Nigel Wick
Partner
About Nigel
Nigel advises upon a wide range of insurance/reinsurance contract issues, both as regards the development/review of insurance wordings and structures and insurance claims. Having been seconded to work in the insurance market, his advice is underpinned by an understanding of how the industry operates.
Nigel acts for insurers, reinsurers, brokers, and major insured entities and their captive insurers. Nigel is regularly engaged in relation to the development/review of insurance wordings including WELCAR, Onshore/Offshore Property/BI, marine liability, product liability, marine cargo, shipbuilding, gas storage, LME Metals storage, political risk and trade credit. Nigel also undertakes pre acquisition claims due diligence reviews and recent work includes a pre-acquisition claims due diligence review exercise in relation to proposed acquisition of Lloyd’s Syndicate, Managing Agency and Corporate Members, a pre-acquisition claims due diligence review exercise in relation to the proposed provision of adverse development cover for a casualty book of a Lloyd’s Syndicate, and various dispute/litigation reviews for purchasers of target companies.
With regard to claims work, Nigel has been involved in some of the largest market losses of recent times including those arising from COVID-19, the Queensland Floods, and various major onshore and offshore energy losses. Nigel also advises in relation to professional indemnity matters, particularly brokers’ negligence.
His experiences includes:
- Various PD/BI coverage matters arising from COVID-19
- USD 150 million PD/BI claim in relation to major hotel group arising out of the SARS epidemic involving issues as to wide area damage
- Various Ethylene Cracker Plant PD/BI claims (Netherlands, Germany, Singapore) under operational policies for Oil & Gas Major
- Various North Sea PD/BI claims under operational policies including the USD 1 billion Gryphon Field claim
- The USD 1.2 billion Jubilee Field FPSO MV21 Kwame Nkrumah PD/BI claim
- Various Solar Power Plant PD/BI claims in the Middle East and Africa
- Various Hydro Power Plant CARDSU claims (for example in the DRC and in Peru)
- The Siri Platform PD/BI claim
- PD claim in relation to damage to oil storage tank in Kuwait
- PD/BI claim under operational policy in relation to Aluminium Smelter in KSA
- USD 1.2 billion PD/BI claim arising out of the Queensland Floods involving issues as to wide area damage
- USD 200 million PD/BI claim in relation to Lithuanian refinery fire involving issues in relation to the gross profits formula
- NOK 660 million BI claim arising out of fire at Norwegian coal mine involving issues in relation to post indemnity period claw back
- CAR arbitration in respect of $50m Indonesian property damage/ICW claim following landslip in the course of construction project
- CAR PD claim arising from damage to sub-sea Xmas trees in gas development project installed off Sabah, Malaysia
- PD/BI claim for Indian insured relating to damage to gas pipeline
- PD claim for South Korean contractor relating to damage to the world’s largest floating structure.
Nigel has been recommended in both Chambers and the Legal 500 as “handling cases with real verve” and being “a strong insurance lawyer who knows his stuff”. The current edition of Chambers (2022) records: “Nigel Wick is adept at handling a range of insurance and reinsurance matters on behalf of policyholders. He has particular experience in disputes involving both onshore and offshore energy facilities”.
“Nigel has a really strong technical knowledge of insurance – he understands the field well”.