LLOYDS TSB GENERAL INSURANCE HOLDINGS LTD AND ORS v LLOYDS BANK GROUP INSURANCE COMPANY LTD ABBEY NATIONAL PLC v LEE AND ORS

[2001] Lloyd's Rep PN 28

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Moore-Bick

Pension advisers - Personal pensions - Bankers’ Composite Insurance Policy - Lloyd’s Financial Institutions Professional Indemnity Policy - Deductible - Aggregation clause - Claims for persons mis-selling - Failure of pension advisers to give investors “Best Advice” in accordance with LAUTRO rules - Failure of management to provide advisers with training required to enable them to give “Best Advice” - Whether claims “resulted from” any single act or omission or a related series of acts or omissions - Whether failure to provide advisers with necessary training was the proximate cause of claims - Whether claims to be considered a single third party claim for the purposes of application of the deductible.