Astrazeneca v XL Insurance A3/2013/0824
On 28 February 2013, we reported on the decision of Flaux J in Astrazeneca Insurance v XL Bermuda and Ace Bermuda, the first case in which the English courts had been asked to consider the proper interpretation of a ‘Bermuda Form’ policy.
The case concerned a claim by Astrazeneca Insurance, the captive insurer of the worldwide pharmaceutical company, against XL Bermuda and Ace Bermuda under a £133m layer of liability cover in respect of more than $800m (£490m) that Astrazeneca had paid to defend and settle claims made against it in the US and elsewhere in connection with its blockbuster drug, Seroquel…
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Gavin Kealey QC and Tim Jenns acted for the claimant, BAT Industries, in a substantial jurisdiction application.
The court determined a number of issues about the nature and effect of a policy of professional liability insurance.