The FCA’s extended period for responses to Consultation Paper 24/2: Our Enforcement Guide and publicising enforcement investigations – a new approach (CP24/2) ended yesterday. We have previously posted a summary of the key areas covered by CP24/2, and an overview of our thoughts on whether the FCA’s proposals can achieve their objectives.
Alongside
Latest from Insurance Notes
Court finds breach of condition precedent relating to pre-contract misrepresentation unenforceable under Insurance Act 2015
In Scotbeef Ltd v D&S Storage Ltd (In Liquidation) [2024] EWHC 341 (TCC), the court considered the interpretation of various clauses purporting to be conditions precedent to liability in light of the Insurance Act 2015 (the IA 2015). The judgment is one of only a handful of cases to have considered the application of
M&A trends in the UK insurance sector
Grant Murtagh and fellow HSF partner, Dylan Doran Kennett, discuss five trends affecting M&A activity in the UK’s insurance sector.
Some of those trends are at the level of individual insurers (for example, changes in strategy), some are relevant to large parts of the sector (for example, broker consolidations and venture capital), while others are
Insurance & Professional Risks Annual Review 2023 published
We are pleased to share with you our Insurance & Professional Risks Annual Review of 2023 which provides an overview and analysis of the key cases and developments affecting those engaged in or with contentious matters in the insurance and reinsurance market.
Please click the image below to access our 2023 Annual Review.
Court of Appeal say no change in approach to aggregation in Covid-19 BI cases
The Court of Appeal dismissed both the policyholder’s and insurers’ appeals in Various Eateries Trading Limited v Allianz [2024] EWCA Civ 10 in one of the latest of the Covid-19 business interruption decisions coming from the courts.
The principal issue on appeal concerned the effect of the aggregation wording in the policy which provided for
Court of Appeal overturns first instance judgment which held a contractual provision prohibiting assignment could prevent insurer’s subrogation rights
In Dassault Aviation SA v Mitsui Sumitomo Insurance Co Ltd [2024] EWCA Civ 5, the Court of Appeal has overturned a first instance judgment and found that a contractual prohibition on assignment in a sale contract did not prevent the transfer of subrogation rights to an insurer where that transfer arose by operation of law.
Climate Disputes: Managing climate change risk – the role of insurance
It is clear from our climate disputes series that the risks and reverberations of climate change are far-reaching, impacting as widely as shareholder claims, parent company and supply chain risk, disclosure investigations and greenwashing. Such impacts raise the inevitable question of how companies’ trusted tools to address and mitigate risk can handle such a systemic
UK insurance regulation: looking ahead to 2024
Our latest annual assessment of the UK insurance regulatory landscape reflects the huge amount of regulatory change that has occurred over the last 12 months and that is set to continue in 2024.
Milestones reached in 2023 included the first deadline for implementing the FCA’s new Consumer Duty and the passing of the Financial Services
High Court provides a reminder of the key principles relevant to broker negligence claims
In Infinity Reliance Limited v Heath Crawford Limited [2023] EWHC 3022 (Comm), the High Court provides a reminder of the key duties of insurance brokers and summarises the elements that must be proven in a broker negligence claim. The judgment also provides a useful example of how a claim of contributory negligence may operate to
Court of Appeal applies Wayne Tank principle: if there are two concurrent causes of loss and one is excluded, then no cover
The Court of Appeal has dismissed an appeal by the University of Exeter (the insured) against a High Court ruling in March 2023 regarding a denied insurance claim for damage caused by the detonation of a WW2 bomb: The University of Exeter v Allianz Insurance PLC [2023] EWCA Civ 1484.
The Court of Appeal agreed with the