If News Liability

Class actions without losses: A challenging US trend: 07 June 2017; If News 3/2017 Liability. In the previous edition of Risk Consulting Magazine, Håkan Larsson considered the issue of alleged mislabelling of consumer products in the US. The mislabelling issue is just one example of a growing trend, i.e. class actions by consumers who have not suffered any actual loss themselves. Håkan mentioned ways in which certain parts of insurance coverage could be triggered incidentally by such claims, for instance, through coverage for Advertising Liability or Directors and Officers. In this article, Jonathan Long takes a look at the wider issues surrounding these class actions and the vexed question of whether insurers should consider meeting this problem head-on.

Class actions in the United States – recent developments: 22 August 2016; If News 5/2016 Liability. The US legal system and levels of awarded damages are and have for a long time been fascinating subjects for people all around the world. For the general public the system is often viewed in the light of numerous movies and TV dramas and when compared to a Nordic trial, people sometimes get disappointed when they crosscheck our court systems. Corporations who risk being targets for these kinds of dramatic scenarios may not be that fascinated by the US way of resolving disputes and awarding damages.

Cyber Risks for Industrial Control Systems: 10 November 2015; If News 8/2015 Liability. Industrial Control Systems (ICS) are typically not on the radar of organizations when they consider their cybersecurity, at least not yet. Examples include SCADA, DCS and PLC systems typically used to control utilities, equipment and machinery.

Planning for a product recall: 15 June 2015; If News 5/2015 Liability. When something goes wrong with a product in a way that represents a potential risk of causing injuries, a product recall can be necessary. Recalls are typically related to a specific group of products. Foods and beverages, toys, electrical appliances, cars and car parts have all frequently been subject to recalls but virtually all products can be subject to a recall.

Managing risks in contracts: 09 March 2015; If News 2/2015 Liability. Companies that don't focus on contract management often fail to meet expectations with regard to quality of product or service and handling risks.

Road haulier’s liability: 29 September 2013; Liability Newsletter 1/2013. If insures a great number of companies specializing in transporting goods around the world. This includes not least a lot of road hauliers’ transporting goods between different destinations on land.

The clash between US and EU - an unresolved paradox: 07 November 2012; Liability Newsletter 2/2012. Claims handling at If means working internationally, and we do our utmost to pass that knowledge on to our customers, to ensure that you as a company will be able to limit your financial risk, regardless of whether the risk is insurable or not.

Product Liability RM methods of long supply chains: 06 March 2011; Lessons from Losses 2/2011. Supply chain risk management has become one of the most discussed areas to rise due to globalization. The outsourcing of production and cost efficiency targets with lean supply chains has led companies to face new risks. These risks are usually seen as continuity issues and threats to business and earnings.

Recourse from an industrial customer perspective: 02 February 2010; Lessons from Losses 1/2010. ‘It’s not over till the fat lady sings’ is a phrase that could well express the aim of If’s recourse activities: a customer suffers damage, we pay out compensation in accordance with the insurance agreement. However, the financial result of the claim may not be established until we carry out a recourse process, ie that we have assessed the possibility of recovering the amount from someone who may have caused the damage or is otherwise responsible for compensation for the incident. Recourse is thus a natural part of our customer relations, and it is the final result which is significant when we – both insurance company and customer – add up our respective damage costs.

Class actions without losses: A challenging US trend