22 Nov 1988
INSURANCE CO OF THE STATE OF PENNSYLVANIA v. GRAND UNION INSURANCE CO LTD AND ANOTHER
- Citation
- INSURANCE CO OF THE STATE OF PENNSYLVANIA v. GRAND UNION INSURANCE CO LTD AND ANOTHER
- Court
- Court of First Instance
- Case number
- HCCL69/1986
The Court held ICSP entitled to indemnity under the retrocession slips: the broker presented the disputed documents and Grand Union was aware it was retrocession; the written lines on the slips meant the stated percentages of the slip limits (not percentages of ICSP's later-subscribed lines); the term "renovation" covered the works performed; under a follow the settlements clause reinsurers must indemnify settlements that fall within the reinsurance and that were made honestly and in a proper and businesslike manner and the burden to displace indemnity lies on the reinsurer; Grand Union faile…