Powered by Lexis+®
Jurisdiction(s):
United Kingdom

Insurance and Reinsurance Weekly Briefing: Ukraine Aviation Claims, Cyberwar Exclusions, AI Fraud, FCA/PRA and Solvency II Updates, Key Cases and Dates – 26 September 2024

Published on: 26 September 2024

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

In this issue:

  • Ukraine conflict
  • Types of insurance
  • Market practice
  • Regulation
  • New and updated content
  • Case trackers
  • Key dates
  • Daily and weekly news alerts
  • LexTalk®Insurance: a Lexis®Nexis community

Ukraine conflict

Aviation claims

Two carriers maintain they have no liability for US$911m in claims concerning aircraft left in Russia, amid a broader wave of litigation worth £13bn that has reached the courts following the invasion of Ukraine. See News Analysis: Insurers deny liability for US$911m stranded aircraft claims.

Types of insurance

Cyber

The shifting cyber insurance landscape could face a major turning point if more providers pare back standard business IT breach cover to limit exposure to state-backed cyber attacks. See News Analysis: Insurers wrestle with ‘cyberwar’ policy exclusions.

Market practice

Insurance fraud — nearly one in five claim handlers now believe many fraudulent claims include falsified or altered supporting documents produced using artificial intelligence tools, a new report finds. See News Analysis: AI helping rise in UK insurance fraud, report shows — the Association of British Insurers recorded 84,400 fraudulent claims in 2023, surpassing the previous year by 11,800, with claims of ‘exaggerated...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Popular documents

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Read More Right Arrow

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Read More Right Arrow

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Read More Right Arrow

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...

Read More Right Arrow