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Recent comments by a UK Commercial Court judge indicate that policyholders are entitled to “spike” their entire liability for a mesothelioma claim into any one year of employers’ liability (EL) cover. Spiking potentially arises where the period of EL cover is shorter than the period of negligent exposure to asbestos. …
Read More UK: Commercial Court in London Comments on “Spiking” Mesothelioma Claims

We have previously reported on the Law Commission and Scottish Law Commission’s (the Commissions) review of insurance contract law.

The Commissions have published a further Consultation Paper (the Paper) requesting responses on the following areas of reform: …
Read More UK: Law Commission Publishes Second Consultation Paper on Post Contract Duties and Other Issues

In Starlight Shipping Co v Allianz Marine and Aviation Versicherungs AG & Ors [2011] EWHC 3381 the High Court ruled that the terms of a settlement embodied in a Tomlin Order  could be enforced by summary relief and that it was not necessary to issue fresh proceedings to do so. …
Read More UK: Court Rules on the Enforcement of Tomlin Orders and Jurisdictional Issues in an Insurance Context

In the case of Liberty Insurance Pte Ltd & ANOR v Argo Systems FZE [2011] EWCA Civ 1572 it was held that the judge at first instance had erred in concluding that Liberty (the appellant insurer) had made an unequivocal representation to Argo (the insured) that it no longer intended to rely on its legal right to be discharged from liability under a policy of marine insurance as a result of Argo’s breach of a warranty. …
Read More UK: In the Absence of Special Circumstances Silence and Inaction Cannot Constitute Unequivocal Representations

This is an update of our previous article published in the December 2011 Insurance & Reinsurance Review.

The Lloyd’s market saw considerable levels of acquisition activity in 2011. Between September and year end, among other transactions: Haverford made an offer to acquire a stake in LSE listed Omega (then, following a deterioration in Omega’s third-quarter results, announced that the offer had lapsed); a consortium led by Tawa agreed  to acquire Whittington; Ryan Specialty Group acquired Jubilee; Hardy announced that it was considering finding a buyer and had received several preliminary expressions of interest (including from Beazley); Torus agreed to acquire Broadgate; ProSight acquired TSM Agencies; and Randall & Quilter agreed to acquire Synergy Insurance Services (UK). …
Read More Lime Street M&A Roundup: Autumn Brings a Flurry of Continuing and Fresh Activity

We previously reported on the first instance decision of Re Digital Satellites Warranty Cover (see our previous blog here). Digital Satellites Warranty Cover Limited (DSWCL) and Satellite Services (SS) (the Appellants) were in the business of selling extended warranties to satellite television customers. …
Read More UK: Court of Appeal Upholds Decision That Extended Warranties are Regulated Insurance Products

On 8 December 2011, Julian Adams, Director of Insurance at the Financial Services Authority (FSA), explained in a speech to the Association of British Insurers how UK (re)insurance companies may be permitted to start their Solvency II implementation as initially scheduled on 1 January 2013 rather than on the delayed implementation date of 1 January 2014. …
Read More UK: Insurers Given Chance to Early Adopt Solvency II

In May 2011, we reported on the UK Government’s adoption of the Law Commission’s draft Bill on Consumer Insurance (Pre-Contract Disclosure and Misrepresentations). (See our previous post here). The Consumer Insurance (Disclosure and Representations) Bill (the Bill) is currently progressing through Parliament. …
Read More UK: Consumer Insurance (Disclosure and Representations) Bill Continues Its Progress Through Parliament