PROPERTY
Our capabilities
Whether arising from storm, flood, fire or explosion, Ince & Co's lawyers are expert at resolving property insurance and reinsurance claims. We are frequently instructed on the largest, most complex and commercially sensitive disputes. By their very nature, many have an international angle and our network of offices throughout Europe and the MENA and Asia-Pacific regions allows us to advise on a multi-jurisdictional basis.
Claims arising from the physical loss of property following a major incident are often dwarfed by those arising from the loss of income that ensues as a consequence. We have for many years advised on the complex area of business interruption, including assisting one of the world's leading mining and natural resources groups and their captive insurance companies in effecting recoveries.
One issue that regularly occurs in property insurance claims work is fraud. Ince & Co is one of the most widely experienced commercial fraud litigation firms in London and we have the knowledge which is vital to the informed handling of fraud in this market specific context. Subrogation issues also arise and we frequently advise and represent clients in subrogated recovery actions.
Recent experience (UK)
- Providing a policyholder with advice in respect of seeking indemnity from insurers in relation to multi-million pound losses caused by a fire at a listed building.
- Advising the London market and overseas liability excess of loss insurers of one of the major oil venturers behind the Buncefield Oil Dept in respect of the 2005 explosions.
- Advising insurers in respect of a £10 million claim following the explosion of a plastics factory in Derbyshire.The issues in the case concerned insurable interest, the failure by the assured properly to estimate the grossed profit declaration (in a declaration linked policy) and also the assured's proposals for reinstatement.
- Advising insurers in respect of the destruction of a castle in Scotland, which was principally used as a wedding venue.We were instructed to replace solicitors who had advised insurers to avoid the policy and thereafter proposed a horse trade to achieve a settlement.Such strategy did not work and we were instructed in their place.We identified early on that there was a sensible course of recovery against the third party which had caused the explosion and by co-operating with our clients' assured (on a without prejudice basis), we were able to successfully assist the assured in pursuing a recovery against the third party rather than focusing on the assured's claim against insurers. The end result was that insurers did not make any payment under the policy as the assured's loss was recovered in full from the third party.
- Advising insurers in respect of numerous claims arising from the arson and/or damage of various Baptist churches in Wales.The issues concerned various breaches of warranty by the assured.
- Advising insurers in respect of the deliberate fire of a property due to be converted to a large supermarket.The claim was denied on the grounds of breach of warranty, namely that the premises were warranted to be free of all loose combustible materials.
Recent experience (international)
- Pursuing a successful claim for a captive insurer in connection with a £200+ million property and business interruption loss in Chile.
- Advising a Lloyd's syndicate on its liability to indemnify its reinsured in respect of property claims arising from losses incurred as a result of the Mumbai floods of 2005.
- Advising reinsurers on a claim arising from the 2008 Queensland floods.The claim is made by a mine operator which is claiming over A$600 million in respect of property damage and business interruption at their mine following the 2008 floods.The claim is being denied due to alleged non-disclosures regarding the flood mitigation measures taken by the assured and is currently in litigation in Australia.We are advising reinsurers with respect to their participation in this risk.