Wed, 22 May 2013
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Collyer Bristow's future looks secure as it defeats Innovator One claim
@9:20 - I suspect one of the reasons why the case got to trial (and then to judgment) was the insurance dispute referred to in the article. I understand the various layers of CB's PI cover may not have been written "back to back" (ie with the same policy wording, especially as regards aggregation of claims). Accordingly, the primary layer was saying it was a single claim (ie only one lot of £2m) and excess layer was saying it was multiple claims. Based on the wording for their particular layer, both could have been correct. Which means there was probably not enough cash to be put on the table on behalf of CB to make the case go away. Had there not been a cover dispute, methinks enough would have been offered to see the case settle. Agree with those comments above about this result having a very negative impact on Enyo's bottom line.
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