A - Aggregation issues
31/7/13
TEAL ASSURANCE CO LTD v WR BERKELEY INSURANCE (EUROPE) LTD [2013] UKSC 57
Considers the order in which claims under a professional liability insurance exhaust layers of insurance. A claim under the policy arose at the moment expenses were incurred by the insured or the liability was ascertained by agreement, court judgment or award. The claim then either exhausted the policy entirely or pro tanto. Although an insured could decide not to notify a claim or to waive/abandon a claim so as not to exhaust the insurance, the insured could not pursue claims but seek to adjust their priority. Priority was to be given to claims in the order the insured incurred ascertained expenses or third party liability up to the policy limit.
18/2/13
AIONI NISSAY DOWA INSURANCE COMPANY LTD v HERALDGLEN LTD [2013] EWHC 154 (Comm)
Arbitrators
had rightly determined that the hijacking of two planes and deliberate use of
them to crash into the World Trade Center amounted to two events (not one)
resulting in loss.