United Insurance Company of Libya v Aon Ltd [2007] EWHC 1583 (Comm) (05 July 2007)

United Insurance Company of Libya v Aon Ltd [2007] EWHC 1583 (Comm) (05 July 2007)

UIC was not misled regarding the brokerage; the total commission was disclosed and UIC agreed to a 2.5% ceding commission. Aon acted on UIC's instructions in the GCCI placement. There was no concluded agreement between UIC and Aon for the 2005 NOC tender, so no breach of contract or fiduciary duty arose.

Citation
[2007] EWHC 1583 (Comm)
Parties
Claimant: United Insurance Company of Libya; Defendant: AON Ltd
Jurisdiction
England and Wales
Judgment Date
05 July 2007
Procedural Posture
Commercial Court Claim / Judgment After Trial
Outcome
All claims dismissed
Legal Topics
Breach of Contract, Fiduciary Duty, Brokerage Commission, Reinsurance, Misrepresentation
Commercial Law Insurance Law Contract Law Breach of Contract Fiduciary Duty Brokerage Commission Reinsurance Misrepresentation

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Parties

United Insurance Company of Libya

Claimant

AON Ltd

Defendant

Procedural Posture

Commercial Court Claim / Judgment After Trial

Legal Issues

  1. 1 Whether Aon misrepresented or concealed brokerage commission to UIC in the 2004 NOC placement and breached fiduciary duty
  2. 2 Whether Aon breached contract in the placement of the GCCI risk
  3. 3 Whether Aon breached contract or fiduciary duty in relation to the 2005 NOC tender

Ratio Decidendi

UIC was not misled regarding the brokerage; the total commission was disclosed and UIC agreed to a 2.5% ceding commission. Aon acted on UIC's instructions in the GCCI placement. There was no concluded agreement between UIC and Aon for the 2005 NOC tender, so no breach of contract or fiduciary duty arose.

Court Disposition

All claims dismissed