The issue in Michael Wilson Partners Ltd v John Forster Emmott [2008] EWCA Civ 184 was whether Mr Justice Flaux, at first instance, had acted correctly in authorising the disclosure, for the purposes of proceedings in New South Wales and the British Virgin Islands, of documents generated in an English arbitration. …
Read More The English Court of Appeal considers the confidentiality of documents disclosed in an arbitration

Fitch Ratings has updated its ratings criteria for catastrophe bonds, that is to say structured financings where payments to investors are exposed to the risk of catastrophic events such as earthquakes, hurricanes and fires. 

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Read More Fitch Ratings updates its ratings criteria for Catastrophe Bonds

On 12 March, the UK Chancellor of the Exchequer, Alistair Darling, delivered the Government’s 2008 Budget Report, which acknowledged the susceptibility of the UK economy to the unfolding financial credit crisis. The Report noted that the world economy was facing a more challenging environment than was apparent in 2007, with continued disruption in global financial markets, which had caused the downgrading of the UK economy growth forecast for 2009 from 2.5 – 3% to 2.25 – 2.75%. …
Read More UK 2008 Budget Report

The Missouri Court of Appeals recently affirmed an $8 million punitive damages award against an insurer in a breach of contract, malicious prosecution, and punitive damages action arising from a denied automobile insurance claim valued at $10,300. 

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Read More Missouri Court of Appeals Upholds $8 Million Punitive Damages Award Against Insurer In Case Arising From $10,300 Auto Claim

The Claimant in Kosmar Villa Holidays plc v Trustees of Syndicate 1243 [2008] EWCA Civ 147 was a tour operator who had a public liability policy with the Defendant’s predecessor, Euclidian Direct Limited (Euclidian). …
Read More English Court of Appeal Considers the Effect of a Notice Clause in a Public Liability Policy

A Massachusetts trial court recently held that an insurer must pay the attorneys’ fees incurred by its insured in the successful defense of a duty to defend declaratory coverage action brought by the insurer. …
Read More Gamache Exception Extended: Massachusetts Trial Court Orders Insurer To Pay Insured’s Attorneys’ Fees In Unsuccessful Duty to Defend Declaratory Judgment Action

On November 16, 2006, Financial Security Assurance Holdings Ltd. (“FSAH”) received subpoenas from the Securities and Exchange Commission and the Antitrust Division of the U.S. Department of Justice issued in connection with ongoing civil and criminal investigations of brokers, financial institutions and bond insurers suspected of bid rigging awards of municipal guaranteed investment contracts (“GICs”). 

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Read More Wells Notice Received by Bond Insurer in Municipal Guaranteed Investment Contracts Antitrust Investigation

A federal district court recently held that an ambiguity in a reinsurance contract’s arbitration provision regarding the structure of the arbitration and selection of arbitrators was for the arbitrators, not the court, to decide. 

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Read More Court Refers Ambiguity Over Structure of Arbitration and Selection of Arbitrators to the Panel

Mark Meyer, a partner in the London office of Edwards Angell Palmer & Dodge, attended the recent seminar hosted by Lloyd’s in Tel Aviv, Israel, to mark 60 years of trading with the country. …
Read More Lloyd’s Hosts Anniversary Seminar in Tel Aviv