Norton Rose and Markel update London on Italian insurance market changes
10 September 2012
Markel International, the worldwide specialist insurer and leading international legal practice, Norton Rose Group, recently teamed up with to give a seminar on the latest developments in the Italian insurance market.
The seminar took place at Norton Rose Group’s London office on 6 September and focused on how Italian insurers are facing up to legal changes which could have profound effects on international insurers and brokers who have business in Italy. The seminar included talks from Milan-based Norton Rose Group partners Cecilia Buresti and Nicolò Juvara, who discussed recent developments in Italian medical malpractice jurisprudence and advancement of insurable risks in the D&O coverage market.
Cecilia Buresti, partner at Norton Rose Group in Milan, commented: “Italy is an increasingly important market for the London insurance community. We’ve seen Lloyd’s underwrite a growing amount of business in Italy, and many London-based insurers are looking to increase their business in the country. Events like this are an important part of achieving that, using our own experience to help the London market better understand the key characteristics and dynamics of Italian insurance”
Markel’s Alessandra Vona-Vickery gave an underwriter’s insight, with a concise guide to Italian TPA audits, drawing upon her personal experience of auditing service providers in Italy and giving an overview of the auditing processes and regulatory requirements as well as practical advice for broaching the change in Italian jurisdiction. She concluded that the key message was: “Be prepared, be constructive and help your service provider to help you”.
She added: “Markel has further developed our Italian market operations in recent months, with a raft of new additions to our professional indemnity department in London, including the appointment of underwriters Vittorio Bove and Patrizia Barritini. The Italian market is very important to us and the seminar reflects our commitment to broaden our understanding in London of developments in Italy. Events like this have a collective benefit for brokers, underwriters and lawyers, who can deepen their understanding of the Italian market.”
For more information:
Norton Rose Group
Gavin Collins, PR manager
Tel: +44 (0)20 7444 2466; Mobile: +44 (0)7770 650 113
gavin.collins@nortonrose.com
Felicia Kohn, senior business development manager
Tel: +39 02 8635 941; Mob: +39 339 758 1226
felicia.kohn@nortonrose.com
Markel International
Sean Martin
sean.martin@markelintl.com
Tel: 020 7953 6896 Mobile: 07786 564855
Colleen Faughnan
colleen.faughnan@markelintl.com
Tel: 020 7953 6735
Cubitt Consulting
Michael Henman
michael.henman@cubitt.com
Tel: 020 7367 5100
Notes to editors
Norton Rose Group
Norton Rose Group is a leading international legal practice. We offer a full business law service to many of the world’s pre-eminent financial institutions and corporations from offices in Europe, Asia, Australia, Canada, Africa, the Middle East, Latin America and Central Asia. Knowing how our clients’ businesses work and understanding what drives their industries is fundamental to us. Our lawyers share industry knowledge and sector expertise across borders, enabling us to support our clients anywhere in the world. We are strong in financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and pharmaceuticals and life sciences.
We have more than 2900 lawyers operating from offices in Abu Dhabi, Almaty, Amsterdam, Athens, Bahrain, Bangkok, Beijing, Bogotá, Brisbane, Brussels, Calgary, Canberra, Cape Town, Caracas, Casablanca, Dubai, Durban, Frankfurt, Hamburg, Hong Kong, Johannesburg, London, Melbourne, Milan, Montréal, Moscow, Munich, Ottawa, Paris, Perth, Piraeus, Prague, Québec, Rome, Shanghai, Singapore, Sydney, Tokyo, Toronto and Warsaw; and from associate offices in Ho Chi Minh City and Jakarta.
Norton Rose Group comprises Norton Rose LLP, Norton Rose Australia, Norton Rose Canada LLP, Norton Rose South Africa (incorporated as Deneys Reitz Inc), and their respective affiliates.
Markel International
Markel International is a subsidiary of Markel Corporation. Markel Corporation is a US listed business, capitalised at around $4.0 billion. In 2011, it wrote gross premiums of $2.3 billion. Based in London and comprising the international operations of Markel Corporation, Markel International wrote gross premiums of $825 million in 2011. It has seven operating divisions and nine overseas offices writing business either through Markel Syndicate 3000 or Markel International Insurance Company Limited. See www.markelintl.com