Follow-the-settlements clauses revisited

In autumn 2011, Thailand suffered severe floods. Among the properties damaged were shops and distribution centres owed by a subsidiary of Tesco. Tesco was insured against property damage and BI losses in Thailand under a master global policy issued by ACE European Group and under a local policy issued in Thailand by ACE INA.

The master policy responded on a difference-in-conditions/difference-in-limits basis, which meant that it was only to the extent that the losses fell outside the scope of the local policy that they were covered by the master policy.

ACE was reinsured in the London market as to 55 per cent of its exposure under the master policy and the local policies. Tokio Marine Europe Insurance (TMEI) took a 12.5 per cent line on the reinsurance and in respect thereof placed excess of loss reinsurance with Novae…

Click on the link below to read the rest of the DLA Piper briefing. 

Sign in or Register to continue reading this article

Sign in

Register

It's quick, easy and free!

It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.

Register now

Why register to The Lawyer

 

Industry insight

In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.

 

Market intelligence

Identify the major players and business opportunities within a particular region through our series of free, special reports.

 

Email newsletters

Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.

More relevant to you

To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.

Briefings from DLA Piper

View more briefings from DLA Piper

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

3 Noble Street
London
EC2V 7EE
UK
http://www.dlapiper.com

Turnover (£m): 1,566.29
No. of lawyers: 3,961 (UK 200)
Jurisdiction: global
No. of offices: more than 75
No. of qualified lawyers: 625 (International 50)

Jobs