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Lloyd's names fail in claim against government based on failure to implement insurance directive

Lloyd's names fail in claim against government based on failure to implement insurance directive Purpose – The purpose of this paper is to report and comment on the Court of Appeal, Poole and Others v. HM Treasury . Design/methodology/approach – The paper outlines the facts surrounding the case and comments on the ruling. Findings – Lord Justice Buxton gave the only judgment in this appeal, with which his fellow judges concurred, and he confirmed that the lower Court was right to dismiss the appellants' claim based on their interpretation of the 1973 insurance directive and the effect of the European Court of Justice decision in Francovich . Originality/value – The Court of Appeal, in this decision, confirms that the principles of European law surrounding state liability are unlikely to be of much help to those who suffer such losses and see them partly as a result of state or regulatory failure. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Regulation and Compliance Emerald Publishing

Lloyd's names fail in claim against government based on failure to implement insurance directive

Journal of Financial Regulation and Compliance , Volume 16 (2): 4 – May 9, 2008

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Publisher
Emerald Publishing
Copyright
Copyright © 2008 Emerald Group Publishing Limited. All rights reserved.
ISSN
1358-1988
DOI
10.1108/13581980810869823
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to report and comment on the Court of Appeal, Poole and Others v. HM Treasury . Design/methodology/approach – The paper outlines the facts surrounding the case and comments on the ruling. Findings – Lord Justice Buxton gave the only judgment in this appeal, with which his fellow judges concurred, and he confirmed that the lower Court was right to dismiss the appellants' claim based on their interpretation of the 1973 insurance directive and the effect of the European Court of Justice decision in Francovich . Originality/value – The Court of Appeal, in this decision, confirms that the principles of European law surrounding state liability are unlikely to be of much help to those who suffer such losses and see them partly as a result of state or regulatory failure.

Journal

Journal of Financial Regulation and ComplianceEmerald Publishing

Published: May 9, 2008

Keywords: Legal decisions; Insurance; Underwriting

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