Insurance and Reinsurance in UK Law

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Leading Cases
  • Charter Reinsurance Company Ltd v Fagan
    • House of Lords
    • 22 Mayo 1996

    This is, however, an occasion when a first impression and a simple answer no longer seem the best, for I recognise now that the focus of the argument is too narrow. The words must be set in the landscape of the instrument as a whole.

    This result can undoubtedly be changed by express provision, but clear words would be required; and it would to my mind be strange if a term changing so fundamentally the financial structure of the relationship were to be buried in a provision such as clause 2, concerned essentially with the measure of indemnity, rather than being given a prominent position on its own.

  • Wickman Machine Tool Sales Ltd v L. Schuler A.G.
    • House of Lords
    • 04 Abril 1973

    The fact that a particular construction leads to a very unreasonable result must be a relevant consideration. The more unreasonable the result the more unlikely it is that the parties can have intended it, and if they do intend it the more necessary it is that they shall make that intention abundantly clear.

  • Hunt v Severs
    • House of Lords
    • 28 Abril 1994

    He should recover from the tortfeasor no more and no less than he has lost. The two well-established categories of receipt which are to be ignored in assessing damages are the fruits of insurance which the plaintiff himself has provided against the contingency causing his injuries (which may or may not lead to a claim by the insurer as subrogated to the rights of the plaintiff) and the fruits of the benevolence of third parties motivated by sympathy for the plaintiff's misfortune.

  • Post Office v Norwich Union Fire Insurance Society Ltd
    • Court of Appeal (Civil Division)
    • 18 Enero 1967

    Under the section it is clear to me that the injured person cannot sue the Insurance Company except in such circumstances as the insured himself could have sued the Insurance Company. The insured could only have sued for an indemnity when his liability to the third person was established and the amount of the loss ascertained. In some circumstances the insured might sue earlier for a declaration, e.g. if the insured company were repudiating the policy for some reason.

    In these circumstances I think the right to sue for these moneys does not arise until the liability is established and the amount ascertained. If there is an unascertained claim for damages in tort, it cannot be proved in the bankruptcy: nor in the liquidation of the Company. The Insurance Company can fight that action in the name of the wrongdoer. In that way liability can be established and the loss ascertained. Then the injured person can go against the Insurance Company.

    It is quiteunheard of in practice for any assured to sue his insurers in a money claim when the actual loss against which he wishes to be indemnified has not been ascertained, I have never heard of such an action and there is nothing in law that makes such an action possible.

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Books & Journal Articles
  • The Construction of Terms of Facultative Reinsurance Contracts: is Wasa v Lexington the Exception or the Rule?
    • No. 73-1, January 2010
    • The Modern Law Review
    Do reinsurers insure the liability faced by the reinsured under its original insurance contract? Where the reinsurance and direct insurance policies are written in identical terms, is it enough for...
    ... ... v Lex ingto n the Exception or the Rule? zlem Gˇrses n Do reinsurers insure the liability faced by the reinsured under its original insurance contract? Where the reinsurance and direct insurance policies are written in identical terms, is it enough for the reinsured to proveits l iability ... ...
  • Managing Risk as a Duality of Harm and Benefit: A Study of Organizational Risk Objects in the Global Insurance Industry
    • No. 32-1, January 2021
    • British Journal of Management
    This study examines how organizations construct and manage risk objects as a duality of harm–benefit within their normal operations. It moves beyond the existing focus on accidents, disasters and c...
    ... ... navigate the tension of retaining risk in their insurance portfolio to increasethe benefit of making profit and transferring risk to reinsurance to reduce the harm of paying claims. We showthat organizations’ constructions of risk are underpinned by everydayrisk man- agement practices of ... ...
  • Mazars.
    • No. 2003, December 2003
    • Financial Management (UK)
    • Grewer, Claire
    • On the move - Brief Article
    ... ... Jones has worked as an insurance tax specialist for a number of years. He specialises in corporate tax for ... international businesses in the broking, general insurance, reinsurance and captive insurance market ... ...
  • Risk, insurance and small farm credit in developing countries: A policy proposal
    • No. 6-3, July 1986
    • Public Administration and Development
    Lending to small farmers is often too risky for commercial banks; consequently extremely high interest rates have to be paid. Agricultural development banks go some way towards solving the problem....
    ... ... The practical problems of implementation are considered and deemed surmountable by reinsurance and graduated premiums. THE PROBLEM It is a truth universally acknowledged that credit markets in underdeveloped rural areas ... ...
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Law Firm Commentaries
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  • Order for distribution of a Lloyd's Estate
    • HM Courts & Tribunals Service court and tribunal forms
    Chancery forms, including claim forms and applications for orders.
    ... ... any retention or further provision in respect of any contract of insurance or reinsurance underwritten by the Deceased in the course of his business ... ...
  • sheet
    • HM Courts & Tribunals Service court and tribunal forms
    Commercial Court forms including claims and application notices.
    ... ...  agreements ...  insurance and/or reinsurance ...  oil and gas and other natural resources ... ...
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