The insured pharmaceutical company was sued for flooding the California pharmaceutical market with opioids, concealing the facts, disregarding its duties, and ignoring risks as a result of which people became addicted and even died as a result of opioid use. The insured sought an indemnity from the insurer’s which covered “bodily injury caused by an
A US court held in January 2024 that where the coverage provided by one insurer “shall be in excess over any other valid and collectable insurance available to the Insured … unless such insurance is written only as specific excess insurance over the limit of liability provided in this policy” did not overlap with a
A voetstoots clause in a contract of sale provides that the buyer accepts the thing sold ‘as it stands’ with all existing defects and that the seller, who does not act fraudulently, is not responsible for any hidden defects. The buyer can however have recourse if the seller intentionally conceals the known defects or provides
In January 2024 the High Court held that an insurer’s guarantee that ambiguously contained two incompatible expiry dates, namely the date of issue of the final completion certificate under the construction contract and the date on which the contractor had to pay under the consequent final payment certificate, should be interpreted in a businesslike fashion
In January 2024 a US court found that the pecking damage to the roof of a Maryland shopping centre by turkey vultures was caused by an “infestation” excluded under the policy.
The commercial property damage policy excluded cover for “nesting, infestation or discharge of waste by birds”.
The court found that the vulture presence on
A rented Lamborghini worth $200 000, which collided with a tree and was totaled, was not covered under a personal motor policy because the policy did not cover a “vehicle rented to or used by” an insured, and also excluded loss to any ‘non-owned auto’ when used by the named insured or any family member “without
The Companies Second Amendment Bill 2023 will, if enacted, permit the retrospective extension of the usual three year prescription period applicable to claims against directors under section 77 of the Companies Act, on good cause shown.
Those involved with D & O related insurance should be alert to their and their client’s retrospective risk in
Contractors All Risks Insurance: Any One Event (UK) – Part 3
In this judgment, discussed previously [here and here] the final issue for determination was the question of application of the insured’s Retained Liability.
The relevant clause read:
“The policy deductible was €10 000 each and every loss, but there was a deductible
A sale contract for maritime surveillance aircraft delivered in Japan provided that the contract must “not be assigned or transferred in whole or in part by any party to any third party, for any reason whatsoever, without the prior written consent of the other party”. Such a transfer would be void. The buyer insured the
An electrical arcing event to the main switchboard of the insured caused significant damage to the switchboard and an extended power outage. The “property insured” included “individual switchgear for starting and controlling motors and interconnecting wires and/or cables”. The claim was for damage to the combination fuse switch unit. The court held that the use