Liability Insurance in International Arbitration: The Bermuda Form

ISBN-13: 9781509917259 / Angielski / Twarda / 2022 / 488 str.

UK) Sir Richard Jacobs (English High Court; USA) Lorelie S Masters (Hunton & Williams LLP; UK) Paul Stanley KC (Essex Court Chambers

Opis

This is the third revised edition of what was described by the English Court of Appeal in C v D as the “standard work” on Bermuda Form excess insurance policies. The Form, first used in the 1980s, covers liabilities for catastrophes such as serious explosions or mass tort litigation and is now widely used by insurance companies. It is unusual in that it includes a clause requiring disputes to be arbitrated under English procedural rules in London but subject to New York substantive law. This calls for a rare mix of knowledge and experience on the part of the lawyers involved, each of whom is required to confront the many differences between English and US law and legal culture. In addition, since the awards of arbitrators are confidential and are not subject to the scrutiny of the courts, the book helps professionals understand the Form's lengthy and complex provisions. The book, first published in 2004, was the first comprehensive analysis of the Bermuda Form. It is frequently cited in Bermuda Form arbitrations and was the joint winner in 2012 of British Insurance Law Association Book Prize for the most notable contribution to literature in the field of law as it affects insurance. It offers a detailed commentary on how the Form is to be construed, its coverage, the substantive law to be applied, the limits of liability, exceptions, and, of course, the procedures to be followed during arbitration proceedings in London. The book will prove invaluable to lawyers, risk managers, and executives of companies which purchase insurance on the Bermuda Form, and to clients, lawyers or arbitrators involved in disputes arising therefrom. This title is included in Bloomsbury Professional's International Arbitration online service.

Spis treści

1. THE LEGAL AND ECONOMIC ORIGINS OF THE BERMUDA FORM Policy Forms and Liability Problems US Legal Decisions on Insurance Coverage Issues The Creation of ACE and XL Key Features of the Bermuda Form 2. THE BERMUDA FORM: ITS BASIC STRUCTURE An Occurrence Reported Form The Period of Cover: Coverage A and B Limits The Excess Point The Inception and Retroactive Coverage Dates The Exclusions The Conditions Schedules and Endorsements 3. CHOICE OF LAW ISSUES UNDER THE BERMUDA FORM Identifying the Relevant Governing Law The Division between Substance and Procedure 4. INTERPRETATION OF THE BERMUDA FORM AND THE MODIFICATION OF NEW YORK LAW The Structure of the Modification of the New York Law Proviso Interpretation of Insurance Contracts: The Basic Approach Interpretation of the Modification of the New York Law Proviso The ‘Forbidden Grounds’ Fruit of the Poisonous Tree? 5. THE COVERAGE CLAUSE Insurance against Liability The Insured Ultimate Net Loss/All Sums Insurance … For Damages Judgments Settlements by the Policyholder Mitigation of Damages Allocation of Payments Personal Injury, Property Damage and Advertising Liability Personal Injury Property Damage Advertising Liability Other Aspects of the Coverage Clause 6. THE DEFINITION OF ‘OCCURRENCE’ Introduction ‘Occurrence’: The Basic Definition Aggregation Expected or Intended Injury 6 7. FORTUITY, EXPECTED OR INTENDED, AND THE ‘MAINTENANCE DEDUCTIBLE’ Introduction Fortuity and Related Doctrines Expectation and Intention The ‘Maintenance Deductible’ 8. NOTICE OF OCCURRENCE Introduction Method of Giving Notice Notice as a Condition of Coverage Notice as a Trigger of Coverage: Legal and Practical Considerations 9. ARTICLE II: THE EXCESS POINT AND LIMITS OF LIABILITY The Excess Point The Other Insurance Condition The Policy Limits Joint Ventures, Partnerships and Minority Interests 10. THE EXCLUSIONS Introduction 6 Interpretation of Exclusion Clauses: General Principles and the Effect of the Bermuda Form’s Modification of New York Law Causation The Specific Exclusions in the Bermuda Form: Introduction The ‘Prior to Inception or Retroactive Coverage Date’ and ‘Other Insurance’ Exclusion The ‘Workers’ Compensation, etc’ Exclusion The ‘Professional Services’ Exclusion The ‘Owned Property; Care, Custody or Control, etc’ Exclusion The ‘Products Liability’ Exclusions (‘Efficacy, Loss of Use, etc’) The ‘Advertising’ Exclusion The ‘War’ Exclusion The ‘Toxic Substances’ Exclusion The ‘Aircraft’ Exclusion The ‘Watercraft’ Exclusion The ‘Pollution’ Exclusion The ‘Nuclear’ and the ‘Radioactive Contamination (Outside the United States)’ Exclusions The ‘Erisa’ Exclusion The ‘Repetitive Stress’ Exclusion The ‘Securities, Antitrust, etc’ Exclusion 11. THE CONDITIONS The Premium Condition The Inspection Condition The Cross-liability Condition The Notice of Occurrence Condition The Assistance and Co-operation Condition The Appeals Condition The Loss Payable Condition The Representation Condition The Other Insurance Condition The Subrogation Condition The Changes Condition The Assignment Condition The Cancellation Condition The Currency Condition The Arbitration Condition The Conflicting Statutes Condition The Law of Construction and Interpretation Condition The Proration of Losses Condition The Liability of the Company Condition The Policy Extension Condition The Reinstatement Condition The Discovery Period Condition The Expiration Date Condition The Former Subsidiaries, Affiliates and Associated Companies Condition The Notice Condition The Headings Condition 12. MISREPRESENTATION AND NON-DISCLOSURE Introduction Non-Disclosure under New York Law Misrepresentation under New York Law Remedy for Misrepresentation 13. WAIVER AND ESTOPPEL AND RESERVATIONS OF RIGHTS Introduction Waiver Estoppel The ‘Changes’ Condition in the Bermuda Form 14. COMMENCING A BERMUDA FORM ARBITRATION AND APPOINTING ATTORNEYS AND ARBITRATORS Introduction Legal Representation The Commencement of Arbitration The Selection of an Arbitrator Appendix: Notice to Commence Arbitration 15. THE COURSE AND CONDUCT OF A BERMUDA FORM ARBITRATION IN LONDON Introduction The Overall Shape of the Arbitration The ‘Pleadings’ Stage The First Order for Directions Confidentiality Discovery of Documents Preliminary Issues or ‘Bifurcation’ Witness Statements Expert Evidence Preparation for the Substantive Hearing The Substantive Hearing The Award and Post-Award Events Appendix 1: First Order for Directions Appendix 2: Protective Order 16. DISCOVERY, PRIVILEGE AND WAIVER OF PRIVILEGE General Principles Discovery in Arbitration in Practice Legal Professional Privilege Waiver of Privilege Confidential Documents Other Forms of Discovery 17. INTEREST AND COSTS Interest Costs