Top 10 Insurance Headlines from Europe A UK High Court Judge has ruled that Equitas, (Berkshire Hathaway’s run-off vehicle), may recover reinsurance losses based on modelled calculations of the LMX Brandywine spiral, setting an important legal precedent. The nature of a construction project gives rise to the possibility of numerous individual defects or losses arising which may be brought together in one or more claims. Do you have a Loan with a lender which was signed before 6th April 2007 and which was for £25,000 or less (and which was a private loan ie not for business purposes)? If so it may be wholly unenforceable against you !! Amidst the wider discussions surrounding the cuts to public spending, there is talk of a possible tax overhaul for insurance companies in the forthcoming Pre-Budget Report. The FSA accepts that PPI has an important role in protecting consumers’ repayments, particularly in the current economic climate. This was a case giving rise to issues of both jurisdiction and governing law under a contract (or contracts) of excess of loss reinsurance issued by the Defendants, to the Claimant ("Gard"), a reinsured domiciled in Bermuda. Any property might have chancel repair liability attached to it. Such liability can often be onerous and will affect the owner and any mortgagor of the property. As an example of how obscure cases in the European Court of Justice (ECJ) can have unexpected consequences, the decision of the ECJ in Swiss Re Germany Holding GmbH v Finanzamt München für Körperschaften on 22 October 2009 takes some beating. On 22 October 2009 the European Court of Justice (ECJ) delivered judgment concerning the VAT treatment of portfolio transfers of both primary and reinsurance business, a case that came before the ECJ upon referral from the German Federal Tax Court (BFH). This discussion highlights just some of the main areas in which careful judgment should be exercised by a director, or, more usually, the company secretary overseeing cover for the board. | 
