June 2007
The International Reinsurance Industry Dispute Resolution Protocol
Lloyd's of London has endorsed a new Internationl Reinsurance Industry Dispute Resolution Protocol created by the International Institute for Conflict Prevention & Resolution based in New York.
The Reinsurance Protocol is designed to encourage the early resolution of reinsurance disputes through the exchange of information, dialogue between the parties and, if necessary, formal mediation with a view to reducing unnecessary legal costs.
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June 2007
Narrower scope of cover
Potential for creating narrower scope of cover under reinsurance contracts expressed to be "back to back" with original - WASA INTERNATIONAL INSURANCE COMPANY LIMITED v LEXINGTON INSURANCE COMPANY and AGF INSURANCE LIMITED v LEXINGTON INSURANCE COMPANY, Commercial Court, 25 April 2007.
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June 2007
Liability of reinsurers
Liability of reinsurers under premises section of an insurance contract for losses deriving from individual frauds - DORNOCH LTD AND OTHERS v THE MAURITIUS UNION ASSURANCE CO LIMITED AND THE MAURITIUS COMMERCIAL BANK, Queens Bench Division, 6 February 2007.
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June 2007
Is the price of fraud high?
In the case of Churchill Car Insurance v Victor Kelly, Gibbs J allowed compensation for proven and admitted negligence, notwithstanding the fact that the claimant had dishonestly put forward unjustified heads of loss.
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June 2007
Is staff time recoverable?
Details of damages being claimed often resemble the claimant's wish list. However, recent caselaw is turning to make one wish come true. As many claimants often expend hours of staff time trying to remedy the effect of a tort, the suggestion that this could be recoverable will prompt claimants everywhere to add such claims to their list.
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June 2007
Intermediaries - where does the blame lie?
With brokers' duties under even more scrutiny than usual due to the Law Commission's third issue paper dealing with Insurance Intermediaries and Pre-Contract Information, the recent case of Fisk v Brian Thornhill & Son is a timely reminder to both placing and producing brokers of their pre-contractural duties to insureds.
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June 2007
Arbitration and the Right to a Fair Trial
Article 6 of the European Convention on Human Rights ( ECHR) provides an entitlement " to a fair and public hearing within a reasonable time by an independent and impartial tribunal established by law." The issue of whether an agreement to arbitrate violates this right has been considered recently by the Court of Appeal in two cases:
Stretford v FA Ltd and another (2007 EWCA Civ 238)
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