The Bermuda Form: Interpretation and Dispute Resolution of Excess Liability Insurance

by David Scorey, Richard Geddes, Chris Harris

Overview

Providing analysis and interpretation on the construction of the Bermuda Form, this second edition also addresses the dispute resolution process and covers the legal and practical issues which arise in the international arbitration of large and complex disputes under it.

The work has been thoroughly revised to take into account the major changes in the governing New York law since the first edition, as well as significant English case law such as AstraZeneca v ACE & XL. This case has had major implications for the interpretation of issues such as the recoverability of defence costs, assertion and proof of legal liability. The resulting trend towards brokers and insurers drafting endorsements intended to clarify intent, and the nature and efficacy of these endorsements, are also analysed in this edition. The implications for policyholders and insurers of the ACE Insurance Form 007 are also discussed at length.

Providing valuable analysis of disputes involving the Bermuda Form, particularly concerning arbitrations, this work gives access to an otherwise closed arena and is an indispensible guide even for experienced practitioners in this field.

Product Details

ISBN-13:	9780198754404
Publisher:	Oxford University Press
Publication date:	04/09/2018
Edition description:	2nd ed.
Pages:	584
Product dimensions:	6.80(w) x 9.80(h) x 1.40(d)

About the Author

David Scorey, Barrister, Essex Court Chambers,Richard Geddes, Partner, Sedgwick LLP,Chris Harris, Partner, Clyde & Co LLP

David Scorey is a member of Essex Court chambers and has a wide-ranging practice in international and domestic commercial law, litigating in both domestic courts and tribunals in addition to international arbitrations. He has acted in a wide variety of commercial disputes including insurance and reinsurance, particularly in respect of high level excess liability insurance on the Bermuda Form.

Richard Geddes is a Partner at Sedgwick LLP and co-chair of the firm's International Counseling and Arbitration Practice Group. He practices primarily in the areas of Insurance and Reinsurance counselling, litigation and arbitration and has extensive experience in coverage analysis, policy drafting, and claims management involving a wide variety of coverages.

Chris Harris is a litigation Partner at Clyde & Co with extensive commercial, insurance, and reinsurance experience. He acts for major London, European, US and Bermudian insurers and his practice involves litigation and arbitration work.

Table of Contents

Part I: The Bermuda Market and Form1. Introduction to the Bermuda Market2. Introduction to the Bermuda FormPart II: The Bermuda Form in Detail3. Conflict of Law Issues: Substantive Issues vs Procedural Issues4. Law of Construction and Interpretation Clause5. The Coverage Clause6. The Occurrence Reported Trigger7. Occurrence Definition8. Integration and Aggregation9. Requirement of Notice of Claim10. Attachment Point, Underlying Coverage and Limits of Liability11. Exclusions from Coverage12. Conditions under the Bermuda Form13. Misrepresentation and Non-Disclosure14. Waiver / Estoppel15. Use of the Bermuda Form for ReinsurancePart III: Dispute Resolution Under the Bermuda Form16. The Arbitration Agreement17. Team Assembly18. Commencement of the Arbitration19. Pre-hearing Activities20. Preparation for and Conduct of the Hearing21. Awards22. Interests and Costs23. Challenges and Enforcement24. The Arbitrators' Ethical DutiesAppendicesAppendix. Policy Form Exmplar