Spotlight on Emerging Markets - October 2019
As growth within the mature insurance markets stagnates, so carriers and brokers are looking for opportunities for growth in the emerging economies. When you consider that these countries include global economic giants China and India, you can see how important the “emerging” players are for insurers.
These markets are growing rapidly, which makes them exciting places to work and invest, but sometimes also higher risk. Each emerging market has its own complexities, its own legal structures, and often a distinct approach by its own government, which must be understood when considering growth prospects and possibilities for entering the market.
One of the strengths of Global insurance Law Connect is the wide membership among specialist firms in emerging (as well as established) insurance markets. As these firms have unique and well-recognised expertise in insurance law in their own markets, it was concluded that clients would find a spotlight on the local nuances of emerging market helpful—a “what’s happening now” guide for insurers who have an interest in this area.
In addition, the comparison of different markets allows readers to understand common and particular themes, and to see how different countries have tackled different growth, regulatory and economic issues.
Click here to visit the Global Insurance Law Connect website. Click here to download the full report.
Risk Radar - July 2019
Global Insurance Law Connect (GILC) this week launched its first annual Risk Radar report. The report pulls together the key themes from across the GILC network and gives a snapshot of the major issues that are currently bubbling up in each major insurance destination where the GILC has a presence—15 countries listed below. Click here to download the full report.
Sparke Helmore Lawyers is proud to be a member of GILC and the sole Australian representative firm.
GILC is a formal network of leading insurance law experts with its formation inspired by client demand. The network is comprised of like-minded and high-performing independent firms from across the globe that specialise in insurance law.
Chris Wood, National Practice Group Leader for Commercial Insurance, commented “We are delighted to be joining GILC. It makes a powerful statement about the firm’s deep commitment to the insurance sector as well as reinforcing our position as one of the market leading insurance law practices in Australia. This move gives Sparke Helmore the ability to connect clients across the globe, delivering smart solutions through the lens of leading thinking and a dedication to innovation.”
Countries represented in the network are:
- United Kingdom
What makes GILC a stand-out is its special legal and risk interest groups. We see this collective contribution of local expertise from each of the member firms as a powerful proposition. There are currently 14 special interest groups including:
- Complex bodily injury claims and health, safety & regulatory
- Financial lines
- Policy development
- Product liability & recall
GILC has also recently committed to four priority specialist groups being Cyber, D&O, financial lines and product liability and recall. These areas align strongly with Sparke Helmore’s national Commercial Insurance team’s priorities and we will actively engage with GILC global thinking for these groups.
Gillian Davidson will take a seat on the board of GILC as Asia Pacific representative. “It’s an honour to be the appointed to the board of GILC and fast-track the firm’s connectivity to the other member firms. We have a great deal of knowledge and expertise to contribute given the burning platforms being experienced across the insurance market. I will be championing a number of issues as a member of the Board including strategic and gender diversity,” said Gillian.
Click here to visit the Global Insurance Law Connect website.