The Claimant was a firm of solicitors who had acted for the lending bank in two mortgage transactions. The sums advanced were never used to purchase the intended properties. On the first transaction the sum was to be borrowed by a partner of a law firm and the firm had acted on his behalf. In the second transaction it was that partner’s wife who had sought to borrow the monies to purchase another property from the partner. The Claimant was pursued by the lending bank and settled the claim agains ...
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The Court of Appeal overturned a decision concerning the issue of proximate cause of loss. The first instance decision supported the insurer’s argument that the proximate cause of the loss of the legs of an oil rig while being towed from Texas to Malaysia was “inherent vice” and thus excluded from the “all risks” cover. The claimant insured argued that the loss was accidental and not inevitable and should be covered under the policy, and that the proximate cause was inadequate repairs carried ou ...
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Provisional liquidators of a mutual insurance company were permitted to deploy some of the company’s funds to purchase retrospective insurance cover for the period during which some of its participating members had not been permitted to subscribe to the company as local authorities.
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A compromise agreement between insurers and run-off agents following a dispute as to the conduct of the run-off excluded any claims in respect of fraud and provided for the exclusive jurisdiction of the English courts. Claims relating to breach of contractual and fiduciary obligations if amounting to fraud were to be brought in the English courts. Fraud was not to be limited to the common law action of deceit and extended to at least some cases of dishonest abuse of fiduciary position.
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This was an appeal on costs that arose from a fraud practised on Axa Insurance by a number of persons who insured genuine cars against third party fire and theft. An initial instalment premium was paid and a direct debit system set up but soon after the inception of the insurance, the fraudsters claimed that the car had been involved in an accident for which the owner was to blame. There was therefore an innocent (but usually fictitious) victim who had a claim which was bound to succeed against ...
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The insurer provided content insurance for the claimant's wholesale distribution warehouse. The contents insured were cigarettes, tobacco and alcohol. Endorsement 6 of the insurance policy stated that theft cover in respect of the stock of cigarettes and tobacco was not operative outside of business hours unless the stock was kept within the special secure store on the ground floor. However, a significant amount of the claimant's insured goods were stored on the mezzanine floor and therefore und ...
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On 28 October 1999 the claimants, Mr and Mrs Dhami, took out a building and contents insurance policy relating to their home with the defendant. The insurance policy was renewed each year and on renewal questions asked included whether anyone normally living with them had ever been convicted of any criminal offence other than a motoring offence. Mr and Mrs Dhami answered in the negative. On 15 March 2004, the property was damaged by fire to the garage and a claim was made. At the time of the fir ...
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Although actuarial models were complex, expensive, imperfect they were capable of permitting the Court to draw conclusions with confidence and to the appropriate standard of proof of the recoverable losses for each syndicate. The effect of Hill v Mercantile & General Reinsurance Co Plc did not require the court to conclude that a Claimant could not succeed unless it could present correctly aggregated losses upwards through the London Market Excess of Loss spiral.
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A cause of action relating to insurance policies issued without proper vetting was not a case of contingent liability. There was measurable relevant loss additional to the incurring of purely contingent liabilities under the policies of insurance on the inception of the policies in that any valuation of the policies at that time would have to take into account the assumed fact that there had been no proper vetting. Loss was suffered as soon as the insurance was issued.
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Following multiple claims made against a two partner law firm alleging monies had been paid out of the client account in respect of property transactions that had not completed, the firm’s professional indemnity insurers applied to inspect all documents now held by the Law Society after its intervention in the firm. The application was refused. An insurer of solicitors was not by provision of such professional indemnity insurance elevated to the same position of the Law Society in its entitlemen ...
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