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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.
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.