Insurance e-brief: November 2012
The objective of this e-brief is to provide short and focused summaries of legal developments of interest to insurance professionals in the UK and elsewhere. As well as commenting on recent judgments, we will be reporting on relevant legal trends and initiatives, including legislative changes and other proposals for reform.
- Let it be: the Commercial Court endorses the literal meaning of “theft”
- Tortious acts outside the UK: the tortuous process for assessment of damages
- Contract certainty? What lessons can be learnt from recent judicial decisions on policy interpretation?
- Faking it: the Supreme Court considers the power to strike out for fraud
- All change: Insurance Mediation Directive 2
- Want of due diligence — negligence or recklessness?
- Mis-selling investment products — the UK courts’ approach
- Applicable law and jurisdiction: why do they remain such contentious issue
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A carrier, whose containers had been detained for a long time and seemed to be unlikely to be returned, was found not to have the right to daily liquidated damages for an open-ended period.
The orthodox view is that damages are limited to losses suffered during the overrun period only. Similar issues were explored in a recent judgment from the Commercial Court in the Great Creation.