The Australian insurance market is one of the most highly-regulated insurance markets in the world, partly due to the collapse of a number of major Australian-based insurance companies in recent years.
The complex regulatory maze means that insurance and reinsurance organisations need legal advisers who can quickly identify critical issues, apply the law and deliver plain-English, commercial advice.
Allens Arthur Robinson has one of the leading Insurance & Reinsurance practices in Australia and the Asia Pacific region. We offer our clients a team of specialists who can quickly identify the critical issues and regulatory risks, and offer practical and commercial solutions. Our Insurance & Reinsurance Group 'stands out for its excellent knowledge of insurance products and in-depth understanding of the Australian market' (Chambers Global 2009)
We are known internationally for our expertise in all aspects of insurance law including corporate, regulatory and contentious matters. We have more than 20 years' experience representing London-based insurance syndicates and, more recently, we have expanded in Asia with a dedicated insurance and reinsurance team based in Hong Kong.
Our track record includes successful High Court appeals, landmark insurance and reinsurance cases and extensive experience in representing London-based syndicates, intermediaries and insureds on claims in Australia and Asia. We have also dealt with some of the largest and most complex insurance mergers, acquisitions, joint ventures, and capital raisings in Australia.
Our clients
We represent key members in the insurance industry and act for both insurers and their advisers, as well as corporate and professional firm insureds. Our clients come from all areas of business, including major multinationals and insurance underwriters, professional firms and the banking sector.
We strive to build strong relationships by getting to know our clients. We use our extensive resources to stay abreast of relevant issues and to keep our clients informed. Our clients include:
- General insurers and reinsurers – ACE, AIG, Allianz, Chubb, Equitas, FM Insurance, General Re, Lloyds' Syndicates (various), Lloyds Australia, Markel, Medical Insurance Group of Australia, PMI Mortgage Insurance, Swiss Re and Tokio Marine.
- Life insurers – Aviva, General Re Life, MetLife and MBF Life.
- Health insurers – MBF and HBF.
- Government and government insurers – NSW Department of Commerce, Territory Insurance Office and WorkCover NSW.
- Brokers/ intermediaries – Aon, Marsh and Aegon.
- Industry associations – Australian Health Insurance Association, HIH Claims Support, Insurance Council of Australia and Insurance Ombudsman Service.
Our people
Our people are some of the most experienced in the industry. Our team includes lawyers who have worked in jurisdictions with significant insurance and reinsurance markets, including the UK, USA, Asia and continental Europe – 'no other firm has [Allens'] skill base and geographical spread' (Chambers Global). Our lawyers' widely recognised expertise means we consistently receive the highest number of nominations of any law firm in Australia for the World's Leading Insurance and Reinsurance Lawyers.
As a multi-disciplinary commercial legal practice, we can also draw on a range of other relevant specialist expertise in areas such as competition law, workplace relations, privacy, tax, commercial litigation and insolvency. This means we are well placed to provide a complete and seamless legal service for our clients.
Corporate/regulatory
We are at the forefront of insurance developments, advising on government
policy, and regulatory and legislative matters relating to the industry.
Our experience includes acting:
- in a range of matters relating to dealings with regulators including the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission and the Australian Competition and Consumer Commission in the establishment of insurers in Australia;
- in some of the largest insurance mergers and acquisitions, joint ventures, restructures and capital raisings;
- for shareholders, insolvency practitioners and other interested parties in relation to insurance and reinsurance insolvencies;
- for governments on privatisation matters including providing advice on insurance and risk management matters;
- in relation to financial services reform and privacy issues;
- on competition and trade practices law as it relates to the insurance industry;
- in motor and workers' compensation statutory classes business;
- on insurance policy coverage and drafting; and
- on a number of Federal Court-approved insurance portfolio transfers.
Litigation and dispute resolution
We specialise in conducting large, high-value and complex litigation, and acting in public inquiries. Our recent experience includes acting:
- for insurers and insureds on a range of complex indemnity and coverage disputes;
- in professional indemnity, and directors and officers issues;
- for parties in Royal Commissions and various inquiries;
- in reinsurance disputes involving arbitrations and mediations;
- on life insurance disputes and coverage issues;
- in relation to alleged 'secret commissions';
- in a range of complex engineering disputes, including litigation, on behalf of insurers; and
- on a number of large Australian class actions brought against financial services and leisure sector entities (including shareholder class actions).
