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The UK government has confirmed today that, as part of its so-called ‘bonfire of the quangos,’ it intends to make substantial changes to the current institutional framework for the enforcement of competition (antitrust) and consumer protection law. …
Read More UK Government Confirms Plan to Merge Competition Authorities and Reform Consumer Protection Enforcement

Following creditors’ meetings at the end of April 2010, the English High Court sanctioned the English and American Underwriting (EAUA) pools solvent scheme on 6 October 2010. By the time of the court hearing, the scheme, which consists of sixteen reinsurers, thirteen solvent and three insolvent, the scheme was unopposed. …
Read More UK: English and American Pool Scheme Sanctioned

In the recent case of Joseph Fielding Properties (Blackpool) Ltd v Aviva Insurance Ltd (2010) EWHC 2192 (QB) the High Court was asked to consider whether an insurer was entitled to avoid a policy from inception relying on previous fraudulent and exaggerated claims, and misrepresentations and non-disclosures made by the claimant (‘JFP’). …
Read More UK: Insurer Entitled to Avoid Policy From Inception Under Fraudulent Claims Clause

We previously reported the judgment of Mr Justice Hamblen in Gard Marine & Energy Ltd v LLoyd Tunnicliffe and Ors [click here for our previous blog] concerning the law applicable to a contract of reinsurance. At first instance, Hamblen J held that it was “overwhelmingly just, convenient and expedient that Gard’s claims against Advent, Glacier Re and its consequent contingent claim against AHP be determined in one jurisdiction” i.e. England. …
Read More UK: English Court of Appeal Addresses Determining Factors in the Law Applicable to a Contract of Reinsurance

In Travelers Insurance Company v Countrywide Surveyors Ltd [2010] EWHC 2455 (TCC), the High Court held that it had no jurisdiction to order pre-action disclosure where the potential dispute between the parties was subject to an arbitration agreement. …
Read More UK: English High Court Rules on Application of Pre-Action Disclosure to Potential Arbitration Disputes

The Court of Appeal has handed down its long-awaited decision in the appeal of the Employers’ Liability Insurance “Trigger” Litigation. In a long and complex judgment, which runs to more than 100 pages, the Court of Appeal has overturned the main finding of the first instance decision (the judgment of Burton J of November 2008). …
Read More UK: Court of Appeal Overturns EL Insurance Decision

In a recent case, Helmot v Simon (Guernsey Unreported Judgment, 14 September 2010), the Guernsey Court of Appeal provided a UK record for the highest personal injury compensation payment, with the claimant receiving £13.7 million in compensation for personal injuries caused by a road traffic accident. Liability was admitted by the defendant and therefore the court was only concerned with the level of compensation to be awarded to the claimant. …
Read More UK: Guernsey Sets Record Payout in Motor Claim

The Massachusetts Division of Insurance (“MDOI”) recently amended its surplus lines laws to allow for the approval of alien unauthorized insurers in the state. Previously, Massachusetts required that alien surplus lines insurers maintain a trusteed surplus in the US of $20 million and file financial information on an annual basis following US accounting principles which effectively made obtaining surplus lines eligibility in the state prohibitive for alien insurers. …
Read More Massachusetts Amends Laws to Permit Alien Surplus Lines Insurers

HM Treasury has issued a consultation paper on proposals for a special administration regime for investment banks which it hopes will lead to less disruption in financial markets and simplify the process of returning assets and money to clients and creditors of a failing bank. …
Read More UK: Proposed Special Administration Regime For Investment Banks

In the recent case of Stonebridge Underwriting Limited v Ontario Municipal Insurance Exchange [2010] EWHC 2279, Mr Justice Christopher Clarke considered whether a dispute based on a “typical London market slip policy” should be heard in London or Ontario, Canada.  The policy in question was an excess of loss policy under which Stonebridge Underwriting Limited (on behalf of the members of Syndicate 990) reinsured the Ontario Municipal Insurance Exchange (OMEX). …
Read More UK: Court Considers the Appropriate Forum for Lloyd’s Slip Policy Dispute