In an interesting case in Los Angeles, a court held that a cyber liability policy that covered “errors, omissions or negligence” did not cover a claim for a temporary loss of customer information deliberately withheld by a data company.
The insured, Global Fitness, purchased LA Fitness and then needed the members’ credit card and
Islamic finance transactions are governed by Shariah law. These cater for Islam’s prohibition on charging interest. A court will however apply default interest to such a debt when the debtor has failed to perform a contractual payment obligation under such agreement.
The Supreme Court of Appeal in Lodhi 5 Properties Investments v FirstRand Bank Limited
“Where an endorsement conflicts with the body of an insurance policy, the endorsement controls.” So said a US court in a claim by sugar farmers for assistance in the defence of a claim for the negligent spraying of weed killer on the neighbouring date palm farm.
The policy contained an exclusion for claims arising from
The system proposed in Missouri, which allows for an adjustment of the cap depending on the severity of the injury, may represent an attractive option should some form of capping be introduced in South Africa. There is already an existing body of expertise and precedent for assessing the severity of injuries which has sprung up
The Appeal Board of the Financial Services Board recently emphasised that findings of criminal or delictual conduct are only made by courts and lesser tribunals following hearings at which evidence is heard and tested by cross-examination. If decision-makers such as the registrar of short-term insurance have to consider whether wrongful conduct of that kind has
Public bodies performing administration functions such as the SA Pharmacy Council must give rational reasons for their decisions and have a factual basis for making the decision. Even a body with statutory powers to generally “do all such things as the Council deems necessary or expedient to achieve the objects of this Act” does not
A surety does not usually operate a business providing security at a price nicely determined according to the assessed likelihood of the risk occurring. That is what insurers do.
Fusion Underwriting Guarantees Agency provided suretyships, called guarantees, as performance guarantees to contractors performing work on behalf of employer municipalities. Before doing so Fusion required a
The Connecticut supreme court found that a policy covering damage caused through the publication of private material was not triggered because there was no proof that the information on the lost tapes was ever accessed by anyone.
In 2007 a cart holding computer tapes fell out of the back of a transportation contractor’s van onto
In an important judgment delivered by the Supreme Court of Appeal on 20 May 2015 in African Banking Corporation of Botswana Ltd v Kariba Furniture Manufacturers (Pty) Ltd and others, the Supreme Court of Appeal held that a purportedly binding offer made to a creditor, who opposes a business rescue plan, is not automatically
A Massachusetts USA court held that the insurer did not have to prosecute counterclaims against a former vice president of the insured company who was suing for wrongful termination in an action defended by the insurers in terms of the policy.
The court held that the policy only required the defence of claims made against