Insurance
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Is your insurance up to the job?
James King addresses three major issues that could affect whether your assets are properly protected
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Parties that do not follow insuring obligations to the letter may incur unwanted costs
It is generally recognised that it is not practical for individual tenants to insure their own units if a building is in multiple occupation.
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Insurance premiums that were inexplicably high had been unreasonably incurred.
Most landlords reserve the right to insure their buildings with an insurance company of their own choice, at the cost of their tenants. However, the cost of insurance varies enormously…
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Western Trading Ltd v Great Lakes Reinsurance (UK) SE (formerly Great Lakes Reinsurance (UK) plc)
Insurance – Indemnity – Building destroyed by fire – Manager of building claiming under insurance policy for cost of reinstatement – Whether manager entitled to recover reinstatement cost – Whether…
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How to calculate the correct reinstatement value following a fire
Great Lakes Reinsurance (UK) SE v Western Trading Ltd [2016] EWCA Civ 1003 demonstrates the potential differences of opinion between an insured and its insurer about the settlement figure if…
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Western Trading Ltd v Great Lakes Reinsurance (UK) SE and another
Insurance Indemnity
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Western Trading Ltd v Great Lakes Reinsurance (UK) SE and another
Insurance – Indemnity – Building managed by respondent destroyed by fire – Appellants insuring property for cost of reinstatement – Whether respondent entitled to recover reinstatement cost – Whether entitlement…
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Eurokey Recycling Ltd v Giles Insurance Brokers
Insurance Negligence
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Eurokey Recycling Ltd v Giles Insurance Brokers
Insurance – Business interruption risk – Negligence – First defendant insurance broker obtaining insurance cover for claimant’s premises – Fire breaking out and causing damage – Premises being grossly under-insured…
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Landlords who covenant to insure against explosions must also insure against acts of terrorism.
Owners of residential buildings in multiple occupation may choose not to insure against acts of terrorism in the belief that their buildings are unlikely to be a terrorist target.
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Genesis Housing Association Ltd v Liberty Syndicate Management Ltd
Insurance Warranty
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Genesis Housing Association Ltd v Liberty Syndicate Management Ltd
Construction – Building contract – Insurance – Warranty – Appellant engaging builder to carry out development – Insurance cover obtained in respect of insolvency of builder during construction period –…