Our team have significant experience in assisting foreign companies to enter the Australian market, advising on insurance transactions and joint ventures, insurance supervisory law, and insurance contract law:
- Oliver Jankowsky has assisted over 30 foreign companies to enter the Australian market. His specialties include advising on the most appropriate structure for an initial set up, obtaining relevant permits and licences and joint ventures.
- We have the in-house capabilities to advise new market entrants on all relevant matters to setting up a successful business in Australia, including Foreign Investment Review Board (FIRB) approval, employment law, migration law, competition law, tax and duty laws, intellectual property, advice on distribution arrangements, real estate advice, etc.
- Harry New and Adrian Verdnik have extensive experience acting for multi-national financial services providers in relation to setting up Australian offices and marketing their products and services in Australia. The legal work provided includes advising on establishing an Australian subsidiary as opposed to registering as a foreign body, setting up corporate structures based on regulatory and tax advice, IP/IT issues and employment issues.
- Lawyers involved in this proposal have extensive experience acting in corporate transactions and joint ventures in the insurance sector, including advising:
- AUB Group (formerly Austbrokers) on numerous transactions affecting its broker network.
- AON on numerous broker transactions in Australia.
- Insurance Australia Group Limited on the sale of its retail warranty business to Virginia Surety.
- A leading general insurer on its proposed acquisition of a private health insurer.
- Leading Australian insurer, Suncorp-Metway, on the sale of its Tyndall asset management business to Nikko Asset Management of Japan.
- TAL Dai-ichi Life on its A$160 million acquisition of InsuranceLine and on numerous other proposals.
- Acting on retainer for Accident & Health International (for 20 years) providing ongoing policy review and analysis, PDS compliance advice and drafting, assisting in regulatory compliance/enquiries and in new product development including regulatory considerations.
- Acting on retainer for Liberty International Underwriters on a range of regulatory and policy queries ranging from regulatory impediments to new product opportunities, product development, policy endorsements, changes to policy wording, policy termination and renewal obligations under the Insurance Contracts Act, advising on stamp duty changes.
- Advising an underwriting agency on the best way to structure one set of underwriters taking over the underwriting risk for a book of insurance business midway through a policy period.
- Recently drafted a combined public/product liability and professional indemnity wording aimed at SME business for a Lloyd’s of London backed Australian Underwriting Agency.
- Recently drafted a professional indemnity policy wording for the Engineers Australia endorsed scheme underwritten by a Lloyd’s Syndicate.
- In the claims area a significant part of our general liability practice involves acting as coverage counsel and advising underwriters on policy response having regarding to the Insurance Contracts Act. This advice is provided for a wide range of insurance policies including professional indemnity, directors & officers, management liability, legal expenses, public liability, product liability, medical and allied health policies, property damage and business interruption policies, domestic motor, home and contents policies, accident and health policies, marine policies and more.
- We are the leading law firm for assisting two major domestic insurers with their disputed denials of indemnity particularly for fraudulent claims before the Financial Ombudsman’s Service (FOS). We have also worked with the police and insurance clients to see a lawyer and doctor charged in a fraudulent claims scheme.
Insurance| 24 Jun 2022
We consider whether litigation funding schemes are managed investment schemes, updates to life insurance codes of practice, and much more.
Insurance| 07 Jun 2022
Make your offers count! The Supreme Court of Queensland revisits the principles relating to compliant UCPR and Calderbank offers
The Supreme Court of Queensland has recently re-examined the principles that will enliven a costs award following the provision of a formal offer.
Insurance| 31 May 2022
In this edition, we consider ASIC’s expectations on AFS licensees’ cyber resilience practices, a judgment arising out of ASIC’s first financial advice action against a timeshare provider, changes to derivatives transaction rules, and much more.
Insurance| 24 May 2022
There have been several disputes before the courts over the scope and interpretation of the narrower PIPA disclosure obligations. The recent decision in Eyles v Sydney Skydivers Pty Ltd shows the consequences of getting this wrong can be serious.