||All England Reporter
|| All ER (D) 36 (Oct)
|| EWHC 2197 (Comm)
||Gavin Kealey QC and David Allen (instructed by Kendall Freeman) for the claimants.
||Roger Stewart and Paul Sutherland (instructed by Masons) for the defendants.
||5 October 2004
Insurance - Liability - Settlement of original claim - Right of reinsurer to require proof of insurer's liability to original assured.
A global settlement of an underlying dispute which had given rise to a claim under a liability insurance policy did not satisfy the requirement of ascertainment of loss under such a policy. It did not impose on the assured any identifiable loss in respect of any identifiable insured eventuality. It merely identified the overall price paid by the assured as consideration for a contract which conferred on the assured various different benefits including the cessation of the litigation.
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