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In Gater Assets Ltd v Nak Naftogaz Ukrainiy [2008] EWHC 237 (Comm), the applicant company, Nak Naftogaz Ukrainiy (NNU), applied to set aside an order permitting Gater Assets Ltd (Gater) to enforce as a judgment a New York Convention arbitration award issued by the International Commercial Arbitration Court of Moscow. 

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Read More UK High Court Dismisses Application to Set Aside Order in Favour of Monegasque Reinsurer Enforcing New York Convention Arbitration Award

As reported here – CEIOPS Meeting Discusses Draft Advice to European Commission on Key Solvency II Issues], the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has now released it’s Consultation Papers of Draft Advice on Aspects of the Framework Directive Proposal related to Proportionality and on Insurance Groups. …
Read More EU: CEIOPS Releases Two Solvency II Consultation Papers

HM Treasury is expected to publish a consultation paper shortly (in the next few weeks) on updating Lloyd’s corporate governance procedures and other matters concerning the efficient operation of Lloyd’s. The consultation period will last 3 months. …
Read More UK: Forthcoming Consultation on Lloyd’s Act Amendments Expected to Allow Third Term for Chairman of Lloyd’s, Lord Levene

The case of Standard Life Assurance v Oak Dedicated Ltd & Ors [2008] EWHC 222 concerned an action brought by the insured against its underwriters, who had subscribed to a policy which provided the insured with liability cover of £75million in excess of £25million. The insured claimed an indemnity under the policy, which contained a provision permitting the aggregation of claims arising from one originating cause or source. 

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Read More English High Court Considers Aggregation Clauses

The FSA’s TCF initiative is a core part of its move to more principle based regulation. It is intended to compel firms to review their treatment of customers and to change their behaviour to deliver improved outcomes for consumers so they believe they are being treated fairly no matter which firm they are dealing with. The aim is for TCF to be embedded within the culture of all firms. 

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Read More UK: FSA Announces More Help for Small Firms on Treating Customers Fairly (TCF)

The recent decision in the staged trial of the conjoined actions of Standard Life Assurance Ltd v Oak Dedicated and others and Standard Life Assurance Ltd v (1) Aon Limited (formerly known as Aon Group Limited) (2) Reynolds Porter Chamberlain [2008] EWHC 222 (Comm) has endorsed previous authorities concerning the scope of brokers’ duties. 

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Read More The English High Court has Re-Addressed the Topic of Brokers’ Duties

In the case of Kylie Palmer v Estate of Kevin Palmer (deceased) and others [2008] EWCA Civ 46, the Court of Appeal has refused to overturn a decision forcing Royal Sun Alliance (RSA) to pay the opposing parties’ costs personally. The claim arose after a six year old girl was severely injured in an automobile accident. 

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Read More The English Court of Appeal has Forced an Insurer to Pay the Opposing Parties’ Costs Personally

The Scottish Government has published a consultation paper on its proposal to introduce legislation before the summer recess in order to overturn the House of Lords’ 17 October 2007 decision (Rothwell v Chemical Insulating Company Ltd [2007] UKHL 39) that asymptomatic pleural plaques are not compensable (click here …
Read More The Scottish Government has Published a Consultation on the Impact of Reversing the House of Lord’s Pleural Plaques Judgment