Post on 10 Mar 2015
In recent years, cyber hacks on large corporates and even governments have become an almost daily occurrence. Despite this, a significant number of UK businesses are failing to adequately protect themselves from such attacks and face potentially significant losses as a result. According to new...
Insurance
Post on 3 Mar 2015
For manufacturers of products, or components which will end up in products, such as toys, food and drink, electrical appliances, motor vehicles, cosmetics and others, the risk of a product recall with the associated costs and potential damage to that company's brand and reputation is very real....
Insurance
Post on 19 Feb 2015
Arbitration was traditionally favoured over litigation to resolve coverage disputes, but some recent cases have cast doubt on whether this is always the best method to follow. Insurers, reinsurers and policyholders have traditionally favoured arbitration over litigation when it comes to determining...
Insurance
Post on 16 Feb 2015
The Insurance Act received Royal Assent on 12th February and will come in to force in August 2016 following an 18 month transition period. The new Act brings about fundamental reform of the law governing commercial insurance in England and Wales, replacing the 109-year-old Marine Insurance Act 1906...
Insurance
Finance and Investment
Post on 7 Jan 2015
The recent decision of the High Court in Ted Baker Plc v Axa Insurance UK Plc considered the implications for policyholders of failing to comply with an information request by insurers.  Background Between 2003 and 2008 an employee at one of Ted Baker's warehouses in North London repeatedly stole...
Finance and Investment
Insurance
Post on 5 Jan 2015
It is clear that an insured who makes a fraudulent claim – being one which is either entirely false or has been intentionally exaggerated – will forfeit its right to that claim (including any genuine part thereof in respect of an exaggerated claim). The recent Court of Appeal decision in Versloot...
Finance and Investment
Insurance
Post on 2 Jan 2015
The Law Commission has produced a revised draft Clause 11 dealing with breach of terms of an insurance contract which are irrelevant to the loss that is claimed for. The original draft of Clause 11 was omitted from the Insurance Bill, which was introduced to Parliament in July 2014, due to concerns...
Finance and Investment
Insurance
Post on 17 Dec 2014
The British Insurance Brokers' Association (Biba) and the Association of Insurance and Risk Managers in Industry and Commerce (Airmic) have given evidence before a House of Lords special public bill committee considering the Insurance Bill.  The special committee held its final meeting on 15...
Finance and Investment
Insurance
Post on 23 Oct 2014
The decision in Eurokey In the recent case of Eurokey Recycling Ltd v Giles Insurance Brokers Ltd, Mr Justice Blair considered a broker's duty to advise its clients in relation to the level of business interruption insurance it required.  Eurokey Recycling Limited (Eurokey), a waste recycling...
Finance and Investment
Insurance
Post on 22 Oct 2014
One of the most interesting judgments of the year was in R (on the application of Bluefin Insurance Services) v Financial Ombudsman Service, in which the High Court ruled against the Financial Ombudsman Service (FOS) for deciding it had jurisdiction to rule on a commercial claim brought against...
Finance and Investment
Insurance

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