Latest on risk management, professional indemnity and compliance issues.
March 04, 2022
Quadra Commodities SA v XL Insurance Company SE & Ors  EWHC 431 (Comm)
Unsuccessful claim for damages under section 13A if the Insurance Act 2015.
February 07, 2022
Template response: SRA future of SIF and PSYROC consultation | The Law Society
The Law Society has produced a template response to the Solicitors Regulation Authority’s consultation on the future of the Solicitors Indemnity Fund and Post Six Year Run Off Cover (PSYROC).
The consultation closes on 15 February 2022.
February 04, 2022
Doorway Capital Ltd v American International Group UK Ltd  EWHC 182 (Comm)
There was no right to indemnity under a policy written under the Solicitors Regulation Authority Minimum Terms and Conditions for a claim relating to the firm’s funding as the claim did not arise from the provision of services in private practice as a solicitor. Sutherland Professional Funding Ltd v Bakewells  EWHC 2658 (QB) and Impact Funding Solutions Ltd v Barrington Support Services Ltd  EWHC 4005 (QB) considered. Obiter, the trading debt exclusion would have applied.
January 25, 2022
Merck and International Insurance v ACE American Insurance
The Superior Court of New Jersey has held, in Merck and International Insurance v ACE American Insurance, Docket No. UNN-L-2682-18, that a war exclusion did not apply to a claim arising from the NotPetya cyber-attack, widely attributed to the Russian military. This may arise in relation to war exclusions in cyber policies here.
January 17, 2022
Spire Healthcare Ltd v Royal & Sun Alliance Insurance Ltd  EWCA Civ 17 (11 January 2022)
Court of Appeal decision interpreting an aggregation clause in an insurance policy, and holding that multiple claims ‘consequent on or attributable to one source or original cause’ aggregated with one another and were subject to a single policy limit rather than two.