Ray Giblett

Firm/Organization: Hunton Andrews Kurth LLP, Norton Rose Fulbright

Blogs: Financial services: Regulation tomorrow, Hunton Employment & Labor Perspectives, Insurance law tomorrow

Latest Articles

It’s Now or Never: When Does a Cause of Action Arise Under an Insurance Policy?

By Ray Giblett & Alexander Field on May 23, 2019

I Can you breach an insurance policy before being aware of a claim? The short answer is yes. In a split decision, the New South Wales Court of Appeal recently found a cause of action for breach of an indemnity policy accrues at the time of an insurable event, in this case property damage. In Globe Church Incorporated v Allianz Australia Insurance Ltd [2019] NSWCA 27, Bathurst CJ, Beazley P, and Ward…

Insurance law tomorrow

ASIC consults on new IDR ideas

By Ray Giblett, Matthew Ellis & Timothy Chan on May 16, 2019

The Australian Securities and Investments Commission (ASIC) has released Consultation Paper 311 seeking input from interested parties on 15 proposals that will change the way Australian Financial Services Licence (AFSL) holders conduct and report on internal dispute resolution (IDR) processes. Submissions close on 9 August 2019, with the final revisions to Regulatory Guide 165: Internal Dispute Resolution to be published in December 2019. The measures are proposed to be progressively implemented between March 2020 and…

Insurance law tomorrow

Enforceable code provisions: an interview with John Price, Lead Ombudsman for General Insurance Decisions, AFCA

By Matthew Ellis & Ray Giblett on April 29, 2019

Continuing on from our blog series “Insurance After Hayne”, we will be posting short interviews with industry and legal experts on the Hayne recommendations and the proposed reforms to the industry. In the second instalment of the series, we were joined by John Price, Lead Ombudsman for General Insurance Decisions at the Australian Financial Complaints Authority (AFCA), to discuss Commissioner Hayne’s recommendation to provide for legally enforceable provisions of industry codes. If industry codes are…

Insurance law tomorrow

Back to the drawing board as design and distribution laws pass Parliament

By Ray Giblett, Matthew Ellis & Timothy Chan on April 12, 2019

The Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019 passed Parliament last week and received royal assent shortly after. It introduces design and distribution obligations into the Corporations Act 2001 (Cth), requiring financial services entities to consider the design of their retail financial products and the way they are distributed. The amendments to the Corporations Act 2001 (Cth) also give the Australian Securities and Investments Commission (ASIC) power to intervene…

Insurance law tomorrow

Removal of the claims handling exemption – what will it mean for insurers?

By Matthew Ellis & Ray Giblett on March 27, 2019

A Norton Rose Fulbright webinar with John Anning, Insurance Council of Australia Continuing on from our blog series “Insurance After Hayne”, we will be posting short interviews with industry and legal experts on the Hayne recommendations and the proposed reforms to the industry. In the first of these interviews, Ray Giblett (insurance partner, Sydney) sat down with John Anning, General Manager Policy, Regulation Directorate, Insurance Council of Australia and Matt Ellis (insurance partner, Melbourne) to…

Insurance law tomorrow

Insurance After Hayne Part 6 – The BEAR necessities

By Ray Giblett, Matthew Ellis & Alex Madry on March 15, 2019

Welcome to the 6th and final instalment of our weekly updates following the Hayne Royal Commission into the financial services industry. This week we focus on Recommendation 4.12, in which Hayne recommends that the Banking Executive Accountability Regime (BEAR) be extended to other financial service providers, including insurers. Now that the full contents of the report have been laid bare, we can investigate what extending the BEAR beyond its native banking habitat (that’s the last…

Insurance law tomorrow

A look into the future of insurance…technology partnerships and AI

By Ray Giblett & Timothy Chan on March 12, 2019

How will customers interact with insurers in the future? Is insurtech hype? What technology is already being used? What are the legal implications of these new technologies? These questions were considered by the industry at the 2019 ANZIIF Insurtech Conference held last week in Sydney. Held in conjunction with Insurtech Australia and Insurtech New Zealand, it was a great opportunity for people in different parts of the value chain to meet and collaborate, with delegates…

Insurance law tomorrow

Insurance After Hayne Part 5 – The Three Cs: Claims, Codes and Complaints. A Triple Threat or Opportunity?

By Ray Giblett, Matthew Ellis & Timothy Chan on March 12, 2019

Welcome to Part 5 of Insurance After Hayne, a six part series on our Insurance Law Tomorrow blog focusing on the implications for insurers following the release of the final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services industry. In this week’s article, we explore Commissioner Hayne’s recommendations on claims handling, industry codes and cooperation with the Australian Financial Complaints Authority (AFCA), which replaced the Financial Ombudsman Service on…

Insurance law tomorrow

Insurance After Hayne Part 4 – Spotlight on culture, governance and pay

By Matthew Ellis, Ray Giblett & Timothy Chan on March 1, 2019

Welcome to Part 4 of Insurance After Hayne, a six part series on our Insurance Law Tomorrow blog focusing on the implications for insurers following the release of the final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services industry. In this week’s article, we explore Commissioner Hayne’s recommendations on governance, culture and remuneration, and particular his focus on the people in control: “There can be no doubt that the…

Insurance law tomorrow

What the updated ASX Corporate Governance Principles and Recommendations mean for insurers

By Tricia Hobson, Ray Giblett & Alex Madry on March 1, 2019

As the shadow of the Hayne Royal commission continues to loom over the financial services industry, insurers should be preparing for another change in the governance and compliance landscape which promises to further heighten the demands being made of Australia’s leading financial institutions. The ASX released its updated Corporate Governance Principles & Recommendations this week, and while the spotlight is shone most brightly on ASX listed entities, the ramifications reach further, affecting all insurers…

Ray Giblett

It’s Now or Never: When Does a Cause of Action Arise Under an Insurance Policy?

ASIC consults on new IDR ideas

Enforceable code provisions: an interview with John Price, Lead Ombudsman for General Insurance Decisions, AFCA

Back to the drawing board as design and distribution laws pass Parliament

Removal of the claims handling exemption – what will it mean for insurers?

Insurance After Hayne Part 6 – The BEAR necessities

A look into the future of insurance…technology partnerships and AI

Insurance After Hayne Part 5 – The Three Cs: Claims, Codes and Complaints. A Triple Threat or Opportunity?

Insurance After Hayne Part 4 – Spotlight on culture, governance and pay

What the updated ASX Corporate Governance Principles and Recommendations mean for insurers

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