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In LIDL v Just Fitness Ltd [2010] EWHC 39 (Ch) the Court was asked to decide whether an arbitrator had jurisdiction to determine a particular issue in a dispute, which was alleged to have been addressed in a previous arbitration. …
Read More UK: High Court Rules That any Issue Covered by a Tribunal’s Terms of Reference Cannot be Adjudicated in a Subsequent Arbitration

On Tuesday 2 February 2010, the Financial Services Authority (FSA) went to the Court of Appeal to seek clarification regarding its obligation to co-operate with the Securities and Exchange Commission (SEC). This comes as a result of a High Court judgment last year in favour of two companies which said that the FSA had overstepped its powers by carrying out a request from the SEC to recover certain documents. 

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Read More UK: Financial Services Authority Seeks Clarification on Co-Operation with Overseas Regulators

Habas Sinai Ve Tibbi Gazlar Isthisal Endustri As (“Habas”) v Sometal S.A.L. [2010] EWHC 29 (Comm) concerned an application to set aside an interim final award on jurisdiction and costs made by an arbitral tribunal by which the tribunal accepted jurisdiction to entertain a claim made by Sometal S.A.L. for breach of contract. …
Read More UK: Incorporation of Arbitration Clauses by General Words

In Global Process Systems Inc & Anor v Syarikat Takaful Malaysia Berhad [2009] EWCA Civ 1398, the Court of Appeal overturned the first instance judgment of the Commercial Court (previously reported here), and found that the cause of the loss was not ‘inherent vice’ (a risk excluded under the claimant insured’s ‘all risks’ policy) but ‘perils of the sea’, a covered risk. …
Read More UK: Court of Appeal Overturns Recent Judgment on ‘Inherent Vice’

The UK’s Asbestos Working Party (AWP) has published its revised projection of the cost to employers’ liability insurers of the UK’s asbestos liability problem. The AWP has modelled “alternative scenarios” that suggest the cost of future claims will be between about £5 billion and over £20 billion for the period 2009 to 2050. …
Read More UK: Revised Estimate Says Asbestos-related Liability will Cost UK Insurers Over £11bn by 2050

On the 20th anniversary of the Confederation of British Industry and PricewaterhouseCoopers Financial Services Survey, twenty leading figures from across the financial services industry have given their views in a report entitled “20/20 Vision – The Future of Financial Services” (the Report). 

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Read More UK: Confederation of British Industry and PricewaterhouseCoopers Publish Report on the Future of the Financial Services Industry

In our January 2010 Client Advisory (see the Client Advisory here) we wrote that, pending the outcome of a recent Ministry of Justice consultation, the Information Commissioner’s Office (the ICO) may be given increased statutory powers to impose fines. In a press release on 12 January 2010, the ICO confirmed this power is expected to come into force on 6 April 2010. 

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Read More UK: Data Breaches to Incur up to £500,000 Penalty

On 25 January 2010, Mark Hoban MP, Shadow Treasury Minister, spoke at a British Insurance Law Association seminar hosted at Lloyd’s and attended by a number of EAPD lawyers. Mr Hoban spoke on the Conservative Party White Paper, published on 20 July 2009, entitled “From Crisis to Confidence: Plan for Sound Banking” with a particular focus on the White Paper’s relevance to the insurance sector. 

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Read More UK: Shadow Treasury Minister Speaks on Conservative White Paper