With Republicans taking control of the U.S. Senate and increasing its majority in the House of Representatives on Tuesday, Congress will see significant changes next year.
Read More Early Thoughts About Insurance Matters After The 2014 US Elections
Jurisdictions
UK: Scottish appeal court upholds judge’s decision to permit a time-barred claim to proceed
In Betty Sophia Smith Ferguson and others v J & A Lawson (Joiners) Limited [2014] CSIH 82, Lady Paton of the Court of Session Inner House dismissed an appeal from the defendants, who argued that the Lord Ordinary had erred in law at first instance.
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UK: Court of Appeal considers application of the doctrine of “fraudulent devices
In Versloot Dredging BV v HDI Gerling Industrie Versicherung AG (The DC Merwestone) ([2014] EWCA Civ 1349) the appellant shipowners appealed a decision made on the basis of the fraudulent devices principle discussed obiter in the case of Agapitos v Agnew (The Aegeon) (No.1) ([2002] EWCA Civ 247) that they could not recover losses from the respondent hull and machinery underwriters. The Court of Appeal chose to apply The Aegeon and dismissed the appeal.
Read More UK: Court of Appeal considers application of the doctrine of “fraudulent devices
UK: Commercial Court Awards Declaratory Relief and Specific Performance Order to Insurers
Following the Supreme Court’s determination as to jurisdiction and the Court of Appeal’s ruling on the substantive issues, the case of Starlight Shipping v Allianz Marine ([2014] EWHC 3068 (Comm)) returned to the Commercial Court for two further issues to be decided.
Read More UK: Commercial Court Awards Declaratory Relief and Specific Performance Order to Insurers
UK: CMA publishes final report in car insurance market investigation
On September 24 2014, The Competition and Markets Authority (CMA) published the final report in its investigation into the private motor insurance market. The report covers the measures the CMA anticipates taking to increase competition in the car insurance market and reduce the cost of premiums. …
Read More UK: CMA publishes final report in car insurance market investigation
Massachusetts Federal Court Rules Limits Equitable Contribution Between Insurers
Recently, a Massachusetts federal court issued an opinion limiting the ability of one insurer to seek reimbursement from another insurer under the doctrine of equitable contribution. In the insurance context, equitable contribution allows an insurer to seek contribution from a co-insurer after the insurer pays more than its proportionate share of a loss on a claim that both insurers are obligated to indemnify or defend. …
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U.S. House Approves Amendments to Dodd-Frank Capital Requirements
On Tuesday, September 16, 2014, the U.S. House of Representatives passed H.R. 5461 by a vote of 327-97 (the “Bill”). Most significant to the insurance industry is Title I of the Bill, which clarifies the application of certain leverage and risk-based requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). …
Read More U.S. House Approves Amendments to Dodd-Frank Capital Requirements
UK: Principal’s Remedies for Secret Commission
In its judgment delivered on 16 July 2014, the Supreme Court decided in FHR European Ventures v Cedar Capital [2104] UKSC 45 that a bribe or secret commission accepted by an agent is held on trust for his principal, rather than the principal merely having a claim for equitable compensation equal to the value of the bribe, thereby upholding the Court of Appeal decision which we blogged on 4 February 2013 (see here). …
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UK: Court of Appeal upholds summary judgment order awarding damages for breach of settlement agreements
In the case of Starlight Shipping v Allianz Marine ([2014] EWCA Civ 1010), the appellant shipowners appealed a decision granting summary judgment to the Respondent Insurers for damages and declaratory relief.
Read More UK: Court of Appeal upholds summary judgment order awarding damages for breach of settlement agreements
Massachusetts Appeals Court Declares That Failure To Follow Contract Conditions Is Not An “Occurrence” Under Landscaper’s General Liability Insurance Policy
On July 24, 2014, the Massachusetts Appeals Court issued an opinion arising out of a subcontractor’s clear-cutting of environmentally-sensitive property in Western Massachusetts. The decision in Pacific Indemnity Company v. Lampro, et al., 86 Mass. App. Ct. 60 (2014), is notable because the court declared, as a matter of law, that the subcontractor’s erroneous actions were not a fortuitous event for which liability insurance was designed but, rather, a normal, foreseeable, and expected incident of doing business. …
Read More Massachusetts Appeals Court Declares That Failure To Follow Contract Conditions Is Not An “Occurrence” Under Landscaper’s General Liability Insurance Policy