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FSA makes new rules on close links, SCV and PIF prudential requirements
  • Dentons
  • United Kingdom
  • November 13 2009

At FSA's Board Meeting on 5 November, it made several sets of key new rules.

Court of Appeal considers non-disclosure and notification in the context of legal expenses insurance
  • Locke Lord LLP
  • United Kingdom
  • February 16 2009

In Laker Vent Engineering Ltd v Templeton Insurance Ltd 2009 EWCA Civ 62 Templeton Insurance Ltd (Templeton) appealed against a decision that it was bound to indemnify Laker Vent Engineering Ltd (Laker) under a legal expenses policy in respect of the costs arising out of an arbitration between Laker and a German company, Gas Wesser Umwelt Gommen GmbH (GWUG).

Lloyd's Legislative Reform Order: amendments to Lloyd's Byelaws
  • Locke Lord LLP
  • United Kingdom
  • January 16 2009

We have reported previously on the progress of the Lloyd's Legislative Reform Order (LRO) through the UK Parliament and on the consultation by Lloyd's in relation to the proposed amendments to the Lloyd's Bylaws.

Notification of circumstances under professional indemnity policies - notify circumstances in a timely fashion or face the consequences
  • Herbert Smith Freehills LLP
  • United Kingdom
  • November 11 2008

The Judgment of the Court of Appeal last week in HLB Kidsons (a firm) -v- Lloyd's Underwriters subscribing to Lloyd's Policy Number 621PK1D00101 and Others 2008 EWCA Civ 1206 provides further guidance on notification provisions under professional indemnity policies.

Court considers meaning of "damages"
  • Locke Lord LLP
  • United Kingdom
  • July 2 2008

In Bedfordshire Police Authority (BPA) v. David Constable (sued on his own behalf and on behalf of all other members of Syndicate 386 at Lloyd's) (the Syndicate) 2008 EWHC 1375, BPA sought a declaration that the Syndicate be liable to indemnify it in respect of BPA's potential liability under the Riot (Damages) Act 1886.

Market Reform Group (MRG) announcement regarding progress on business process reform
  • Locke Lord LLP
  • United Kingdom
  • February 1 2008

The London market has made significant progress in meeting its goal of reforming business processes during 2007.

The English High Court has ruled on various costs issues following judgment in a late notification case involving the Lloyd's market
  • Locke Lord LLP
  • United Kingdom
  • December 20 2007

In HLB Kidsons (A Firm) v Lloyds Underwriters & Others 2007 EWCH 2699, a dispute arose over whether the claimant firm of accountants had properly notified claims to the defendant insurers.

James T. Killelea
  • Locke Lord LLP

Dorian Drew
  • Norton Rose Fulbright