate Advisors is a subsidiary of The Ince Group plc.

Dubai

Ince is a trading name of Ince & Co Middle East LLP, a limited liability partnership registered in England and Wales (with registered

number OC361857) authorised and regulated by the Solicitors Regulation Authority (SRA number: 563759). A list of members is

available for inspection at the above address and at our registered office, Aldgate Tower, 2 Leman Street, London E1 8QN, UK. The

term ‘partner’ used in relation to the LLP, refers to a member of the LLP or an employee or consultant of the LLP or any affiliated

firm of equivalent standing.

Hong Kong

Ince is a trading name of Ince & Co, a firm of solicitors regulated by the Law Society of Hong Kong.

Singapore

Ince is a trading name of Ince & Co Singapore LLP. Ince & Co (UEN 53143911M) has converted to Ince & Co Singapore LLP with

effect from 29 April 2011. Ince & Co Singapore LLP (UEN T11LL0794C) is a limited liability partnership with limited liability under

the Limited Liability Partnerships Act (Chapter 163A). Ince & Co Singapore LLP is in a Formal law Alliance (FLA), with Singapore law

practice Incisive Law LLC. The licence for the FLA was originally granted by the Attorney-General. The FLA like Ince & Co

Singapore LLP itself is now regulated by the Legal Services Regulatory Authority (under the auspices of the Ministry of Law)

pursuant to the terms of the Legal Profession (Law Practice Entities) Rules 2015, made under the Legal Profession Act (Cap. 161).

EU VAT identification number: FR16000091925. RC number: 11S05478. DSEE number: 741A14457.

24 Hour International Emergency Response Tel: + 44 (0)20 7283 6999

LEGAL ADVICE TO BUSINESSES GLOBALLY FOR ABOUT 150 YEARS.

©Ince


Recommended