April, 2024

War in Ukraine – Insurance and Reinsurance Issues

Thursday 18th April 2024 – 1pm – 2pm UTC

Zoom registration link: https://lnkd.in/eQb_iJsg

Description

This Masterclass will provide an overview of the Insurance and Reinsurance issues arising from the Russian Federation’s invasion of Ukraine in February 2022.

In this webinar, they will provide an overview of the relevant insurance and legal issues, encompassing:

  • (Re)insurance market response to war in Ukraine
  • Aviation insurance / reinsurance disputes involving aviation assets in Russian Federation and Ukraine  
  • Marine insurance / reinsurance disputes regarding ships damaged / detained in Ukraine waters / ports 
  • Property damage claims in Ukraine 
  • Supply chain Business Interruption claims for customers of Ukrainian manufacturers 
  • Possible routes to recovery from Russian Federation for uninsured losses 
  • Impact of sanctions on (re)insurance claims
  • Current availability of war risk cover in Ukraine and market response

Speakers:

Paul Wordley

Partner, Wordley Partnership

Paul is one of the founding partners of the Wordley Partnership, having been a partner in a major international law firm where he was Global Head of Insurance & Reinsurance and a member of the Management and Strategy Boards, respectively.

Paul’s expertise is geared towards advisory, complex claims, dispute resolution and coverage issues in the international Insurance and Reinsurance markets. He acts for policyholders, insurers, brokers, intermediaries, and reinsurers. His industry sector areas of expertise are in financial risks, industrial risks, commodities, technology and natural resources. He has advised on high-profile supply chain failures and Insurance / Reinsurance claims around the world.

Paul has been involved in a number of high-profile international Insurance and Reinsurance claims over the last four decades and also regularly advises international clients on risk transfer, risk management and complex claims. He has significant mediation experience having represented clients in several successful multi-million-dollar mediations.

Paul is a recognised International Arbitration specialist and has advised on or conducted numerous arbitrations pursuant to ICC, LCIA, UNCITRAL, ICSID, SCC, LMAA and ad hoc arbitration regimes.

Paul has been consistently recognised and recommended by expert legal directories as ‘exceptional’ and has become a thought leader in the natural resources insurance sector. He is a founder member and director of the Mining Insurance Risk Association. He was a member of the Law Society Indemnity Task Force which oversaw the ending of the Solicitors Indemnity Fund monopoly and the introduction of commercial insurance to solicitors’ PI.

Costas Frangeskides

Partner, Wordley Partnership

Costas was a partner at a leading international City law firm for more than 20 years before joining Wordley Partnership in 2021.

He has practised for almost 30 years specialising in insurance and reinsurance law and practice, professional negligence, commercial litigation, and international arbitration.

Costas has led cases for major insurance and reinsurance companies, international brokers, multi-national companies and states.  He prides himself in being a trusted adviser with an excellent track record in commercially resolving disputes for clients. However, when required he has been successful before the courts and in arbitration. Reported cases include :Allianz v Aigaion, CA (2009) (brokers’ liabilities), JSC Bank v Ablyasov & ors (2010) (freezing orders/fraud claims); Apostolides v Orams (2010) ECJ and Court of Appeal (EU and public international law); AIG Capital partners and another v Republic Of Kazakhstan (2005) (state immunity); and AXA v Arab Insurance Group (2016), Court of Appeal (a leading case on avoidance/rescission). Costas was also the lead partner on the investor / state ICSID international arbitration matter, Safa v Hellenic Republic (2019).

Costas has also led teams, whether under common law or civil law traditions, in many jurisdictions. 

Costas is pleased that his efforts are recognised by clients in the leading legal guides, more recently in the Legal 500 (2021):  “Costas Frangeskides is a great person and an even better attorney. He brings a vast amount of insurance industry experience to his work, and he is great at cross-border work. His historic knowledge often comes into play when providing advice, and he is always willing to drop everything for a time sensitive project. It is a pleasure working with him.” (Insurance and Reinsurance Litigation). “Costas Frangeskides stands out because of his ability to understand the client’s needs, to bring together an appropriate team, and to focus that team efficiently to deliver appropriate advice. It has been particularly appreciated on international matters where we’re dealing with legal systems (and languages) other than English.” (Professional Negligence);  I am recognised as a leading International Arbitration lawyer for: “Excellent experience in international arbitration”; “Excellent knowledge of our industry”. (Arbitration);  “Costas Frangeskides excels in disputes across the US, Europe and the MENA region.” (Commercial Litigation – Premium) . With the support of his peers he is also named as a leading insurance and reinsurance lawyer in the Media Group Guide to the World’s Leading Lawyers. 

Costas is an active member of various trade and institutional arbitral institutions (e.g. ARIAS, ICC, LCIA, BILA and IRLA), a Member of the Chartered Institute of Arbitrators and of the ICC UK’s Arbitration and ADR Committee with other leading International Arbitration lawyers. He is qualified in England and Wales.

Solomiya Boyar

Associate, Wordley Partnership

Solomiya is an Associate in the Wordley Partnership London office and started at the firm in September 2019.

Solomiya is a highly motivated and accomplished Associate with a strong foundation in litigation, arbitration, and commercial dispute resolution across diverse sectors and fields. Possessing a comprehensive understanding of legal frameworks, procedural intricacies, and strategic approaches, Solomiya is dedicated to providing exceptional legal advice and representation to clients. She is an adaptable professional, commercially and quantitatively aware.

Solomiya is committed to continuous learning and staying abreast of legal developments. In her prior professional engagement, she has demonstrated practical and accountable expertise in  providing legal & business support including, complex CIS immigration & commercial negotiations, international trade agreements & logistics, Private Equity conveyance and development services. Here at Wordley Partnership, Solomiya actively collaborates with partners working on various matters involving commercial and insurance litigation, advisory, alternative dispute resolution, and international arbitration. 

Her goal is to contribute meaningfully to the legal community while delivering optimal outcomes for clients facing complicated legal challenges. Solomiya’s particular area of interest lies in the financial services, jurisdiction, and assets recovery.

Solomiya is fluent in Ukrainian, English and Russian languages. 

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