Risk, Re-/Insurance and Future Thinking
From the category archives:
Insurers should be wary of reliance on an apparently iron-clad warranty. Context is critical, and the courts will look beyond the mere words to discover the true intentions of the parties. In Pratt -v- Aigaion Insurance Company [2008] EWCA Civ 1314, the Court of Appeal held that insurers were not entitled to rely on a [...]
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London Market reinsurers have ended their long-running Commercial Court litigation with Korea National Insurance Corporation (KNIC) by agreeing to pay approximately 95% of KNIC’s reinsurance claim and to retract and withdraw all allegations of fraud and impropriety made against the North Korean insurer. The litigation, which began in January 2007, involved a claim by KNIC to [...]
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In the recent (24.10.08) case of Markel –v- Gothaer Allgemeine & Kontinentale the Commercial Court considered the nature and role of an agent in a dispute over a Claims Co-operation Clause. It’s an oddly fact-specific case, but there are some wider issues in play. This was a summary judgment application by reinsurers (Markel) to dismiss [...]
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[Warning: No reinsurance content] There’s a difference between the two, of course. Today, it rather looks as if justice took a back seat to ‘legality’ in the Lords. First, they approved the extradition of computer hacker and self-styled ‘bumbling computer nerd’ Gary Mackinnon to the US. Officials there are said to wish to see him ‘fry’, though on [...]
We won the second phase of our case for RMP against Brent LBC, Harrow LBC and LAML today. Here is the Press Release. As before, I hope to put up a more comprehensive guide to what the judgment means shortly. London Mutuals Case: Local Authorities Cannot Sidestep EU Procurement Process Another resounding victory for Risk Management Partners [...]
On April 22nd 2008 Lord Justice Stanley Burnton handed down his judgment in R (on the application of Risk Management Partners) –v– the Council of the London Borough of Brent [2008] EWHC 692 (Admin). LAML, who were an interested party in the case, say that the court threw “out claims from the private sector that councils [...]
I just had a big win on a case of major importance in its field. Here is the press release. A more detailed analysis will follow: Local authorities not authorised to act as insurers In a landmark case, the High Court has found that Brent LBC had no power to participate in LAML, a mutual insurer [...]
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Reinsurance assets will more easily be accessible to foreign liquidators in multinational insolvency proceedings following the House of Lords’ decision last week in the long-running HIH saga. Their Lordships found that English courts should co-operate “as much as possible” to ensure that the assets of bankrupt companies based abroad are distributed among creditors under a single [...]
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In the recent case of Expandable Ltd. v. Rubin, the Court of Appeal has held that mere mention of a letter does not automatically waive legal professional privilege. The judgment, given by Rix LJ, went to two points. First, had the letter been “mentioned” for the purposes of CPR 31.14; second, if it was so [...]
I’ve just skim-read the judgment in Equitas v. Horace Holman [2007] EWHC 903. It runs to 108 paragraphs and is the culmination of proceedings that lasted 5 years. The finding? I conclude that Equitas’ money claim succeeds in the sums of US$ 34,614.01 and £3,018.57. I shall hear further submissions if Equitas [...]
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