Devereux Chambers

Experts

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Alice Carse
Devereux Chambers
Andrew Burns
Devereux Chambers
David Peter
Devereux Chambers
Katya Hosking
Devereux Chambers
Marika Lemos
Devereux Chambers
Peter Edwards
Devereux Chambers
Robert Hunter
Devereux Chambers
Timothy Brennan
Devereux Chambers
Contributions by Devereux Chambers Experts

34

Aggregating insurance claims and reinsurance claims
Aggregating insurance claims and reinsurance claims
Practice notes

This Practice Note explains the purpose of aggregation clauses in insurance and reinsurance policies and discusses some of the relevant case law. It considers: what are aggregation clauses, why aggregate claims, 9/11 aggregation, aggregation arising from one event, aggregation arising from one originating cause, and aggregation resulting from a series of acts or omissions. This topic may be referred to as an introduction to aggregation of insurance claims and aggregation of reinsurance claims; defining or the definition of aggregation in insurance law; in the aggregate; and, aggregating language.

Control of insurance companies
Control of insurance companies
Practice notes

This Practice Note addresses the control of insurance companies and the steps which need to be taken under the relevant regulatory regime when that control changes. It sets of the regulatory background under the Financial Services and Markets Act 2000 (FSMA 2000) and covers the dual regulatory regime under the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) as they apply to the control of insurance companies. This includes: the definition of controller, notification of decision to effect a change in control, notification of decision to effect a change in control, definition of a change in control, reducing or ceasing to have control, exemption for non-directive firms—the Financial Services and Markets Act 2000 (Controllers) (Exemption) Order 2009, SI 2009/774, application to acquire or increase control, FSMA 2000, s 185(2), sale of shares and reduction or cessation of control.

Resolution and recovery of UK-based insurers
Resolution and recovery of UK-based insurers
Practice notes

This Practice Note provides an overview of the collapse of Equitable Life in 2000 to new business due to inability to pay guaranteed annuities, and the regulatory shortcomings. The Note describes the role of the Prudential Regulation Authority (PRA) and the applicable law, the Financial Services and Markets Act 2000 (FSMA 2000). The insolvency regime is described, as well as the Financial Services Compensation Scheme (FSCS).

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