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Insurers Short Of Time On Brexit Plans, Ratings Agency Says

Law360, London (November 19, 2018, 6:28 PM GMT) -- London insurers may not be able to shift their cross-border contracts into the European Union in time for Brexit and will need a transition deal to help them avoid breaking the law if they pay out on policies, ratings agency A.M. Best warned Monday.

Catherine Thomas, senior director of analytics at A.M. Best, said many companies had formed new EU subsidiaries to help them cope with the disruption that Britain’s imminent departure from the bloc will bring. U.K. businesses will lose their passporting rights, which allow them to offer services to EU states, if the country crashes out of the bloc without...
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Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.

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