The Supreme Court decided in FHR European Ventures v Cedar Capital that a bribe or secret commission accepted by an agent is held on trust for his principal.

On 27 June 2014, the High Court of Justice of England and Wales sanctioned the solvent scheme of arrangement made by J.K. Buckenham Limited and its Scheme Creditors pursuant to Part 26 of the Companies Act 2006 which was voted on and approved by the Scheme Creditors during the meeting held on 4 June 2014

Welcome to the fourth e-edition of the Edwards Wildman Insurance and Reinsurance Review.

Following agreement by both Houses of Parliament, the Mesothelioma Bill received Royal Assent on 30 January 2014, becoming the Mesothelioma Act 2014.

As part of their ongoing law reform project, the Law Commission and Scottish Law Commission have published a number of draft clauses relating to the Insurance Contracts Bill as part of a limited consultation.

A defence raised by Novae that the underlying settlement was entered into without the insured having taken all businesslike steps had no reasonable prospect of success.

We have previously reported on the Law Commission and Scottish Law Commissions’ (the Commissions) review of insurance contract law.

The Insurance Bill, introduced to Parliament on 17 July 2014, contains the latest proposals to revise the law in this area.

In KAIROS SHIPPING LTD & STANDARD CLUB LTD V ENKA & CO LLC & ORS, Karios sought a declaration that it was entitled to constitute a limitation fund.

Edwards Wildman have been instructed to act for J.K. Buckenham Limited in relation to a scheme of arrangement which is the first of its kind.

In Saville v Central Capital Limited [2014] EWCA Civ 337, the Court of Appeal upheld an appeal brought by a couple provided with insufficient payment protection insurance (PPI) sold in breach of the Insurance Conduct of Business Rules (the ICOB Rules).

The Court of Appeal has handed down a landmark decision on the recoverability of consequential losses under s2(1) of the Riot (Damages) Act 1886.

The Financial Conduct Authority has fined HomeServe Membership Limited £30,647,400 for breaching several of the FCA’s Principles of Business.

The Financial Conduct Authority published the results of its market study into general insurance ‘add-on’ products.

In late January 2014, Brazil applied for Solvency II equivalence for its insurance solvency regime.

The UK’s Financial Conduct Authority (FCA) has indicated that it is likely to exercise its competition functions in the insurance sector in the next few months, including by examining retirement annuities and insurance add-ons.

The Association of British Insurers (ABI) has published guidance on the significance and potential implications of the Financial Conduct Authority’s (FCA) remit to promote effective competition and, from April 2015, enforce competition law under the Competition Act 1998.

In the case of Mr Figurasin, Mrs Palo-Figurasin v Central Capital and Paragon Personal Finance, the Court of Appeal dismissed Central Capital’s appeal.

In Robin & Barbara Bache and others v Zurich Insurance Plc [2014] EWHC 2430 (TCC), the court was asked to determine a preliminary issue concerning interpretation of a property development policy.

On 30 January 2014, EIOPA published its report on good practices for comparison websites, in response to EIOPA’s consultation on this topic.