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Protecting Law Firm Partners’ Assets

Professional indemnity insurance provides protection for law firms against claims arising from alleged negligence or breach of duty in the delivery of their professional legal and advisory services.  The frequency and severity of these allegations continue to rise, as does the expense associated with defending the matters.  These escalating costs lead us to ask the question: Do law firms have sufficient levels of Professional Indemnity Insurance in place?

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Australia Professional Lines – Legal Expense Cover the New Normal

2017 marked the 25th anniversary of the establishment of the class action statutory regime in Australia.  Class action proceedings are on the rise in growing industry sectors as claimants seek restitution of alleged corporate misconduct or operating behavior.  Award settlements are skyrocketing into the tens of millions of dollars pressuring corporate bottom-lines to bear the financial burden of award costs.



Post-Brexit – “Passporting” in the High Value Art Market

The UK is ranked second in the global art world as of 2015.  More than £8 billion of fine art imports and exports travel throughout the UK each year, representing a 21% share of the international high value art market.  Economic implications of Brexit are far from any level of certainty.  Yet, preliminary discussions amongst art experts have begun.  What will be the potential tax implications and value consequences in a post-Brexit environment?  What will be the impact on cross-border purchase and transfer of valued works of art between the UK and European Union nations?



Value of Tax Liability Insurance for Complex Transactions

The complexity of tax legislation creates uncertainty for taxpayers. Legislation and accompanying guidance can often lack clarity when applied to complex transactions, while some matters may depend on the vagaries of judicial (or tax authority) interpretation. With tax compliance firmly in the spotlight, taxpayers seeking certainty can utilize tax liability insurance as a useful tool to help reduce exposure to a specific, identified tax risk. 



Construction – Design-Build Delivery Method Exposure

A design-build agreement between an owner and design-builder represents the contractual relationship between the parties of the construction project.  The design-builder must first assess the risks and responsibilities outlined under the agreement and determine how to manage potential exposure. Typically, a design-builder will assume certain risks, insure others and transfer some risk to their selected design professionals and trade subcontractors.