Reinsurance

Event limits

The perennial problem of defining an ‘event’ or ‘occurrence’ for the purpose of determining how many deductibles are to be borne by an assured or reinsured, or for the purpose of calculating the maximum aggregate sum recoverable under a policy, has yet again arisen for consideration in the English courts, before Langley J in Scott v Copenhagen Reinsurance Co (UK) Ltd [2002] EWHC 1348 (Comm), forthcoming in [2002] Lloyd’s Rep IR. The case arises from the invasion of Kuwait by Iraq in 1990, and is the latest in a long line of insurance and reinsurance disputes flowing from that action.