Guernsey

Fiona Le Poidevin, Deputy Chief Executive of Guernsey Finance, explores how captive insurance offers a new revenue stream for brokers.

United Kingdom

The underlying principles of a "knock for knock" scheme are well established.

In this article, we provide a summary of points to have in mind when drafting warranties and conditions precedent.

The issue of auditors’ liability to third parties has been brought sharply into focus recently with The Company Law Reform Bill which embodies some significant changes in relation to auditors’ liability, namely the ability to negotiate "Liability Limitation Agreements".

This case is of interest to insurance lawyers and to the insurance industry in the interpretation of 'sole cause' clauses in insurance contracts.

A summary of the most recent (Re)insurance and litigation caselaw weekly updates for 2013.

A discussion on the latest developments in caselaw relevant to your practice.

Hiscox Syndicate 33 recently became the first Lloyd’s syndicate to enter into a sidecar transaction. This highlights the growing prominence of the sidecar as a capital-raising vehicle for property catastrophe risks.

The recent Court of Appeal decision in AIG Europe v Faraday focused on the interpretation of loss and knowledge in Claims Co-operation Clauses (CCC). The main purpose of a CCC is to ensure that reinsurers are told about matters that may affect them as soon as possible – this decision supports that purpose.

The 'Jackson Reforms' introduce a number of changes to the English litigation costs regime which will affect the overall cost of cases, including for insurers.

In a recent judgment of the Court of Appeal (G Absalom (on behalf of all members of Lloyd’s Syndicate 957) v. TCRU (formerly known as Monument Insurance Brokers Ltd) it was held that a broker who had arranged reinsurance providing for payment by the reinsured of a minimum and deposit premium, was only entitled to be paid brokerage on first, the deposit premium and, second, the total adjusted premium (also known as the minimum) taking into account the deposit premium already paid.

Over the past decade, the English courts have discussed a variety of wordings used in the London Market (for example, "event", "occurrence", and "cause"). Coupled with the drive for contract certainty, it has never been more important to ensure that policy wordings are clear and unambiguous, and to ensure consistency of cover where there is reinsurance and retrocession cover.

Regulatory and criminal investigations and prosecutions under D&O policies raise important issues.

Banks quite naturally have a concern to ensure that the properties on which loans (of whatever scale) are secured retain their value and so generally require borrowers to insure the property against all the usual risks.

A recent Court of Appeal case, has fired a warning shot that the costs of preparation could be disallowed if skeleton arguments are not kept as concise as possible.

The highest appellate court in New York has recently issued its judgment in USF&G v American Reinsurance Co.1. which confirms the high standard the reinsurer will need to satisfy to challenge its cedant's settlements.

Welcome to the eighteenth edition of Clyde & Co’s (Re)insurance and litigation caselaw weekly updates for 2013.

Can members of an LLP be held personally liable for their firm’s unpaid insurance premiums?

Since July 2004 individuals, companies and firms have been able to instruct barristers directly on a public access basis.

The case concerned a claim under a combined property policy covering physical damage and business interruption in respect of the Windsor Court Hotel, a 23-storey property in the central business district of New Orleans.