August 2008

Charles Russell LLP's Guide to Time Bar 

What law applies, when does the limitation period commence and how may it be suspended?

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ACE Capital Limited v CMS Energy Corporation 

Commercial Court - Mr Justice Christopher Clarke - 30 July 2008

The English High Court has considered the inter-relationship between a US Service of Suit clause and an English Arbitration clause in the context of a policy of insurance. The decision is important in that it found the existence of the US Service of Suit clause in the policy did not override the contractural obligation of the parties to arbitrate in all disputes. 

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InSure - August 2008

This month's edition looks at the report identifying regulatory failure in the supervsion of Equitable Life, the inclusion of EEA branches of UK insurers into the scope of FSCS, the FSA TFC update......

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Reinsurance E-Alert

When there is Insurance but no Insurer: the undoing of Whiteley Insurance Consultants

Re Whiteley Insurance Consultants (also known as Kingfisher Travel Insurance Services (a firm)) [2008] All ER

In a recent decision the Chancery Division had to consider for the first time the effect of sections 20, 26 and 28 of the Financial services and Markets Act 2000 (FSMA). Those provisions regulate agreements entered into in breach of the FSMA, and provide a statutory remedy to the innocent contracting party as against the party in default, in this case Whiteley Insurance Consultants (WIC). The decision also illustrates how the Financial Services Authority (FSA) readily takes drastic action against insurance professionals who are in serious breach of the rules.

London Market newsletter July 2008 

This edition includes a brief update on:

• The current state of the EL trigger litigation;
• The case of Allianz v Aigaion regarding the non-receipt of premium and s.53 of the Marine Insurance Act 1906;
• The recent decision in Mopani v Millennium Underwriting regarding the scope of a Construction / Erection All Risks reinsurance policy;
• Lexington v Multinacional De Sequros S.A. as to possible waiver by reinsurers of the right to rely on a claims co-operation clause;
• Guest article from New York Law firm Wollmuth Mayer & Deutsch LLP.

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Reinsurance and International Risk team (RIRt) Notes Summer 2008

• The sub prime crisis: an update and issues to consider;
• Suing the rating agencies;
• Waiver of breach of condition precedent - a victory for reinsurers;
• BLG named 'Best Law Firm' at 2008 Reactions London Market Awards;
• Latest developments in legacy;
• The launch of AIDA Europe;
• The lion roars: Singapore zooms ahead as insurance hub.

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