Finances en assurance

In today’s increasingly complex and highly regulated financial markets, providing finance and giving security within the insurance sector continues to be challenging.

Our dedicated banking and finance practice can advise borrowers and lenders on the issues that surround the re/insurance industry

In today's increasingly complex financial markets, our dedicated banking and finance practice is well placed to advise both borrowers and lenders on the issues that surround the re/insurance industry. Undertaking a measure of due diligence, and then understanding the impact of the proposed financing and strength of the security to be given or obtained, is vital to a successful lending. Clyde & Co has a unique perspective on this and is therefore able to ensure that the expectations of both lenders and borrowers are met.

Our client base extends across the financial and insurance sector including banks, building societies, finance boutiques, insurance brokers, insurers, underwriting agents, capital providers, export credit agencies and asset managers.

Our banking and finance team has already amassed considerable experience of providing advice to large and complex organisations but we also have several distinctive features which together set us apart in our legal offering. These include our specialist knowledge of Lloyd’s, the PRA and FCA and the regulatory framework that the UK insurance industry operates in and how this impacts on banking and finance transactions within the industry and our specialist experience of the structural and regulatory aspects of the Islamic insurance sector (Takaful), including in relation to issues of Shari’a compliance.

Our wide ranging expertise includes the following areas:

  • FAL Letters of Credits into Lloyd's
  • Leveraged/acquisition finance
  • Debt restructuring and insurance related work outs
  • Asset backed finance
  • Emerging markets and structured financing
  • Islamic finance
  • General corporate lending
  • Regulatory capital instruments

We place as much emphasis on practical experience as on our legal know-how. Our strengths lie in our determination to get to know our client's insurance business from the bottom up, our commitment to providing maximum efficiency at competitive prices and our truly seamless and global service.

Our Insurance Finance Work

  • Tout
  • Royaume-Uni et Europe
  • Fraud screening processes uncovers large motor fraud ring

    We acted for an insurer on a large motor fraud operation. The operation focused on 367 third parties claiming against 136 fraudulently incepted policies and was complex given it involved suspected staged accidents where often individuals did not exist. The strategies resulted in savings of 3.4 million for the insurer client. Additionally, following over 500 individuals being under investigation; payments were made on just 4 claims in total (97.55% success rate).

    Royaume-Uni

    Fraudulent claims result in custodial sentences

    We successfully applied for the committal of three Defendants for contempt of court. The application was made following their attempts to bring a fraudulent insurance claim, in relation to a staged road traffic accident. The first and third Defendants filed witness statements refuting our client’s allegations of fraudulent behaviour. All Defendants received custodial sentences, this ruling has important ramifications for those involved in fraudulent claims. 

    Royaume-Uni

    Own goal by non-league footballer as TV appearance defeats dishonest claim

    The claimant, attempted to claim over £55,000 for injury in a road traffic accident, he claimed that injuries to his foot meant he could neither stand nor walk for long periods. His appearance on Sky TV’s Soccer AM for scoring a goal from the halfway line, was one of the pieces of evidence we presented to the Court to prove the claimant was exaggerating the extent of his injuries. He agreed to a court order to withdraw his insurance claim and pay £5,000 costs.

    Royaume-Uni

    Employee-led fraud ring

    Representing a large local authority on a sensitive employee-led fraud ring. We ensured that reputational damage was avoided whilst achieving maximum repudiation and an IFED referral.

    Royaume-Uni

    Exaggerated claim undone by investigation

    We acted for a large public liability insurer following a genuine accident. The claimant alleged serious physical and psychological injuries, with his claim for damages and costs in excess of GBP 40,000. Our investigation uncovered that he was lifting heavy weights and we obtained video of him on one of the world’s highest waterslides. At trial, the claim was dismissed and the claimant was ordered to pay GBP 14,000 in costs.

    Royaume-Uni

    Exaggeration costs claimant dearly

    Following a genuine accident at work, our insurer client contacted us as they were concerned about the extent and impact of the injuries. This claim was handled using our Project Martello strategy for exaggerated claims. Our investigation uncovered that the Claimant was much more active than he was admitting. The Court ordered that the GBP 260,000 claim be discontinued and the claimant to pay GBP 5,000 to the Defendant.

    Royaume-Uni

    First industry-wide EL/PL fraud ring

    Acting for several large clients in the Preston area dealing with, what was deemed to be, the first industry-wide EL/PL fraud ring. We assisted our client by liaising with the IFB and delivered a 100% repudiation rate for all intimated claims.

    Royaume-Uni

    First private prosecution for public liability claim

    Acting on behalf of a global insurer defending a staged tripping claim brought against a supermarket. After defending the original GBP 60,000 claim to a successful conclusion at trial, we then pursued a private prosecution against the claimant - who received a 21 month suspended jail sentence for her part in the scam.

    Royaume-Uni

    Motor Fraudsters jailed for contempt of court

    We pursued contempt of court actions against three individuals who had brought claims against a top 10 UK motor insurer following a staged road traffic accident, part of a larger fraud ring investigation. While the claims had not proceeded to trial meaning the three individuals hadn't lied under oath, we pursued contempt proceedings and they each received prison sentences of between 4 and 6 months.

    Royaume-Uni
  • Fraudulent claims result in custodial sentences

    We successfully applied for the committal of three Defendants for contempt of court. The application was made following their attempts to bring a fraudulent insurance claim, in relation to a staged road traffic accident. The first and third Defendants filed witness statements refuting our client’s allegations of fraudulent behaviour. All Defendants received custodial sentences, this ruling has important ramifications for those involved in fraudulent claims. 

    Royaume-Uni

    Fraud screening processes uncovers large motor fraud ring

    We acted for an insurer on a large motor fraud operation. The operation focused on 367 third parties claiming against 136 fraudulently incepted policies and was complex given it involved suspected staged accidents where often individuals did not exist. The strategies resulted in savings of 3.4 million for the insurer client. Additionally, following over 500 individuals being under investigation; payments were made on just 4 claims in total (97.55% success rate).

    Royaume-Uni

    Own goal by non-league footballer as TV appearance defeats dishonest claim

    The claimant, attempted to claim over £55,000 for injury in a road traffic accident, he claimed that injuries to his foot meant he could neither stand nor walk for long periods. His appearance on Sky TV’s Soccer AM for scoring a goal from the halfway line, was one of the pieces of evidence we presented to the Court to prove the claimant was exaggerating the extent of his injuries. He agreed to a court order to withdraw his insurance claim and pay £5,000 costs.

    Royaume-Uni

    Employee-led fraud ring

    Representing a large local authority on a sensitive employee-led fraud ring. We ensured that reputational damage was avoided whilst achieving maximum repudiation and an IFED referral.

    Royaume-Uni

    First industry-wide EL/PL fraud ring

    Acting for several large clients in the Preston area dealing with, what was deemed to be, the first industry-wide EL/PL fraud ring. We assisted our client by liaising with the IFB and delivered a 100% repudiation rate for all intimated claims.

    Royaume-Uni

    Motor Fraudsters jailed for contempt of court

    We pursued contempt of court actions against three individuals who had brought claims against a top 10 UK motor insurer following a staged road traffic accident, part of a larger fraud ring investigation. While the claims had not proceeded to trial meaning the three individuals hadn't lied under oath, we pursued contempt proceedings and they each received prison sentences of between 4 and 6 months.

    Royaume-Uni

    Exaggerated claim undone by investigation

    We acted for a large public liability insurer following a genuine accident. The claimant alleged serious physical and psychological injuries, with his claim for damages and costs in excess of GBP 40,000. Our investigation uncovered that he was lifting heavy weights and we obtained video of him on one of the world’s highest waterslides. At trial, the claim was dismissed and the claimant was ordered to pay GBP 14,000 in costs.

    Royaume-Uni

    Exaggeration costs claimant dearly

    Following a genuine accident at work, our insurer client contacted us as they were concerned about the extent and impact of the injuries. This claim was handled using our Project Martello strategy for exaggerated claims. Our investigation uncovered that the Claimant was much more active than he was admitting. The Court ordered that the GBP 260,000 claim be discontinued and the claimant to pay GBP 5,000 to the Defendant.

    Royaume-Uni

    First private prosecution for public liability claim

    Acting on behalf of a global insurer defending a staged tripping claim brought against a supermarket. After defending the original GBP 60,000 claim to a successful conclusion at trial, we then pursued a private prosecution against the claimant - who received a 21 month suspended jail sentence for her part in the scam.

    Royaume-Uni

Key Contacts

Chris Lenton
Chris Lenton

Partner

Matthew Weedon
Matthew Weedon

Consultant

Ivor Edwards
Ivor Edwards

Partner

Peter Hodgins
Peter Hodgins

Partner