The FCA’s latest market study (MS18/1.2), on general insurance pricing practices, continues its focus on general insurance markets. Building on an earlier thematic review on home insurance, the FCA has looked in particular at how firms adapt the margins they aim to earn according to the likely behaviour of individual customers. Read more
The outcome of the June 2016 UK referendum on EU membership ushered in a period of increasing political turmoil in the UK. When I wrote an introduction to the first edition of this legal guide my colleagues and I had a clear view that leaving the EU would take far longer and be far more complex than most other commentators were saying, but I did not anticipate then that over three years later we would have so little clarity on the UK and EU’s long term relationship with each other. Nor that polarisation of views on all sides would have increased still further, leading to political deadlock. This updated Brexit Legal Guide addresses the legal position if the UK leaves the EU with or without a deal and picks out the key pieces of legislation that will soon be in force if the UK leaves the EU without a deal. I hope you will find it useful. Read more
An Australian state Court of Appeal decision has expressly rejected the reasoning of Mr Justice Flaux (as he then was) in the English High Court case of Synergy Health (UK) Ltd v CGU Insurance Plc [2010] EWHC 2583 (Comm), finding that depreciation is not to be deducted as a “saving” when quantifying loss of Gross … Read more
In an important recent decision, the Court of Appeal has confirmed the test for rectifying a contractual document on the grounds of common mistake: FSHC Group Holdings Ltd v GLAS Trust Corporation Ltd [2019] EWCA Civ 1361. In summary, the Court confirmed that to establish a claim for rectification, a party must prove that the … Read more
As in many jurisdictions, class actions are becoming more frequent in the English courts. A body of case law is building up, and that will be added to by three cases which are to go to the Supreme Court, as discussed on this recent post on our Litigation Blog. Significant disputes of all types frequently … Read more
The FCA, Bank of England (“BoE”) and PRA yesterday announced measures to extend certain UK-specific Brexit transitional relief provisions for a further six months until 31 December 2020, in line with the extension of Exit Day until 31 October. This is generally in line with industry expectations and does not signal any material changes to … Read more
Warranty and Indemnity (W&I) insurance is being used more and more widely across the breadth of global M&A activity to provide protection to buyers for breaches of warranty. Whilst the W&I insurance policy will govern how and what claims can be made by buyers, there is considerable case law relating to the measure of damages … Read more
The increasing threat that new market entrants might use technology to win a share of the insurance market has been forcing established insurers to assess the ways in which they might maintain their competitive advantage. These assessments can be difficult and have far-reaching consequences, with some insurers selling businesses to allow their systems to be … Read more
