Category: Insurance

Commercial court considers extension of time to challenge arbitral award

In S v (1) A (2) B [2016] EWHC 846 (Comm), Mr Justice Eder refused to grant an extension of time under the Arbitration Act 1996 (the “Act”) s.80(5) to challenge an arbitral award, following the applicant’s 74-day delay in applying and its failure to demonstrate that there had been […]

Court of appeal considers interpretation of aggregation clause in solicitors’ professional indemnity insurance

In AIG Europe Limited (Appellant) v OC320201 LLP (formerly The International Law Partnership LLP) & 5 others (Respondents) & The Law Society of England and Wales (acting in its regulatory capacity as the Solicitors Regulatory Authority) (Intervener) [2016] EWCA Civ 367, the Court of Appeal determined the true construction of […]

Third Parties (Rights Against Insurers) Act 2010 to come into force in August 2016

A statutory instrument has recently been passed providing that the Third Parties (Rights Against Insurers) Act 2010 will, finally, come into force on 1 August 2016, some six years after it was first passed.

Enterprise Bill receives royal assent

On 4 May 2016 the Enterprise Bill received royal assent and will come into force in May next year. From an insurance perspective, the Enterprise Act 2016 will have important ramifications, as it introduces amendments to the Insurance Act 2015 allowing for damages to be claimed for the late payment of […]

Supreme Court considers compensation under the Riot Act

In The Mayor’s Office for Policing and Crime v Mitsui Sumitomo Insurance Co (Europe) Ltd & Ord [2016] UKSC 18, the Supreme Court ruled on the quantification of compensation available to insurers under the Riot Act 1886, following insured losses caused by the London riots in 2011. The principal issue […]

Technology and Construction Court considers the meaning of “deliberate … non-disclosure” in an insurance policy exclusion clause

In Mutual Energy Ltd v Starr Underwriting Agents Ltd & Anor [2016] EWHC 590 (TCC), the Technology and Construction Court has held that the words “deliberate … non-disclosure” must involve dishonesty. A company’s honest but mistaken belief that something need not be disclosed was not enough to allow insurers to […]

Online eligibility requirements will frustrate some insurance businesses, but remedies are available

Businesses operating within the insurance industry will soon be able to use <[name].insurance> domain names to direct customers to their online content.  The application process for these industry-specific names begins on 3 May 2016 and combines substantive eligibility and administrative requirements.

Court of Appeal approves third party costs order against an insurer

In Legg & Ors v Sterte Garage Ltd and Aviva UK Limited [2016] EWCA Civ 97, the Court of Appeal upheld the first instance decision that a third party costs order made against the defendant insurer was justified in circumstances where there was ample evidence that the insurer had acted […]

#InsurTech, and the emergence of Peer-to-Peer insurance

Insurers and insurance distributors don’t usually think of themselves as emerging companies. These industries “emerged” more than 300 years ago; and they’ve been growing and developing ever since. So why is Cooley being asked about #InsurTech and Peer-to-Peer (P2P) insurance so often? Answer: because these things are real, they’re growing, and they’re coming to EC3. (In fact, they’re already here.)

Commission Publishes Preliminary Findings of Insurance Block Exemption Review

On 17 March, the European Commission published the preliminary findings of its review of the Insurance Block Exemption Regulation (“IBER”).  The IBER provides a safe harbour from the EU law prohibition of anticompetitive agreements for specific types of insurance industry practice that fall within its scope.