Goshawk Dedicated Ltd & Ors v Tyser & Co Ltd & Anor

Goshawk Dedicated Ltd & Ors v Tyser & Co Ltd & Anor

There is no implied contract or binding custom entitling underwriters to access brokers' placing and claims documents prior to the TOBA. After the TOBA, the right of access to documents is subject to the broker's overriding duty to act in the interests of his client (clause 2.2), which may, on genuine grounds, justify refusal of access. The obligation to provide premium accounting documents under clause 8.1.1 is not limited to documents 'crossing the line' but is also subject to clause 2.2. The Syndicates are not entitled to the documents as of right if the broker has genuine grounds to believe disclosure is against the client's interests.

Parties
Claimant: Goshawk Dedicated Limited; Claimant: Goshawk Dedicated (No. 2) Limited; Defendant: Tyser & Co Limited; Defendant: Tyser Special Risks Limited
Jurisdiction
England and Wales
Judgment Date
23 March 2005
Procedural Posture
Commercial / Judgment
Outcome
Questions of principle determined; specific orders deferred pending further submissions.
Legal Topics
Broker's Duty of Confidentiality, Access to Records, Custom and Practice in Lloyd's Market, Terms of Business Agreements (toba), Disclosure Obligations
Insurance Law Contract Law Broker's Duty of Confidentiality Access to Records Custom and Practice in Lloyd's Market Terms of Business Agreements (toba) Disclosure Obligations

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Parties

Goshawk Dedicated Limited

Claimant

Goshawk Dedicated (No. 2) Limited

Claimant

Tyser & Co Limited

Defendant

Tyser Special Risks Limited

Defendant

Procedural Posture

Commercial / Judgment

Legal Issues

  1. 1 Whether brokers are obliged to allow underwriters access to placing, claims, and premium accounting documents
  2. 2 Whether such obligation arises by implied contract, custom, or express agreement (TOBA)
  3. 3 Extent of brokers' duty of confidentiality to clients versus obligations to underwriters

Ratio Decidendi

There is no implied contract or binding custom entitling underwriters to access brokers' placing and claims documents prior to the TOBA. After the TOBA, the right of access to documents is subject to the broker's overriding duty to act in the interests of his client (clause 2.2), which may, on genuine grounds, justify refusal of access. The obligation to provide premium accounting documents under clause 8.1.1 is not limited to documents 'crossing the line' but is also subject to clause 2.2. The Syndicates are not entitled to the documents as of right if the broker has genuine grounds to believe disclosure is against the client's interests.

Court Disposition

Questions of principle determined; specific orders deferred pending further submissions.