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High Court Rules That Certain Provisions Of Domestic Motor Insurance Law Contravene Insurance Directive 2009/103

In RoadPeace v Secretary of State for Transport & Motor Insurers’ Bureau (Interested Party) [2017] EWHC 2725 (Admin), the claimant – a road safety charity – claimed that certain provisions of UK law relating to compulsory vehicle insurance and compensation for victims of uninsured/untraced divers contravened European Directive 2009/103 (“the Directive”).  Continue reading

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High Court confirms position on qualifications of arbitrators

In Tonicstar Limited v Allianz Insurance PLC & Ors [2017] EWHC 2753 (Comm) Mr Justice Teare confirmed that where an arbitration clause specifies that the arbitrators should have “experience of insurance or reinsurance”, it will not be sufficient for a proposed arbitrator to have experience of insurance or reinsurance law, or having worked as a professional advisor to the insurance or reinsurance industry; the experience must be in the business of insurance or reinsurance itself.

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Update on Cooley forum on House of Commons Treasury Select Committee Solvency II Inquiry

On 11 October 2016 Cooley hosted a breakfast forum on the House of Commons Treasury Select Committee Solvency II Inquiry. We collated the views of those attending the forum and a few others who had not been able to make it and submitted a note of those views to the Committee. The Committee has now published its report (Treasury Committee publishes Report on EU insurance regulation) and we are pleased that the evidence that we submitted has been taken into account in the Committee’s findings and recommendations.

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High Court rules on application of exclusion clauses in insurance contracts

In Timothy Crowden & Carol Crowden v QBE Insurance (Europe) Ltd (2017) EWHC 2596 (Comm) the claimants suffered significant economic loss after receiving advice from a financial advisor insured by QBE. The claimants were advised to purchase a secure income bond and a growth plan which was linked to Lehman Brothers’ securities. The claimants suffered loss when both the issuer of the bond and Lehman Brothers subsequently went into administration.

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LMA Bulletin on Applicable Law and Jurisdiction Post-Brexit

The LMA, with the assistance of Cooley, has recently published a bulletin on the issues surrounding applicable law and jurisdiction post-Brexit. The bulletin, and Cooley’s briefing note on the subject, can be accessed here.

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Cooley Partner David Kendall Co-Authors Book on UK Insurance Act

Routledge has published “A Practical Guide to the Insurance Act 2015,” co-authored by David Kendall and Harry Wright of 7KBW. The book serves as a thorough introduction to the act, which is the first comprehensive statutory reform of the insurance law of the United Kingdom since the Marine Insurance Act 1906.

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Court of Appeal holds that a failure to exercise a “duty to speak” can form the basis of an estoppel

 

In Ted Baker PLC v (1) AXA Insurance UK PLC (2) Fusion Insurance Services Ltd  (3) Tokio Marine Europe Insurance Ltd [2017] EWCA Civ 4097 Ted Baker PLC (TB) suffered significant business interruption losses as a result of goods stolen by a trusted employee. TB subsequently made claims against its insurers for those losses. At first instance, TB’s claim was rejected for two main reasons: first that TB was in breach of a condition precedent, on the basis that it failed to produce certain documentation required by the policy; and second, that the nature of the thefts was such that no single loss exceeded the excess in the policy. Eder J, at first instance, stated that he had not reached these conclusions “with any great enthusiasm”.

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