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Good faith requirement in a guarantee

14 May 2018 | General

Where a retention guarantee was provided to a construction company for an amount to be demanded but not exceeding ‘a good faith estimate of the costs’ claimed, the contractor had to show that the demand was made in the honest belief that it was a correct estimate of what it was entitled to be paid under the guarantee. The contractor failed to do so and its claim under the guarantee was unsuccessful.

Ambiguous limits of indemnity (UK)

14 May 2018 | General

Where a policy schedule and the wording of the policy were not on the face of it consistent, the court considered the combined effect of the limit for a single claim and a number of linked claims and held that the same £10 million applied to both.

Dependants can’t sue Road Accident Fund where breadwinner dies in single vehicle accident

26 April 2018 | General

The surviving wife and children of a breadwinner sued the Road Accident Fund for damages when he died as a result of a single vehicle accident in which the deceased’s negligence was the sole cause of the collision.

‘Arising out of or in connection with’ use of land in liability insurance exclusion

24 April 2018 | General

A New Zealand couple owned a farm in which they carried out farming activities and a landscaping business. They built and burned a fire heap on the property. Strong winds spread the embers and the fire spread rapidly onto nearby properties causing extensive damage. Their insurance policy excluded ‘legal liability arising out of or in connection with your farming operation, for accident damage to other people’s property’.

quick poll

Question

What do you believe will be the biggest challenge when the COFI framework is finally implemented?

Answer

The cost and complexity of relicensing Demonstrating customer outcomes through data and reporting Embedding a customer-first culture across the business Aligning existing compliance frameworks with COFI requirements

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Day Zero and your employees – What an employer needs to know

17 April 2018 | General

Two bridge collapses from same design flaws are ‘related claims’ (US)

12 April 2018 | General

Spotlight on malicious complaints to professional regulators

09 April 2018 | General

Subcontractor required to provide own insurance held not entitled to project insurance (UK)

06 April 2018 | General

Financial Sector Regulation Act in force from 1 April 2018

04 April 2018 | General

Short-term Insurance Act 1998: Proposed amendments to the regulations made under section 70 affecting premium collection

27 March 2018 | General

No cover for racing school accident even though exclusion not read by insured (US)

14 March 2018 | General

What is personal lines business?

28 February 2018 | General

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Legal Affairs