We are pleased to share with you our Insurance & Professional Risks Annual Review of 2022 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 2022 Annual Review.
Key Contacts:
In Al Mana Lifestyle Trading LLC & Ors v United Fidelity Insurance Company PSC & Ors [2023] EWCA Civ 61 the Court of Appeal considered the jurisdiction of the English court to hear claims brought by the Claimant policyholders against their insurers for indemnities for business interruption losses (BI) arising from the Covid-19 pandemic. In doing
In Brian Leighton (Garages) Limited v Allianz Insurance Plc [2023] EWHC 1150 Civ 8 the Court of Appeal construed the wording of a pollution exclusion and determined that it applied narrowly and only where pollution (or contamination) was the proximate cause of the damage.
The case concerned a fuel leak which contaminated the insured property.
In Dassault Aviation SA v Mitsui Sumitomo Insurance Co Ltd [2022] EWHC 3287 (Comm) the court considered whether a contractual prohibition on assignment of a contract encompassed a transfer of subrogation rights to an insurer by operation of Japanese insurance law. The judge reached her conclusions with “an unusual degree of hesitation” and noted that
2022 proved to be as busy for insurance firms and regulators as we predicted last January. Yet more change can be expected in 2023.
In Brexit-related news, the Treasury is taking forward plans to change the UK’s Solvency II regime. Its announcement coincided with the Autumn statement, signifying the importance attributed to Solvency II
The FCA has set out its plans to operate a new gateway for the approval of financial promotions (CP22/27).
Who could be affected?
Firms which approve financial promotions for unauthorised firms should review and consider these proposals carefully.
Unauthorised firms which currently rely on authorised firms to approve their financial promotions should also
A version of this article was first published on Thomson Reuters Regulatory Intelligence.
The Treasury’s plans to reform Solvency II have entered their next phase after it published the results of its April 2022 consultation. This coincided with its Autumn statement, signifying the importance attributed to Solvency II reforms within the Government’s wider
The Bank of England’s (BoE) first Climate Biennial Exploratory Scenario 2021 (CBES) explored climate change driven financial risks posed to the largest insurers and banks operating in the UK.
This article focuses on the CBES’s findings in respect of the physical risks (ie risks related to physical damage resulting from climate change) and transition risks
Grant Murtagh has recently begun writing a regular column for Practical Law in which he shares his thoughts on topical insurance issues. In his first issue, Grant discusses:
Business interruption (BI) losses in the context of the Covid-19 pandemic have been considered in three recent judgments of Butcher J: