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In the case of Standard Life Assurance Ltd v ACE European Ltd & 10 ORS [2012] EWHC 104 (Comm), Mr Justice Eder held that Standard Life Assurance Limited (SLAL) was entitled to recover under its professional indemnity insurance policies (the Policies) from the defendant insurers (the Insurers) in respect of remediation payments made following a significant fall in value of the Standard Life Pension Sterling Fund (the Fund). …
Read More UK: Insured Entitled to Recover “Mitigation Costs” From Professional Indemnity Insurers

The Supreme Court’s decision in the Employers’ Liability (EL) Insurance “Trigger” Litigation is expected imminently. It is not just insurers who eagerly await that decision. …
Read More Employers’ Liability Insurance “Trigger” Litigation – Supreme Court decision expected imminently

In Sulamerica CIA Nacional de Seguros SA & Ors v Enesa Engenharia SA & Ors [2012] EWHC 42 (Comm), Mr Justice Cooke held that an anti-suit injunction restraining the defendant insureds from pursuing proceedings in Brazil in breach of an arbitration clause would be continued. …
Read More UK: Arbitration: English High Court Upholds Anti-Suit Injunction in Favour of Arbitration Proceedings

On 6 February 2012, Hector Sants, CEO of the UK Financial Services Authority (FSA) explained in a speech to the British Bankers’ Association that on 2 April 2012 the FSA will be split into the Prudential Group (shadowing the future Prudential Regulation Authority) and the Conduct Group (shadowing the future Financial Conduct Authority). …
Read More UK: FSA Details Planned “Shadow Split”

In Anthony Nathaniel Bennett v. Leonard John Stephens and Zenith Insurance Company [2012] EWHC 1 (QB), the Court was asked to consider the effect of a consent order (the Consent Order) between the parties and the reinsurer of Zenith, Faraday Underwriting Ltd (Faraday). …
Read More UK: Motor Insurers’ Bureau Cannot Guarantee Future Unsatisfied Payments of Road Traffic Accident Damages

In the case of (1) Sealion Shipping Limited (2) Toisa Horizon Inc v Valiant Insurance Co [2012] EWHC 50 (Comm), Mr Justice Blair held that a marine insurer could not avoid liability for machinery breakdown under a loss of hire policy. …
Read More UK: Court Rules on the Materiality of Non-Disclosures, and the Meaning of “Want of Due Diligence” in a Marine Policy

In Mary Harvey v. Motor Insurers’ Bureau (QBD (Merc) (Manchester), Claim No: 0MA40077, 21 December 2011), the High Court held that it was not appropriate to grant leave to appeal an arbitrator’s decision that the victim of a road traffic accident was not entitled to compensation for personal injury under s.69 the Arbitration Act 1996 (the Act) (s.69 of the Act only allows appeals to be made where the arbitrator has made some error of law). …
Read More UK: High Court Confirms That Bringing Appeals of Fact Disguised as Appeals of Law Under s.69 of the Arbitration Act 1996 Will Not be Entertained