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2021 was perhaps not the year we had all hoped for after the year that was 2020. However, there was a return to some kind of normality and this was certainly the case on the regulatory front for financial and professional firms.
In terms of claims, these remained steady in 2020 with previous years but a gradual increase in the number of claims in professional and financial lines is expected due to post-COVID financial uncertainty and difficult economic conditions.
In this first part of a two part review, we look back at key developments over the past year impacting financial and professional lines.
Click here to read the review (part 1)
In this part 2, we round up the key cases of interest handed down in 2021, starting with cases impacting across business lines before moving on to cases applicable to particular lines.