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August Highlights

Understanding Blockchain, Part 2

In part one of this article, published in the June 2019 issue of the Insurance Research Letter, we provided an overview of how blockchain technology works and how smart contracts are employed to make this technology relevant in this modern economy. Here in part two, we discuss the broader and more global risks of the technology as a whole, and by way of example, the risks as they may present themselves for more specific lines of business. We also present issues to consider as it pertains to the restriction or refinement of policy terms and conditions. Page 10

E-Scooters Are Everywhere Now, but Insurance Coverage for Riders Is Nowhere

In 2018, many major U.S. cities saw electric scooters become ubiquitous. Lime reportedly had 26 million rides in 2018. E-scooters rented out by companies like Lime, Bird, Razor, Lyft, and Spin are part of the growing on-demand economy that includes ride-sharing companies like Uber and Lyft. But are users covered by insurance if they hurt someone or damage property while operating an e-scooter? Probably not. As this industry continues to grow, the importance of clarifying the scope and availability of insurance coverage also grows. Page 11

IRL Contributor Introduces Tall Tower Guide

We live in very interesting times. Anti-law enforcement rhetoric, mental illness and terroristic threats are becoming more prevalent. This Guide has been developed to establish guidance and best practices and stimulate conversations around protecting our buildings from tomorrow’s uncertainties. Page 12

unisonSteadfast Independence Day Conference 2019: Vienna

On June 26, more than 200 brokers of the global unisonSteadfast community, representatives of major insurance carriers and independent insurance experts from all over the world gathered unisonSteadfast’s annual Independence Day Conference 2019 in Vienna. With more than 270 attendees from over 40 countries, the IDC has again grown enormously in size, promising to become one of the leading conferences of the global insurance industry. Page 16

An Update to Restrictive Covenants

Restrictive covenants are a common feature in employment contracts. Their aim and purpose is to protect the employer’s clients, customers and its business. Tillman v Egon Zehnder Ltd was the first Supreme Court decision in almost 100 years to consider restrictive covenants. The judgment has changed the accepted interpretation and overrules the previous Attwood decision. Page 13

GDPR – One year on

The General Data Protection Regulation (EU) 2016/679 (GDPR) came into force on 25 May 2018. This date marked a dramatic change in data protection and privacy. The Information Commissioner’s Office (ICO) is the UK’s independent body set up to uphold information rights. The ICO has recently published an overview of its work regarding the implementation of the GDPR in the last year (May 2018 – May 2019) and future priorities for the year ahead. In this short article, we look at some of the key points of this report and a few of the things to consider in terms of GDPR compliance for businesses for the year ahead. Page 13

British Insurance Awards hits 25th anniversary

It was a night of celebration at London’s iconic Royal Albert Hall at the beginning of July as the British Insurance Awards marked its 25th anniversary. The first British Insurance Awards took place in Grosvenor House but they quickly outgrew that venue and moved to the Royal Albert Hall in 1999. They now attract 2000 guests to the black tie dinner with nearly 30 awards for the general insurance market supported by sparkling entertainment that has people dancing until midnight. Page 16