Guernsey

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

Ireland

The Injuries Board has published its Annual Review for 2012, outlining key statistics relating to personal injury claims in Ireland.

The Minister for Justice, Equality and Defence, Alan Shatter TD, recently announced the publication of the Courts Bill 2013.

Russian Federation

Russian insurance law contains all the key features one might expect, including rules relating to disclosure, contract formation, liability, indemnity and subrogation. Most of the relevant rules are to be found in article 48 of the Civil Code.

United Kingdom

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

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

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".

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

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

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

Time and Tide owned the freehold to an office block in Bedford that had planning permission for redevelopment for residential use.

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.

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.

The Commercial Court has reiterated that "loss" in a notification clause means actual loss to the reinsured.

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.

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.

This case considered whether, where a liability policy contained an exclusion excluding liability arising under a contract, unless such liability would have attached in the absence of such a contract, and where there was a judgment finding the insured liable for breach of contract, that foreclosed the question as to whether there was also tortious liability that would fall within the terms of cover.

A discussion on the impact of the key provisions of the Consumer Insurance (Disclosure and Representations) Act 2012 on the private yacht and pleasure craft insurance.