Name
Case study presentation: LEG3 reform & Sky v Riverstone court ruling – market moving legal developments
Description

One of the stand out legal sessions from the 2024 conference was the case study of the LEG3 court decision in the case of South Capitol Bridgebuilders v Lexington Insurance Company and what the implications of the court ruling for the CAR market are.  This year we will take a further look at the court decision and explain proposals for reform of the existing London Engineering Group (LEG) clauses, an exclusion for damage arising from defects in materials workmanship design plan and specification, and how it could be amended to preserve the general market understanding of their meaning.

The session will also be one of the first public assessments of the recent Court of Appeal decision in the Sky v Riverstone case related to the scope and period of cover of a "third party co-insured" under the policy, as well as the interpretation of the applicable deductibles and the meaning of "physical damage”.

 

Time
10:00 AM - 10:30 AM