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Insurance and reinsurance: case law, PRA climate risk and matching adjustment updates, EIOPA IRRD consultations, IAIS review, SFO bribery charge—1 May 2025

Published on: 01 May 2025

Published by a LexisNexis Insurance & Reinsurance expert
Legal News
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Article summary

In this issue:

  • Cases and decisions
  • Insurance types
  • UK regulation
  • EU regulation
  • International regulation
  • Financial crime and sanctions
  • Cases tracker
  • Dates for your diary
  • Daily and weekly news alerts
  • LexTalk®Insurance: a Lexis®Nexis community

Cases and decisions

Makin (by his mother and litigation friend) v The Restaurant Muse Ltd and others

This appeal arose from a dispute about policy coverage. The court concluded that:

  • The insured (Second Defendant) did not meet the policy’s notification requirements by failing to promptly inform the insurer (Third Defendant) of the incident and ensuing claim.
  • Those notification provisions were conditions precedent to cover, allowing the insurer to refuse indemnity due to the breach.
  • The prior judgment fixing the insured’s liability to the Claimant bound the insurer under the Third Parties (Rights Against Insurers) Act 2010.

See: [2025] EWHC 895 (KB).

Insurance types

Marine

A broker cautioned that the marine insurance market may incur losses if premium rates continue to soften while claims inflation climbs. See: Marine insurers cut premiums despite claims inflation...

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