Sullivan & Worcester Advises ITFA on New Insurance Guidelines
London, UK; August 9, 2016 – Sullivan & Worcester has advised the insurance committee of the International Trade and Forfaiting Association (ITFA) in relation to new guidelines on structure and content for non-payment insurance policies in light of the Insurance Act 2015 and to be compliant with Capital Requirements Regulation (CRR).
An ITFA survey in late 2015 showed that ITFA members wished to obtain guidance on mitigating risks related to transactions through insurance in compliance with regulatory requirements. The guidelines particularly address the impact of the UK Insurance Act 2015 which comes into effect on August 12, 2016.
The guidelines will be presented to the ITFA membership at the Annual Conference in Warsaw during the insurance panel on Friday 9 September, 2016. The guidelines are already available to ITFA members, through their website, which also has more ITFA conference details.
Sullivan & Worcester London partners Geoffrey Wynne and Marian Boyle advised the ITFA Insurance Committee in relation to the new guidelines.
About Sullivan & Worcester
Sullivan & Worcester is a leading law firm advising clients ranging from Fortune 500 companies to emerging businesses. With 175 lawyers in Boston, London, New York, Tel Aviv and Washington, D.C., the firm offers services in a wide range of areas, including corporate finance, banking, trade finance, insurance, securities and mutual funds, litigation and dispute resolution, mergers and acquisitions, intellectual property, tax, real estate and REITs, private equity and venture capital, bankruptcy, environment and natural resources, climate change, renewable energy and water resources, regulatory law, and employment and benefits law.
Sullivan & Worcester was named “Best Law Firm in Trade Finance” by Trade & Forfaiting Review (TFR) for the third year running in the TFR Excellence Awards 2016. In addition, Global Trade Review (GTR) named Sullivan & Worcester the "Best Trade Finance Law Firm" 2015 at its annual “Leaders in Trade Awards.” Sullivan & Worcester is also acknowledged as a market leader for trade finance in both the UK Legal 500, 2015 and Chambers UK, 2016. Sullivan & Worcester’s London office is in the heart of the City of London. For more information, please visit www.sandw.com and @sullivanlaw.
+44 (0)1603 431 936