Legal Business Awards 2010

Providing a ‘thorough and tailored service’, clients concur that Kennedys’ insurance team ‘simply outshines many of its competitors’. Its excellent track record in litigation is cemented by successfully defending XL in a high-profile case involving allegations of market fixing and anti-competitive trade practices in California, resulting in the first English decision on the construction and effect of a ‘drop down’ insurance clause.

A string of mandates characterised a truly outstanding year for the firm’s insurance group, both in terms of turnover and quality of work. Noted as a firm that has ‘the edge in knowledge and professionalism’, its pedigree was exemplified by its work representing insurers exposed to the Buncefield Oil Refinery explosion in 2005.

Having won on liability on the third day of a three-month trial, Williams’ team is pursuing over 130 quantum claims, valued between £100,000 and £100m, plus around 2,000 smaller claims with values of £100,000 or less. Kennedys has already settled claims valued at over £126m.

And it doesn’t stop there. Expertly building on its winning role in the high-profile TAG litigation, the firm has been instructed by the insurers of firms defending similar claims brought by AXA arising out of the Composite Legal Expenses Scheme (also known as Son of TAG). A strong performance as a firm and for clients in this core market makes Kennedys a deserved winner.

HIGHLY COMMENDED

ADDLESHAW GODDARD

Michael Green

Significant work for the team at Addleshaws includes representing the successful appellant in the landmark trial Wasa International Insurance Company Ltd v Lexington Insurance Company and ors, the first reinsurance case to be heard by the House of Lords in 12 years. This eagerly awaited victory, on the last day before the law lords gave way to the Supreme Court, overturned the Court of Appeal’s earlier decision against Addleshaws’ client.

BARLOW LYDE & GILBERT

James Parker

A consistent, key player in the insurance market, BLG’s impressive list of instructions includes acting for Abbey Life Assurance in the reinsurance of longevity risk relating to its £1.5bn annuity portfolio, a deal completed in just three weeks.

CARTER PERRY BAILEY

Bill Perry

Just months after breaking away from Charles Russell, specialist insurance and reinsurance boutique Carter Perry Bailey successfully represented its client AGF in the landmark case in the House of Lords against Lexington Insurance Company. This historic case was heralded a victory for common sense and allowed reinsurers the right to rate their contracts by reference to the time for which they give cover.

CLYDE & CO

Victor Rae-Reeves

Clyde & Co’s excellent record in complex insurance litigation is illustrated by a number of high-profile instructions throughout the summer of 2009, including acting for major underwriters in claims arising from the collapse of a stadium during Madonna’s world tour and advising the freight train company involved in a major train derailment in France.

CMS CAMERON McKENNA

Vere Wheatley

The renowned team at CMS Cameron McKenna acted on one of the largest-ever recoveries from an insurance broker by securing a $130m out-of-court settlement on behalf of CNA Financial Corporation and its subsidiaries in a claim against Willis.

SLAUGHTER AND MAY

Efstathios Michael

Slaughters’ strong insurance prowess was emphasised by its successful representation of Equitas in its claim against R&Q Reinsurance Company. In this decision, which was particularly important to the reinsurance market, the High Court determined that Equitas could prove its claims at a retrocessional level with the assistance of an actuarial model.

Award sponsored by Prime Professionals