This presentation will focus on the developments in English insurance (including marine insurance) and reinsurance law in the last 12 month period. This period has witnessed a sheer number of insurance and reinsurance disputes many of which brought questions before the courts that had not been judicially determined before. In a reinsurance dispute the courts for the first time clarified the meaning of ‘catastrophe’ and the application of the ‘hours clauses’ in the context of Covid-19. The care that must be observed in the selection of the standard market wordings was also illustrated through a reinsurance dispute. The courts also clarified whether an excess of loss cover could be regarded as ‘underinsurance’, reiterated the meaning of ‘seizure’ and brokers’ duties to their clients and ruled that the damages against the brokers can be assessed on the loss of chance basis. Moreover, the enforcement of conditions precedent to insurer’s liability under the Insurance Act 2015 was discussed. The marine insurance disputes included the assured’s duty of disclosure and the duty to mitigate the loss, the assured’s knowledge when the assured is a company, fortuity, the enforcement of the ‘pay first’ clause in the P&I club rules, damages for late payment by the insurers, ransom, general average and physical v pure economic loss. Numerous cases continued to discuss the business interruption losses suffered due to the Covid-19 outbreak. The courts reiterated the causation test applied by the UK Supreme Court in the FCA test case in assessing such claims as well as the meaning of the word ‘occurrence’ and how the losses will be aggregated in composite policies.
BOOKING FOR THIS EVENT IS NOW CLOSED
Please join BILA YP at their Winter 2024 Casino Night
Enjoy all the thrill of a Casino along with drinks, nibbles and networking with your peers in the insurance market
10th December 2024
Timings: 17.30 until 21.00
Location: Steam Wine Bar, 1 St George’s Lane, EC3R 8DJ
Tickets £10.00 per person
The full cost of this event is kindly sponsored by Clyde & Co LLP. Proceeds from ticket sales will fund future BILA Young Professionals activities.
Please Note
If you need to cancel your attendance at this event a full refund will be available until Wednesday 4 December. After this time, refunds will not be available but tickets can be transferred into alternative attendees free of charge.
BOOKING FOR THIS EVENT IS NOW CLOSED
Virtual Lecture
Four members of Crown Office Chambers will explore and discuss key insurance issues that arise from the fire safety and cladding claims that are ultimately being made against insurers under various types of policies following the Grenfell Tower Tragedy in 2017. Ben, Isabel, Ivor and Elizabeth will consider the various remedies that are now being sought in such claims and whether they neatly fit within the scope of cover available under various insurance policies. They will focus in particular on professional indemnity policies and the various limits that have been placed on cover by insurers in recent years.
The BILA Charitable Trust has arranged with the kind support of BILA a Memorial Lecture to be delivered on Wednesday 6 November 2024 in the Old Library, Lloyd’s of London to mark the passing and lifelong contribution made to insurance law, BILA and to the BILA Charitable Trust by Professor Malcolm Clarke, who died on 5 April 2024 at the age of 81.
No registration fee is being charged to attend the Lecture, but all are encouraged to make a donation to the Trust, either as a one-off gift or by way of a regular annual payment, to help the Trust maintain its work over future years. To assist with any donating this BILA Charitable Trust – Donation and Standing Order Form_has been created for your kind use.
In-Person Lecture to be held at Lloyd’s Old Library, 1 Lime St, London, EC3M 7HA
Please ensure you bring photographic ID or Lloyd’s Pass
Booking for this event is now closed.
Professor Kenneth Abraham (University of Virginia) will analyze the ways in which insurance and insurance law act as a gatekeeper to certain activities (e.g., driving, homeowning, handling of hazardous chemicals) and how the devices insurance uses to combat moral hazard (e.g., risk-based pricing, partial insurance, coverage exclusions) do and do not function effectively.
BILA VIRTUAL LECTURE
Professor Kelvin F.K. Low read law at the National University of Singapore and Oxford University. Before his current appointment at the University of Hong Kong, he held previous appointments at National University of Singapore, Singapore Management University, and City University of Hong Kong. His research interest spans the field of private law but with a particular interest in property, broadly defined. He has published internationally with leading journals such as the American Journal of Comparative Law, the International & Comparative Law Quarterly, Legal Studies, Lloyd’s Maritime and Commercial Law Quarterly, the Law Quarterly Review, the Melbourne University Law Review, and the Modern Law Review. He is a co-author (together with Michael Bridge, Louise Gullifer, and Gerard McMeel) of the 2nd and 3rd editions of The Law of Personal Property, and co-author (together with Tang Hang Wu) of the 3rd and 4th editions of Tan Sook Yee’s Principles of Singapore Land Law. His works have been cited by the courts in Australia, Canada, England and Wales, Hong Kong SAR, Malaysia, New Zealand, and Singapore as well as law commissions and law reform bodies in Australia, England and Wales, Ireland, New Zealand, Scotland, and Singapore.
The explosion of interest in cryptoassets has revived interest in a curious notion in the law of personal property: the tertium quid or personal property that is neither a thing in possession nor a thing in action. This renaissance, however, has not taken into account historical debates over the same or the law’s experience of the same in respect of patents. Once these lessons are properly accounted for, it will be clear that there is nothing to stop the law from treating cryptoassets as things in action and the law can focus on the more important question of what rights said thing in action entails. The Law Commission’s proposal to introduce a tertium quid into English personal property law, recently tabled as a Bill in Parliament, brings little clarity to the question of what rights cryptoasset holders actually have but introduces tremendous uncertainty into English personal property more broadly. The reform is built upon clear and obvious misreadings of the slim precedents cited in support and is also contrary to trends in other common law jurisdictions.
BILA YP is delighted to host a mock arbitration with members of Essex Court Chambers concerning whether excess of loss insurance which covers “any one catastrophe” would apply to claims resulting from a global pandemic. Please do join us to see how this internationally ‘hot’ topic would be debated in an arbitral setting.
Tickets are £10.00 per person (invoices will be sent out upon receipt of your booking) and will only be refundable if notification is received in writing one week prior to the event.
Booking for the event is now closed, if you require assistance, please email office@bila.org.uk
5:30pm – 6:30pm on Wednesday, 7 August 2024 (arrive at 5pm)
S-RM Offices at 15 St Botolph Street, London EC3A 7DT
Virtual Lecture
Please join BILA YP and Young AIDA France for a virtual discussion on ESG regulatory outlook for general insurers: an overview of the position in the UK and France, with a focus on climate & sustainability and diversity, equity & inclusion as areas of significant regulatory attention.
Following this lecture, there will be time for you to ask your own questions in a Q&A session:
Virtual Lecture
Steven McEwan is a Senior Counsel and Jonathan Russell and Edward Steward are each partners in the Corporate Insurance team at Hogan Lovells. They each have broad experience advising clients across the insurance sector, both life and non-life, in a wide range of transactional and regulatory matters, including M&A, Part VIIs, (re)insurance arrangements and the application of Solvency II.