Update on the FCA Judgment on Business Interruption lockdown claims

Danny Joffe, Publications

The highly publicised legal dispute between British insured and the Financial Conduct Authority concerning whether insurers will be forced to indemnify policyholders for business interruption losses suffered as a result of the various government-imposed lockdowns has now finally been settled by the UK Supreme Court. They upheld the original judgment of the UK high court […]

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Claims and Market Summary for Africa and Asia

Ed Gooda, Publications

We have prepared a report detailing recent events in Africa and Asia which may be of interest.

Heavy rainfall led to extensive damage and humanitarian impacts across Somalia during the second half of June through July. Four people were killed. Among the hardest-hit areas came in the Shabelle River basin as nearly 200,000…

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Case Study of Maritime Residual Value Guarantee

Douglas Newton, Publications, Russell Parker

In June 2020, Klapton concluded the issuance of a Residual Value Guarantee Cover Note to a privately held ship owning entity. This briefing paper explains the bespoke nature of how the Cover was structured and has been drawn up as a means of assisting our partners, customers and readership in the understanding of the RVG product and its application in real asset investment proposals.

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Shany Medina appointed Chairman of the Ethics, Nominations and Remuneration Committee (ENR)

Announcements, Shay Reches

The board of Klapton Insurance Company Ltd is delighted to announce the appointment of Shany Medina as Chairman of the Ethics, Nominations and Remuneration Committee (ENR) with immediate effect. Shany is an experienced Talent acquisition leader with more than 15 years in developing and leading innovative talent acquisition teams. During her career, she has worked […]

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Business Interruption claims as a result of Covid 19 lockdowns in South Africa

Danny Joffe, Publications

Major court decisions underway in South Africa, Australia, and the United Kingdom Business Interruption is a section in a commercial policy (either standard commercial, assets, hospitality, or agriculture policies) that covers loss of profits or increased cost of working for a company as a result of an interruption caused to their business. Normally the interruption […]

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Klapton approves 2019 Financial Statements

Announcements, Rob Bygrave

Rob Bygrave, the CFO of Klapton announced that that the 2019 Financial Statements have been approved by the Board. For the third consecutive year, SECC, a leading West African audit firm have issued a clean audit report in respect of these Financial Statements. Mr Bygrave stated that these Financial Statements reflect a significant, but expected […]

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Klapton Insurance Company Ltd Issues Maritime Residual Value Policy

Announcements, Douglas Newton, Russell Parker

Klapton is pleased to announce the issuance of a new policy related to the maritime industry following the closing of a Residual Value Guarantee in favour of Sevenseas Holdings Inc. The company has been working closely with Sevenseas’ management for a number of months in crafting a bespoke policy and guarantee that protects the company’s […]

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