March 20, 2012

High Court decision on the recovery of “mitigation costs” under Professional Indemnity Insurance Policies

Standard Life Assurance Ltd v ACE European Group [2012] EWHC 104 (Comm)

The Claimant owned an investment fund containing a substantial proportion of asset-backed securities. Following the collapse of Lehman Brothers in 2008, the asset-backed securities became increasingly illiquid, making their valuation more and more subjective. (more…)