The following Insurance & Reinsurance news provides comprehensive and up to date legal information on Insurance & Reinsurance weekly highlights—17 April 2025
Insurable interestThis Practice Note considers insurable interest, including insurable interest in construction and liability insurance. It also...
The functions and duties of insurance brokers—policy placementThis Practice Note provides a high level introduction to the functions and duties of...
Public liability insurance—essentialsPublic liability insurancePublic liability insurance is a form of liability insurance that indemnifies a...
Double insurance and contributionOverlapping insurance policesThere are various reasons why an insured may end up with overlapping insurance cover,...
Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of
Micklefield clausesWhat is a Micklefield clause?It is common for employee share plans to provide that, on termination of employment (or when an employee is given or receives notice of termination of employment), subsisting share awards will be forfeited and subsisting share options will lapse.It is
What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid
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