High Court rules on the application of suspensive warranty provisions in insurance contracts

 

In Bluebon Limited (in liquidation) v (1) Ageas (UK) Limited (formerly Fortis Insurance Limited) (2) Aviva Insurance Limited (3) Towergate Underwriting Group Limited [2017] EWHC 3301 (Comm), Mr Justice Bryan held that an electrical installation inspection warranty was a suspensive condition of the insurance policy, which covered various risks, including fire, and that any breach of such warranty would result in cover being suspended from the inception of the policy.

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High Court rules on reimbursement of defence costs under ICAEW Minimum Terms

In Michael Jonathan Christopher Oldham v QBE Insurance (Europe) Limited [2017] EWHC 3045 (Comm) Mr Justice Popplewell held that under a policy governed by the ICAEW Minimum Terms (the minimum professional liability coverage requirements mandated by the Institute of the Chartered Accountants of England and Wales), where it is determined that a claim is not covered by the policy, an assured must reimburse the defence costs that have been advanced by its insurer.

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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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