The trustees of a trust which had invested money through a trust administration company whose directors had misappropriated the funds failed in its action against the investment manager of the funds which innocently paid out the funds to the trust administration company. The court held that the investment manager had not acted wrongfully nor negligently

Insurance claims handlers are tasked with navigating the intricate web of policy coverage, assessing damages, and ensuring prompt resolution for policyholders. Amidst the flurry of processing claims, it’s essential not to overlook a critical aspect of the role: the recovery process.

While the primary focus is often on addressing the immediate needs of policyholders, overlooking

In the course of a judgment dealing with two reinsurance contracts, issued within days of each other with different jurisdiction clauses, the court made the following remarks in passing regarding the description of the one contract as ‘the signed slip’:

“That terminology brings to mind the practice … whereby a binding contract would be included

Water damage cover under a property policy excluded losses from “water that backs up or overflows or is otherwise discharged from a sewer, drainpipe …” except as provided for in additional coverage. The additional coverage insured “water that backs up or overflows from a sewer or drainpipe” but “the most we will pay for loss

“Shadow trading” occurs when someone possessing insider information about a company thereby possesses inside information about another company and trades in the shares of a similarly situated competitor.

A senior executive of a biopharmaceutical firm received confidential information about the impending takeover of his former company. Within seven minutes after receiving an email about the

On 18 March 2024 the California appellate court dismissed an appeal by Frantic Inc, professionally known as heavy metal band Metallica, claiming losses under a Cancellation, Abandonment and Non-Appearance Insurance policy because it was subject to a Communicable Disease exclusion excluding “any loss directly or indirectly arising out of, contributed by, or resulting from any communicable

In mid-March 2024 a Kentucky state jury found liability of $164 million against an insurance company which had sent out a tow truck on a roadside assistance job which rear-ended a motorist leaving her quadriplegic. In the end of the jury awarded the maximum amount she claimed, namely $111 million. The jury found that the insurance company