The financial lines insurance landscape in Australia is continually evolving, influenced by both emerging trends and longstanding considerations that affect how professional risks are underwritten and how claims and disputes are managed before our courts.
To explore the evolving challenges and opportunities within our industry, our Australian Financial Lines team were pleased to host half-day symposium events in Melbourne and Sydney in July. We brought together some of the sharpest minds from the legal and insurance worlds, along with our own specialists at Kennedys, to dive into the big issues shaping our industry right now and promote conversation about the big issues affecting our clients every day.
Through a series of engaging panel discussions and keynote presentations, we delved into recent legal developments, pivotal case law, and emerging trends that are reshaping the landscape of underwriting and claims management across professional indemnity and broader financial lines.
This report distils the key themes and takeaways from the symposium, highlighting critical topics such as loss dynamics in PI/FI claims and litigation, the evolving role of expert evidence in contemporary court proceedings, updates to the Insurance Contracts Act, the progression of Group Cost Orders jurisprudence in Victorian class actions, the concept of double directness in crime insurance policies, and current patterns in Employment Practices Liability claims.
We hope you find this report useful, and please reach out if you would like to discuss any of the issues addressed in more detail.