AXA REINSURANCE (UK) PLC V FIELD

(1996) 5 Re LR 184

House of Lords

Before Lord MacKay of Clashfern LC, Lord Goff of Chieveley, Lord Mustill, Lord Slynn of Hadley and Lord Hoffmann

Reinsurance - Follow the settlements - Construction of clauses - Lloyd’s litigation - Errors and omissions - Claims refused by reinsurers - Definition of wording - Whether liability of reinsurers had been conclusively determined - True meaning of follow settlements clause, and definition of “each and every loss” - Whether reinsurers bound by decision as to number of claims.