Browne Jacobson Financial Services & Insurance

With the rising use of artificial intelligence, firms need to ensure due diligence as part of their onboarding processes. Our Partner Kay Chand explains how to perform due diligence on AI suppliers in the article below. Read more here: https://bit.ly/4a5zkqn #AI #Onboarding #FinancialServices

Join us for the launch of our new Care Focus webinar series. In our first lunch time programme, we will use a real-life scenario to bring to life some of the care sector’s biggest challenges and share our expert professionals’ top tips and best practice guidance. Secure your spot for this free event here: https://bit.ly/40mkit3 #Healthcare #HealthcareLeaders #Care

Are you #DORAReady? With the 17 January compliance deadline rapidly approaching, financial entities have limited time remaining to comply with the EU Digital Operational Resilience Act (DORA), including contract remediation requirements. Our commercial, digital and sourcing team is ready to support financial entities and ICT third party providers in navigating DORA’s contractual requirements and achieving compliance efficiently. Find out more and connect with our team here: https://bit.ly/4j5sHIr Rowan Armstrong, Alex Mason, Duncan McMeekin, Ben Littlejohns, Carmen Safavi #DORA #ICTRisk #OperationalResilience

For our December edition of The Word we cover a range of topics of interest from across the insurance sector. We take a closer look at the shoplifting epidemic by organised criminal gangs and what this means for insurers, we also consider how AI is increasingly being used to generate and support fraudulent claims, and we examine some common issues in death and disgrace policies. For this and more, read our December edition here: https://bit.ly/405w6Qo #Insurance #AI #TheWord

We are very happy to be named as one of the winners in the Business Partner of the Year category at the Insurance Times Awards. This award recognises the work we’ve done supporting insurers in creating clearer policy wordings, which has helped millions of UK customers. Congratulations to all finalists and category winners. #Insurance #Award #ClearInsurancePolicies

We’re excited to bring you this quarter's edition of the London Market Quarterly. In this edition we look at recent and ongoing cases involving: the Aviation sector, arising from the Ukraine-Russia conflict; two recent Court of Appeal decisions in the ongoing Covid BI litigation; and recent Commercial Court decisions regarding the interpretation of a Political Violence policy and a reinsurance framework agreement. Read more here: https://bit.ly/3ZBzT7x #LegalUpdate #ReInsurance #ClaimsResolution

The recent judgment in Johnson et al v FirstRand Bank has raised concerns across financial services markets whose business models involve introductions and other forms of intermediation. The judgment, which was given on October 25, highlights key issues for industry policies and procedures, and other considerations for compliance, regulatory and legal risk management. Jeremy Irving, financial services Partner and ESG Lawyer in our London office, breaks down these impacts in the first of a series of articles being published by Thomson Reuters that will explore the wider implications of this landmark decision. Read more here: https://bit.ly/4i7Qrvg #ConsumerProtection #MotorFinance #LegalUpdates

November's edition of The Word is now available. We cover a range of topics of interest from across the insurance sector including weather protection parametric insurance, and lessons for insurers from the Post Office Horizon scandal. What does Donald Trump's re-election mean for insurers? For this and more news across the insurance sector, read our latest edition of The Word here: https://bit.ly/3Os3Gcm #Insurance #InsuranceLaw #InsuranceIndustry

A snowy morning in the City did not prevent or deter London market brokers attending our Employment Law update with Rising Edge Ltd. A warm welcome was, of course, guaranteed. The risk landscape for employers is changing and will undergo a transformational change when the Employment Rights Bill comes into force, including Day 1 protection from unfair dismissal. We are encouraging Employers to use this period before the go live date to prepare and make ready for the change particularly regarding their new legal obligation to take all ‘reasonable steps to anticipate and prevent sexual harassment at work’. The key takeaway is ‘be prepared and don’t find yourself behind the curve’. Lack of preparedness or simple inaction could prove expensive both financially and in terms of your hard earned reputation in addition to the regulatory and employment law consequences. Raymond Silverstein Isabel Alvarez del Rio Chartered FCIPD Owen Dacey #EmploymentLaw #Insurance #Risk

On the 17th of October, a significant stride was made towards regulating the Buy Now Pay Later (BNPL) market. HM Treasury has renewed its focus by releasing a consultation on the Draft Legislation, a key step toward creating a more transparent and regulated BNPL sector. This move is more than just regulatory; it aims to help customers fully grasp their obligations, promote consistency in practices, and support positive outcomes for consumers in a market that has largely operated outside traditional regulation and credit reporting. Our financial services experts Helen Simm and Penny Hallam explore how this change will impact the BNPL sector, its users, and the wider consumer credit market. Read here: https://bit.ly/3YDRrOy #BuyNowPayLater #ConsumerCredit #CustomerUnderstanding