The latest update from FOIL;
Toby Vallance, Partner at international law firm DAC Beachcroft, has been elected President of London FOIL and will lead the organisation through the next year. London FOIL is a division of the Forum of Insurance Lawyers (FOIL), which focuses on the challenges facing the global insurance and reinsurance markets operating in the UK’s capital.
Toby succeeds Gavin Coull of law firm Birketts, who acted as President during a particularly difficult time for the market, which faced the initial impact of the Russia-Ukraine war. With 16 years of experience in the insurance sector, Toby primarily specialises in marine ,energy and mining-related claims, alongside any related cyber risks. Toby is also an expert on climate change risk and regularly advises clients on the broad implications of climate change for the insurance market.
Throughout 2022 the London market has had to grapple with the international impact of the Russia-Ukraine war, following the cautious optimism many held earlier in the year as markets began to financially recover from the Covid-19 pandemic.
With the entire insurance industry now facing difficulties at a scale not seen in decades, FOIL and London FOIL members will continue to support insurers in navigating legal risks during this time of hesitancy and uncertainty moving into 2023.
Other key areas London FOIL will focus on include:
- Managing the global transition to clean energy usage, in light of growing expectations on insurers to support green policies
- The impact of the upcoming appeals over Covid-19 business interruption claims
- The development of the Protect Duty legislation
Fleur Rochester, Partner at Kennedys, becomes Vice-President of London FOIL, and will work alongside Toby.
Commenting on his appointment, Toby said:
“It is a privilege to be appointed as President of London FOIL in what is sure to be a challenging year ahead. The London Market is facing global risks not seen at a level since the Cold War – we’re entering unfamiliar territory, and new and innovative solutions are needed to tackle these new challenges.
I’m looking forward to working with Laurence and the membership to ensure that both FOIL and London FOIL can effectively help our insurer clients meet the demands facing the sector.”
Commenting on Toby’s appointment, FOIL CEO Laurence Besemer said:
“Toby is a long-time member of London FOIL’s Executive Committee and knows the London Market inside out – he is perfectly qualified to take the helm and lead the organisation during these uncertain times of financial turmoil across the globe.
From growing expectations on insurers to prove they are paying more than lip service on ESG, to meeting lofty demands that the industry will support the clean energy transition, the London Market is set to be the bastion for progressive change in the corporate world, and I have every confidence that Toby will lead London FOIL with great success.”
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