UK - England & Wales
(1) When does the limitation period start to run for insurance
contract?
The 6 year limitation period starts to run from the date on
which the insured's cause of action has accrued. For property
insurance, that will be on the occurrence of the insured event. For
liability insurance, it is the date when the insured's
liability has been "ascertained" ie determined as a
precise sum payable by the insured. The existence and amount of the
insured's liability is ascertained by a court judgment,
arbitration award or settlement agreement.
(2) When does the limitation period start to run for
reinsurance contracts?
A number of court decisions over the years have established the
mainstream view that the reinsured's cause of action against
the reinsurer accrues when its own liability has been established
and quantified. There has also been some contrary caselaw, to the
effect that the reinsurer's liability arises at the same time
as the liability of
