Global Insurance Law Connect will focus only on insurance law. Founder member firms are Batini Traverso Grasso & Associati (Italy), BLM (UK), Byrd & Associates (France) and Foran Glennon Palandech Ponzi & Rudloff PC (USA). Other members are Blanco & Asociados (Spain), Khaitan Legal Associates (India) and Santos Bevilaqua Advogados (Brazil).
Sharing expert knowledge
A cornerstone of the offering is 14 special legal and risk interest groups sharing expert knowledge with clients across classes of business such as product liability, D&O, marine, energy and cyber. Additional groups will be added as the alliance grows in the next six months.
'Inspired by client demand'
Mike Brown, chair 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.'
'Common clients'
He added that many of the firms '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.'
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