Global law firm Norton Rose Fulbright has advised Wildfire Defense Systems on the establishment of the Wildfire Defense Syndicate 1996.
The WDS Syndicate, which commenced underwriting on 1st July 2023, is managed by Polo Managing Agency and will focus on providing excess and surplus lines property insurance for California wildfire exposed commercial risks.
The WDS Syndicate has been launched as a syndicate-in-a-box, a new structure created by Lloyd’s to allow smaller businesses to become part of the Lloyd’s insurance market without the usual conditions imposed on larger insurance businesses.
The structure enables the WDS Syndicate to write risks of a more substantial nature, enabling it to help keep California businesses in operation, protect them from loss, provide for business continuity, and reduce the wildfire economic impact to society.
The Norton Rose Fulbright team was led by partner Nicholas Berry with assistance from Counsel Simon Baker, senior associate David Bartlett, associate Jess Bruneau and trainee solicitor Kimberly Stiegler. Partner Josh Tod advised WDS on investment-related matters.
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