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Contract Terms United Kingdom Insurance Industry

Mayer Brown

The PRA's Letter to Chief Risk Officers on Solvency-triggered Termination Rights

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The Prudential Regulation Authority ("PRA") has issued a letter, dated 4 July 2025, to Chief Risk Officers of life insurers active in the bulk purchase annuity ("BPA") market. The letter focusses on the use of so-called...more

Hogan Lovells

UK VAT on insurance intermediary services – exemption expanded?

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The Court of Appeal (CA) in WTGIL Ltd v HMRC [2025] EWCA Civ 399 considered the scope of the VAT exemption for services supplied by insurance intermediaries. The case concerned motor insurance for young drivers which required...more

Mayer Brown

English Court Rules on Conflicting Jurisdiction and Arbitration Clauses

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The English Commercial Court has handed down an important decision highlighting the approach adopted by the English court when there are competing jurisdiction and arbitration clauses (“Competing Clauses”) and the effect of a...more

BCLP

UK Insurers Should Begin to Comply with New PRA Mandatory Contractual Requirements for Material Outsourcings

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The PRA’s supervisory statement on outsourcing arrangements and managing third party risk requires insurers to take action now, to ensure that outsourcing agreements which are currently being negotiated comply with the new...more

BCLP

English Arbitration Clause Trumps Washington Court Service of Suit: Catlin Syndicate Ltd v Weyerhaeuser Company

BCLP on

Catlin (“C”) insured Weyerhaeuser (“W”) who are a timber business on the fourth layer of an excess-of-loss insurance policy. W issued Court proceedings in Washington State seeking a declaration that the Washington District...more

Hogan Lovells

Spot the defect

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A County Court decision has examined whether a deed which failed for invalid execution can survive as a simple agreement and whether, when that defect is apparent on the face of the deed, a party seeking to rely on that deed...more

Hogan Lovells

UK: Wood v Capita Insurance Services Limited

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Be aware of drafting (or seeking to interpret) a contractual indemnity provision in isolation. Appreciating the wider contractual context will avoid surprises. The Supreme Court has held that the indemnity clause in an...more

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