The Court of Appeal has now delivered the eagerly awaited judgment in the case of Goshawk Dedicated Ltd and Others v. Tyser & Co Ltd and Another [2005] EWHC 461 (Comm). The Lloyd’s Syndicate underwriters ("the Syndicates") had appealed the High Court decision that the defendant brokers ("the Brokers") had no obligation to produce to a Lloyd’s Syndicate placing and claims documents that had previously been produced to underwriters, but which the broker retained. The Court had also ruled that there was only a limited obligation to produce accounting documents for inspection.
In unanimously reversing the High Court decision, and upholding the Claimant Syndicates’ appeal, the Court of Appeal have now ruled authoritively that in the Lloyd’s market there has at all relevant times been a term implied in the insurance contracts between underwriters and insureds to this effect: that placing and claims documents which have been previously shown to underwriters, and premium accounting documents
