Source: All England Reporter
Publisher Citation: [2002] All ER (D) 69 (Nov)
Neutral Citation: [2002] EWHC 2290 (Comm)
Court: Commercial Court
Judge:

Morison J

Representation Anthony Temple QC and Robert Anderson (instructed by Clyde & Co) for the syndicates.
  Stephen Ruttle QC, Rory Phillips and David Quest (instructed by CMS Cameron McKenna) for GIO.
  Mark Templeman and James Collins (instructed by Holman Fenwick & Willan) for NCR.
  Nicholas Hamblen QC and Richard Waller (instructed by Barlow Lyde & Gilbert) for AON.
Judgment Dates: 6 November 2002

Catchwords

Insurance - Reinsurance - Contract of reinsurance - Provision entitling reinsurer to increase premium following 'extraordinary' event - Interpretation of clause.

The Case

The court considered the correct interpretation of a provision in a reinsurance contract which gave the reinsurer the right to increase the annual premium at any anniversary date during the term on a pro rata basis, if prior to the termination date, there had been a material change in the normal underwriting guidelines, 'material change' being defined as including an 'extraordinary event'.

Practice Areas

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