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Legal Briefing
When does a loss trigger an indemnity under a contract of insurance?
Practice Area: Regulation and Insurance
Sector: Insurance
Jurisdiction: Global
Published: 23 February 2011
Law Firm: Herbert Smith
Overview
In Teal Assurance Co Ltd v W R Berkley Insurance (Europe) Ltd and Aspen Insurance UK Ltd [2011] the Commercial Court confirmed the general approach that losses trigger cover in the order of date of loss for property insurance and in the order in which they are ascertained by judgment, arbitral award or settlement in the context of liability insurance.
Herbert Smith discusses the key factors of the case.
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