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Astrazeneca Insurance v XL Bermuda and Ace Bermuda was the first case in which the English courts had been asked to consider the proper interpretation of a ‘Bermuda Form’ policy.
The court determined a number of issues about the nature and effect of a policy of professional liability insurance.
In May 2006, the Alexandros T sank off the shore of South Africa; her owners commenced proceedings in the Commercial Court against the vessel’s insurers for an indemnity.
7KBW’s David Edwards QC has received the Insurance Silk of the Year award while the law firm won Insurance Set of the Year.
At a trial of the action, Mr Justice Field held that there had been a breach of the typhoon warranty.
In an appeal from Teal Assurance v WE Berkeley Insurance, the Supreme Court has the opportunity to consider and perhaps jettison the hold harmless fiction.