Nicole Wearne

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Norton Rose Fulbright contributes to ALRC’s review of litigation funding

The Australian Law Reform Commission’s (ALRC) report ‘Integrity, Fairness and Efficiency—An Inquiry into Class Action Proceedings and Third-Party Litigation Funders’[1], was released on 25 January 2019. The report makes 24 recommendations in an effort to ‘shake up’ a now-booming sector.  The ALRC received over 75 submissions in response to their initial Discussion Paper[2], including a … Continue reading

Class Actions – Time for Review and Change?

As we have previously reported, the Australian Law Reform Commission (ALRC) is in the midst of conducting an Inquiry into Class Action Proceedings and Third-Party Litigation Funders.  The ALRC is to deliver its report on 21 December 2018. Class actions are now considered one of the greatest risks to corporations in Australia, with resulting increases … Continue reading

ALRC inquiry into class action proceedings and third party litigation funders: What you need to know

On 11 December 2017, then Attorney-General of Australia, Senator the Honourable George Brandis QC, asked the Australian Law Reform Commission (ALRC) to consider whether and to what extent class action proceedings and third party litigation funders should be subject to Commonwealth regulation. The inquiry is set against the background of: (a)      The increased prevalence … Continue reading

AI and Insurance: Planning for an intelligent future

The insurance industry is looking at the means to develop new business models that rely on the mining of large data sets in order to identify customers, price risk and analyse claims. Not only does the application of artificial intelligence (AI) have the potential to reduce costs by reducing headcount, it also has the potential … Continue reading

Insurance: necessary evil or social good?

In Ireland, AIG recently cancelled the policies of numerous young drivers who persistently exceeded the speed limit.  In New York, property and casualty insurer Lemonade has announced changes to their policies following the tragic Las Vegas massacre.  And in Sweden, Skandia has developed an underwriting model to reduce long-term sick leave for corporates. What do … Continue reading

Nothing sweet about an oil contamination

The recent decision of the Supreme Court of New South Wales in Cape Byron Power I Pty Ltd v HSB Engineering Insurance Ltd [2017] NSWSC 1081 provides a timely reminder of the importance of clear policy drafting for underwriters of debt servicing standing charges and the adverse interest consequence which can follow if a denial … Continue reading

Climate Change Risk: what it means for Australian Boards and their D&O insurers

Progressive corporations are now focused on Environment and Social Risk Governance (ESG) criteria as an important indicator of business performance.  Evaluation of which environmental risks might affect a company’s income and expenses, and how to manage those risks, are important issues for socially aware investors in driving investment decisions.  In the coming decade – as … Continue reading

Class Action Risk – Is Your Board Prepared?

Outside of North America, Australian companies are more likely to face a class action than anywhere else in the world.  And aside from the legal issues, class actions have the potential to significantly impact a company’s reputation and share price. Data shows that class actions are a key issue for Australian boards, directors and senior … Continue reading
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