Managing risk with unique insights and advice
We understand the challenges organisations face. KWM is in a market leading position acting for both insurers and policyholders on major Professional Indemnity (PI) claims, giving a unique insight into how the PI insurance market operates. We provide practical, tailored and strategic advice.
As preferred advisers on Australia’s most commercially sensitive and strategically significant insurance disputes, KWM has built a reputation as the practice that achieves results in PI insurance disputes.
Our insurance experience spans the full spectrum of insurance matters, particularly those with high reputational impact such as PI and D&O insurance, class actions, business interruption, reinsurance matters, environmental contamination and natural disasters including advising multiple clients in relation to Industrial Special Risk insurance policy coverage in response to COVID-19.
Insurance and professional services
The KWM insurance team has depth of knowledge and expertise in PI claims, regularly advising national and international organisations including insurance and professional service firms on all aspects of their businesses. Our team’s specialist advice extends to contested insurance disputes, with deep experience in PI claims, regularly acting for top tier law firms who place their trust in KWM to defend their most sensitive and high-profile claims.
We are sought by local and international clients alike to provide our broad range of expertise on large, complex claims, partnership agreements, internal disputes and employee claims. Our knowledge of the overall corporate and regulatory issues (compliance, tax, etc) is valued by clients.
Projects and infrastructure
The insurance market has seen a continued uplift in the number of claims arising from development and infrastructure projects and an increase in claims against PI (either under project specific or annual policies). As part of our broad in depth insurance knowledge, our insurance team’s experience includes construction and infrastructure PI claims.
The difficulties in obtaining sufficient professional indemnity insurance cover at a reasonable price may also mean organisations need to reconsider their approach to PI insurance – both generally and on project-specific policies.
Financial institutions
KWM has also recently undertaken a significant amount of PI work for financial institutions – both contentious and advisory - all of which gives KWM a first rate understanding of the PI market and claims. We know the key players in the market and understand the drivers in the sector.
The financial services sector has also seen a continued uplift in the number of significant claims arising against professional indemnity and related policies. We have a well-resourced, experienced and committed team with a deep understanding of managing and prosecuting insurance claims in this space.
Our expertise in action
- Big four banks and other large FIs: advising on a range of significant matters including the D&O and PI insurance responses to various claims relating to mis-selling, remediation, regulator enforcement action (including ASIC and AUSTRAC), the establishment and use of captives, and annual insurance renewals.
- Various listed and international clients: advising with respect to D&O and PI insurance policy reviews, including whether the policies provide adequate cover for the types of risks envisaged and advice on alternate policy wording.
- Victoria’s legal insurer and Australia’s top and mid-tier law firms: handling their largest and most complex disputes across various Australian jurisdictions.
- Insurance recovery strategies: advised on various road and infrastructure projects both in Australia (e.g. Sydney’s WestConnex project) and the broader Asia-Pacific region (e.g. New Zealand, Hong Kong, Macau).
- Acting across a range of sectors: including energy and resources, construction and leisure. Most recently, this has seen work relating to COVID-19 claims.
- Major infrastructure project: successfully advising on an insurance recovery; we recovered 100% of the insured loss and legal costs.
Industry recognition
- Band 1 Insurance: Policy holder – Chambers and Partners
- Band 1 Insurance – Legal 500
