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UK has seized jurisdiction over U.S. in important Faraday insurance case, says lawyer

Nov 15 2012 Alex Davidson, Regulatory Intelligence

The UK has seized jurisdiction over the United States in an important insurance case which has cast doubt over whether the two countries will ever agree, an insurance lawyer has said. There have been several cases which have raised uncertainties, and it now seems that that the UK courts are "spoiling for a fight" with the United States, according to Neil Owen, a partner at Berwin Leighton Paisner (BLP), who was speaking at a BLP reinsurance law "update" seminar and later discussed the issues with further Compliance Complete in a telephone interview. Owen, a former London market life reinsurance underwriter, told delegates that Faraday Reinsurance Co Ltd v Howden North America Inc was one of several recent cases which had suggested that the UK, as a jurisdiction, would not allow the United States to dictate the law to it. In this case, the English court had permitted proceedings in England to continue, even though a U.S. action was in progress. "The English court has effectively

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