LLR: Insurance & Reinsurance

John Lockey KC and Professor Robert Merkin KC

Document

WASA INTERNATIONAL INSURANCE CO LTD v LEXINGTON INSURANCE CO AGF INSURANCE LTD v LEXINGTON INSURANCE CO

[2007] Lloyd's Rep IR 604

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Simon

Reinsurance - Reinsured providing property cover for three-year period to assured - Proportional reinsurance written as original and follow the settlements, but covering property damage occurring during currency of the reinsurance - US court holding reinsured liable for property damage dating back 50 years before inception of cover - Reinsured settling - Whether reinsurers bound by settlement - Whether deductible clause in reinsurance applied per occurrence - Whether reinsurers liable for defence costs.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, click Log In button.