LEXINGTON INSURANCE CO AND OTHERS v MULTINACIONAL DE SEGUROS SA
[2008] Lloyd's Rep IR Plus 34
QUEEN’S BENCH DIVISION (COMMERCIAL COURT)
Before Mr Justice Christopher Clarke
Reinsurance – Claims cooperation clause expressed to be
condition precedent – Reinsurers denying liability for breach of condition but
continuing to negotiate with reinsured – Whether reinsured subsequently in
breach of condition by waiving a time bar defence against the assured –
Authority of reinsured’s agent – Whether reinsurers
had waived compliance with the claims condition.