Insurance
Case studies
ZAR1.7 billion claim involving 19 parties worldwide
We acted for five South African and 14 overseas reinsurers in respect of a ZAR1.7 billion claim arising from a furnace explosion. The claim related to both property damage and business interruption, and is one of the largest of its kind ever in South Africa. The logistics of dealing with this matter were unique: the number of reinsurers at various national and international locations and the exceptionally large monetary amount involved. Our video conferencing facilities enabled us to link up with our clients around the world and resolve the matter expertly and efficiently.
Assisting Lloyd’s with pension fund fraud claim
We acted for underwriters at Lloyd's as well as a South African insurer in respect of pension fund fraud claims that were not only large in monetary amounts, but also very complicated, both from a factual and legal perspective. We were able to deal expertly and effectively with those matters because our good relationships and contacts with the prosecuting authorities, the police services and the Financial Services Board.
Theft of high value cargo at Johannesburg airport
We recently advised reinsurers on coverage and liability issues in respect of a substantial claim concerning the theft of high value cargo at the (then) Johannesburg International Airport. Notwithstanding the fact that one of the perpetrators confessed to his involvement in the heist, the police were unable secure a conviction and as a result underwriters were at risk. The case highlighted the importance for underwriters to become involved at an early stage in the investigation of the incident and any possible claim. During the course of the hearing various issues relating to aviation law, principles of contract and the law of evidence were raised. Based on our investigations and advice underwriters were able to reject the claim and save millions.
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E-mail Tony Canny