Legal Affairs / General

Enforceability of the sanctions exception in policies (UK)

An awaited decision on the enforceability of the sanctions provision in policies of insurance heard in the UK courts has turned out to be of not much general assistance.

Bitcoin held to be property not money for insurance policy (US)

A court in Ohio found that bitcoin is covered ‘property’ under a homeowner’s policy and not ‘money’ and therefore the claim for lost bitcoin was not limited by the money sublimit.

PI policy cannot be ceded to third party

Insurer entitled to rely on third party expert’s conclusions (US)

A Delaware court held that a property insurer did not breach its policy issued to a farm when it refused to cover the collapse of a chicken coop during a blizzard because it justifiably relied on expert reports indicating that the destruction was caused by snow and faulty construction which were exclusions under the policy.