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Clifford Chance

Clifford Chance
Baljit Rai

Baljit Rai

Senior Associate

Senior Associate
Baljit Rai

Baljit Rai has over 21 years' experience of acting in commercial litigation and arbitration disputes in relation to insurance and reinsurance matters, specialising in advising insureds on policy wordings and policy coverage issues.

Baljit also advises on non-contentious insurance issues including policy wordings (e.g. Directors and Officers, Political Risk, Trade Disruption Insurance, Political Risk and Credit Insurance) and insurance structures.

Baljit has particular specialisation in and regularly advises a number of major banks and other financial institutions on the use of credit insurance as a credit risk mitigant under the Basel Accords and the Capital Requirements Regulation.

  • Advising a client (Buyer) in relation to a claim on its Warranty & Indemnity Policy following breaches of warranties by the Seller under an Acquisition Agreement;
  • Advising a client in relation to its claim on a Contingency Cancellation Insurance Policy following cancellation of events due to Covid-19;
  • Advising a reinsured on the aggregation of Event Cancellation claims (arising as a result of Covid-19) under its reinsurance policy;
  • Advising a client in HKIAC arbitration proceedings in respect of a claim on its D&O Policy.
  • Regularly advising banks and other financial institutions on the use of credit insurance and Risk Participation Agreements as a credit risk mitigation tool under the Basel III/Capital Requirements Regulation framework in a number of contexts (e.g. loans, non-recourse receivables, etc.).
  • Representing and advising a major European oil and gas company in LCIA arbitration proceedings in relation to its claim under a Trade Disruption Insurance Policy following the stoppage of its operations in North Africa.
  • Acting for a client in relation to a claim made under a Non-Appearance and Cancellation Insurance Policy.
  • Advising a major oil services company in relation to its claim under political risk and non-payment insurance policies following expropriation of assets in Venezuela and non-payment under a services contract.
  • Representing a large Spanish multinational corporation in relation to its claim under a Trade Disruption Insurance Policy against London insurers concerning a Mexican waste disposal plant.
  • Regularly advising insureds on their rights and obligations under policy wordings including ensuring that the insurance is properly tailored to the underlying risk.
  • Advising and representing FTSE top 250 Company in relation to a claim exceeding £100 million on its product liability insurance policy.
  • Advising on insurance aspects in a number of project financings and corporate transactions.
  • Successfully representing a large Swiss reinsurance company against its reinsured in an arbitration dispute as to whether it was entitled to avoid the reinsurance contract on the basis that there had been a material change in the risk insured.

News and client work

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Contact details

Career and qualifications

  • St Hilda's College, Oxford University (BA MA Jurisprudence) 1996
  • Joined Clifford Chance 1997
  • Admitted as a solicitor in England & Wales 1999
  • Secondment to one of the largest reinsurers worldwide 2004
  • Secondment to a global bank 2009

Awards and citations

  • Philip Hill and Baljit Rai are both knowledgeable and approachable, and can be depended upon to give good advice‘
    Legal 500 2019
  • ‘Baljit Rai is knowledgeable, easy to work with, excellent at managing the team and spotting (and dealing with) obstacles on the horizon
    Legal 500 2019