In TKC London Ltd v Allianz Insurance plc  EWHC 2710, the Commercial Court considered the summary dismissal of TKC London Ltd’s claim against its insurer, Allianz Insurance plc, concerning certain business interruption losses that arose due the closure of its business in compliance with COVID-19 related governmental measures.
Many insurtech companies, and their investors, eventually face the choice of whether to remain an insurance producer (i.e., an insurance agency, brokerage or managing general agent), licensed to sell, negotiate and possibly underwrite insurance, or become a fully licensed insurance company. By becoming a “full-stack” insurance company, the insurtech company […]
At a hearing on 2 October 2020, the court made a number of orders following on from its judgment. The court granted “leapfrog” appeal certificates to the FCA, to six of the insurers involved in the test case and to one of the intervening policyholder action groups. This means that […]
Following the judgment, handed down on 15 September, it has been confirmed that there will be a hearing on 2 October at which the court will hear any applications for permission to appeal. The court will also consider whether any appeal should “leapfrog” the Court of Appeal and proceed straight […]
On 15 September the High Court handed down its judgment in the Financial Conduct Authority’s COVID-19 business interruption insurance test case. While there are mixed results in relation to a large number of questions, the court has ruled in favour of the policyholders’ arguments on most of the issues. The FCA […]
In Aviva Insurance Ltd v David Oliver  EWHC 2824 (Comm), Aviva Insurance Ltd (“Aviva”) brought a claim against David Oliver (the “Defendant”) based on the Defendant’s misuse of Aviva’s confidential policyholder information. Aviva’s claim included: (i) breach of confidence; (ii) inducing a breach of contract; and (iii) unlawful means conspiracy. […]
It is rare for insurers to succeed in refusing to pay out because the insured ship was scuttled. The burden of proof on the insurers is high and the evidence may be at the bottom of the sea. The “BRILLANTE VIRTUOSO” ((1) Suez Fortune Investments Ltd (2) Piraeus Bank AE v […]
High Court grants order for pre-directions in relation to scheme of arrangement potentially affected by Brexit
In AXA Art Vershicherung AG, UK Branch and Others, Re  10 WLUK 186 Roth J considered a joint application from three companies for pre-directions with regard to a proposed business transfer scheme. The three applicants were a German company, a French company and an Irish company, all within the […]
The Cooley team had a busy ITC, attending seminars and breakouts, meeting clients and contacts and immersing themselves in the world of Insurtech. More details of Cooley’s extensive work in the Insurtech space can be found here. What were the takeaways from the conference?