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Law firm cans its broker exposure report

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Clyde and Co has taken down a report that warned Australian insurance brokers could be exposed to claims as a result of COVID-19 business interruption (BI) cover and the hard directors’ and officers’ (D&O) market.

As reported yesterday, the law firm’s commentary said that brokers could be hit with negligence claims from clients whose insurers are continuing to deny COVID-related BI claims.

It also warned of potential professional indemnity claims from clients who felt they hadn’t been properly advised on D&O.

Today Clyde and Co contacted to request the removal of the article, saying the report on which the article was based is “problematic” and has been removed from its own website.

No further explanation was given but understands the report may be amended and reissued.

Because we have not been able to establish from Clyde and Co what makes their report problematic we have removed the article from yesterday’s daily file.