The Bermuda Form — actual or alleged liability?
Addleshaw Goddard’s e-alert in March last year, ‘Actual or Alleged Liability?’ reported on the Commercial Court judgment of Flaux J in relation to two preliminary issues arising in the context of AstraZeneca Insurance Co Ltd’s claim against its excess reinsurers, XL and ACE, to recover sums paid in its capacity as captive insurer in relation to the Seroquel litigation.
The judgment was the first English Commercial Court decision addressing Bermuda Form construction issues. Key to the first-instance decision was the fact that the standard Bermuda Form policy wording (XL004) had been amended to include English law as the governing law (instead of, as is usual in such policies, New York law). The parties agreed to waive the arbitration clause so that the issues could be determined in court.
In his first-instance decision, Flaux J found in favour of the defendant reinsurers, as follows…
If you are registered and logged in to the site, click on the link below to read the rest of the Addleshaw Goddard briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
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
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
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.
News from Addleshaw Goddard
News from The Lawyer
Briefings from Addleshaw Goddard
Addleshaw Goddard looks back at the key legislative developments for 2014.
Addleshaw Goddard gives an overview of future legislative developements for the coming year.
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
Could Slater & Gordon achieve its stated aim of becoming a top consumer brand by acquiring Pannone?