16 Jun 1989
INSURANCE CO OF THE STATE OF PENNSYLVANIA v. GRAND UNION INSURANCE CO AND ANOTHER
- Citation
- INSURANCE CO OF THE STATE OF PENNSYLVANIA v. GRAND UNION INSURANCE CO AND ANOTHER
- Court
- Court of Appeal
- Case number
- CACV8/1989
The slips must be construed in the factual matrix of London market practice using market evidence; slip C on its face (and in market practice) represented a percentage of 100% of the limits stated (one‑third up to FF7.5m) making Grand Union liable on the retrocession; market evidence was admissible; under the follow settlements clause the reinsurer bears the onus of proving a settlement was outside the reinsurance or that the insurer did not act honestly or take proper businesslike steps.