On 2 May 2018 Ince & Co held the first of its 2018 Insurance & Reinsurance Law Seminar series for the London market. Partner Simon Cooper opened the event by outlining the key points insurers and brokers need to know about the Single Claims Agreement Party (SCAP). SCAP is a ground-breaking agreement which is the product of collaboration between the London and International Insurance Brokers Association (LIIBA), the Lloyd’s Market Association (LMA) and the International Underwriting Association (IUA). Simon, together with Associate Mehmet Achik-El, assisted in the drafting of the agreement and provided legal advice on the project to the LMA and IUA.
Next up was our regular feature, ‘What’s New in the Courts?’, an update on the most recent insurance and reinsurance cases. Senior Associate Christopher Crane reviewed the decision in Bluebon Limited v Ageas, in which the High Court was tasked with deciding whether an ‘Electrical Installation Inspection Warranty’ in a property policy was a ‘true’ warranty. He also considered what decision the court might have come to had the Insurance Act 2015 (which applies to contracts entered into on or after 12 August 2016) applied. Partner Ben Ogden then took a look at the decision in Wingate v SRA and SRA v Malins, in which the Court of Appeal grappled with the meaning of “integrity” in the context of professional conduct and, specifically, whether it is synonymous with “honesty”. Managing Associate Carrie Radford continued the dishonesty theme with some recent judicial interpretations of ‘fundamental dishonesty’ within the meaning of the Civil Procedure Rules and the Criminal Justice and Courts Act 2015.
Simon Cooper ended proceedings with some crystal ball gazing, looking at some of the forthcoming legal and regulatory developments likely to have practical implications for the insurance/reinsurance market. In the next few months, the Supreme Court will hand down judgment in the B Atlantic as to whether clause 4.1.5 of the standard form Institute War and Strikes Clauses 1/10/83, which excludes losses arising from detainment by reasons of infringement of customs regulations, operates to exclude a claim where the infringement of customs regulations occurred due to an insured peril. They will also be ruling on jurisdictional issues, in Keefe v Hoteles Pinero Canerias, which has the potential to have a significant impact on where insurers can be sued. Simon also flagged some of the legal and regulatory issues likely to arise from market modernisation, cyber risk and the growing use of AI in insurance and more generally.
If you are interested in receiving a copy of the slides, please contact firstname.lastname@example.org.