Raquel Rubio

Full Profile

Raquel is a Legal Director based in London, qualified in both England and Spain, and holds an LL.M. in Commercial and Corporate Law from Queen Mary University of London. She specialises in international and multijurisdictional disputes, with a focus on insurance and reinsurance litigation, coverage advice, and the defence of liability claims.

Raquel began her legal career in Madrid as an in-house claim counsel for Coface, a French credit insurer. As a dual-qualified lawyer in London, she has represented London and international insurers and reinsurers in high-value financial institutions claims, including arbitration and regulatory investigations in Colombia.  In 2020, she played a key role in the UK FCA test case arising from COVID-19 business interruption losses, managing reporting obligations and communications with hundreds of affected insured clients. She is among the first lawyers at Clyde & Co to address coverage issues related to climate change litigation. Recently, she has advised general and environmental liability reinsurers on coverage issues stemming from a major oil spill in Peru and is increasingly engaged on policy wordings review particularly in the D&O and FI markets.

Raquel co-authors the chapter on Colombia in The Insurance and Reinsurance Law Review and actively participates in Clydes’ Climate Change and Emerging Risk thought leadership initiatives. 

Experience

• Acting for London market reinsurers in a US$300m professional indemnity claim against the central bank of Colombia arising from the collapse of the Colombian domestic lending system in 1999.
• Advising Directors and Officers (D&O) insurers on a claim arising from cost overruns in the construction of a major Colombian refinery resulting in losses of over US$6bn.
• Advising international insurers on a US$17m claim arising from losses caused by Hurricane Harvey in Texas in 2017.
• Acting for London market reinsurers in a professional indemnity (PI) claim arising from mismanagement of the fund set up for waste collection services in the city of Bogotá.
• Advising business interruption (BI) master program insurers on coverage issues arising from the outbreak of swine flu in Mexico in 2009.
• Acting for London market reinsurers in a series of fidelity claims (FI) arising from the collapse of major Colombian stockbroker, including proceedings before the Colombian Audit Office and both the Civil and Criminal Courts.
• Acting for London market reinsurers in D&O claims made against the directors of a large Indian clearing house.
• Acting on behalf of a number of independent financial advisors against claims initiated by the Financial Services Compensation Scheme as a result of the collapse of Keydata in 2009.
• Advising D&O insurers on a claim arising from competition authorities’ investigation into the alleged abuse of dominant position by subsidiaries of a multinational company in Colombia.
• Assisting UK BI insurers in claim arising from a major fire in the northeast of Spain.
• Acting on behalf of multinational renewable energy company in claim arising from the underperformance of a 55 turbine windfarm based in Costa Rica against major European manufacturer in arbitration in England and before the German Courts.
• Acting on behalf of one of the named co-defendants in the UK FCA test case arising from losses suffered as result of the COVID-19 pandemic in 2020 including managing the client’s reporting obligations to the FCA and to affected insureds across sectors subject to  17 affected wordings.
• Acting on behalf of leading chocolate and confectionary manufacturer in the defence of claims arising across multiple jurisdictions as a result of major outbreak of salmonella in one of their main manufacturing plants. I oversaw and managed the overall project, the London based central team of lawyers and foreign correspondents across more than 20 jurisdictions including claim, settlement and litigation management. 
• Advising London market reinsurers on coverage and potential exposure arising from claims made under their General, Product and Environmental programs (GL, PL and EIL) as well as D&O as a result of the coastal communities actions filed in the US against their major oil companies insureds.
• Advising multinational renewable energy company with BI claim arising from the flooding of hydroelectric complex comprising three interconnected hydroelectric plants. 
• Advising London market reinsurers about risk of proposed endorsement to excess side A D&O Difference in Conditions (DIC) policy wording.
• Acting for London Market GL and EIL reinsurers on coverage and exposure arising from major oil spill in Peru.