Insurance law firms spanning four continents have today launched a formal alliance network, Global Insurance Law Connect, to match their clients’ global needs with local lawyers’ specialised insurance law expertise.
The member firms operate across seven countries, and include: Batini Traverso Grasso & Associati (Italy), BLM (UK), Byrd & Associates (France) and Foran Glennon Palandech Ponzi & Rudloff PC (USA), Blanco & Asociados (Spain), Khaitan Legal Associates (India) and Santos Bevilaqua Advogados (Brazil).
Mike Brown, Chairperson of Global Insurance Law Connect, said; “We were all inspired by client demand. With a highly competitive rating environment, every underwriter is looking for income growth in new markets or from new products extending their businesses into the unknown.
“As well as protecting their income, re/ insurers need to examine their cost base to improve their margins. The insurance industry is asking for specialist advice across multiple markets and delivered in a collaborative manner.
“Many of us share common clients and have worked jointly with other member firms on matters that obtained successful results.
“So, formalising our relationships and our alliance to put in place the broadest network, stringent due diligence and rigorous quality control was a natural next step.
“It gives re/insurers, brokers and policyholders comfort that they can access the right advisers in the right places in the right way, harnessing the power of our connectivity and collaboration to reduce the time and money they spend on managing their risks.”
As part of the network, 14 special legal and risk interest groups will share expert knowledge with clients across classes of business such as product liability, D&O, marine, energy and cyber.
Plans have been laid to add more such groups to the alliance within the next six months.