The forced closure of many businesses as a result of the Coronavirus pandemic has had a huge impact on the nation’s Gross Domestic Product (GDP). Recent reports from the Office for National Statistics state that the economy was 25% smaller in April than it was in February this year.
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Contingent loss is relevant to limitation; specifically, the date at which a claimant’s cause of action accrues for the purposes of a claim in the tort of negligence (as many claims against professional advisers are framed).
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In March 2019, the Ministry of Justice launched a formal consultation (which came to an end on 6 June 2019) aimed at extending the use of fixed recoverable costs in civil claims.
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On 11 January 2019 Mr Justice Foskett provided his judgment in respect of an application for non-party costs pursuant to section 51 of the Senior Courts Act 1981 against AIG.
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Last month the FCA announced that a market study on general insurance pricing practices was “needed”, and published its terms of reference (‘ToR’) for such study.
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In the context of sanctions and heightened tensions in the Middle East and Russia, the recent Mamancochet judgment is important and will be of interest to insurers who insure businesses that are exposed to risks in these markets.
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Last year’s judgment of the High Court in Director of the Serious Fraud Office v Eurasian Natural Resources Corporation created huge anxiety within the business community and its lawyers.
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The University of Nottingham, in collaboration with Browne Jacobson, have undertaken a detailed academic study into the readability of insurance policies, with some fascinating results.
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A recent Court of Appeal judgment on 16 May 2018 considered the test for relevant ‘knowledge’ within section 14A of the Limitation Act. The Appellant was appealing against a decision granting the Respondents summary judgment on the basis that the claims against them in negligence and for breach of contract were time barred.
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