London FOIL, a division of the Forum of Insurance Lawyers (FOIL), has elected Toby Vallance, Partner at international law firm DAC Beachcroft, as President.
He succeeds Gavin Coull of law firm Birketts, who acted as President during a particularly difficult time for the market, which faced the initial impact of the Russia-Ukraine war.
Overall Vallance brings 16 years of experience towards the role. He primarily specialises in marine, energy and mining-related claims, alongside any related cyber risks.
Furthermore, Vallance is also an expert on climate change risk and he regularly advises clients on the broad implications of climate change for the insurance market.
The London market has faced some major difficulties throughout 2022, as it’s had to grapple with the international impact of the Russia-Ukraine war, following the cautious optimism many held earlier in the year as markets began to financially recover from the Covid-19 pandemic.
However, with the entire insurance industry now facing difficulties at a scale not seen in decades, FOIL and London FOIL members will continue to support insurers in navigating legal risks during this time of hesitancy and uncertainty moving into 2023.
Some of the key areas that London FOIL has stated that it will focus on includes, managing the global transition to clean energy usage, in light of growing expectations on insurers to support green policies.
As well as the impact of the upcoming appeals over Covid-19 business interruption claims, and the development of the Protect Duty legislation.
Meanwhile, Fleur Rochester, Partner at Kennedys, becomes Vice-President of London FOIL, and will work alongside Toby.
Commenting on his appointment, Vallance said: “It is a privilege to be appointed as President of London FOIL in what is sure to be a challenging year ahead. The London Market is facing global risks not seen at a level since the Cold War – we’re entering unfamiliar territory, and new and innovative solutions are needed to tackle these new challenges.
“I’m looking forward to working with Laurence and the membership to ensure that both FOIL and London FOIL can effectively help our insurer clients meet the demands facing the sector.”
FOIL CEO Laurence Besemer, added: “Toby is a long-time member of London FOIL’s Executive Committee and knows the London Market inside out – he is perfectly qualified to take the helm and lead the organisation during these uncertain times of financial turmoil across the globe.
“From growing expectations on insurers to prove they are paying more than lip service on ESG, to meeting lofty demands that the industry will support the clean energy transition, the London Market is set to be the bastion for progressive change in the corporate world, and I have every confidence that Toby will lead London FOIL with great success.”
