In 2004, Aon (a London broker) placed reinsurance for risks that United Insurance Company (a Libyan insurance company) assumed in insuring assets of a Libyan state-owned oil company. Aon also obtained reinsurance for United in relation to a Libyan company in the chemicals industry. Aon placed the business in the London market. After renewing the business in 2005, United brought three claims against Aon. United sought to recover brokerage fees paid to Aon on the basis that Aon misrepresented the nature of cover, commissions, and fees. United was unsuccessful on all of its claims. The Commercial Court found that United’s evidence did not match the relevant contemporary documents and was contradicted by Aon’s evidence. United Insurance Co of Libya v. Aon Ltd., [2007] EWHC 1583 (Comm. July 5, 2007). This opinion is not on the UK Court site, but is available on WESTLAW at 2007 WL 1942745.
This post written by Lynn Hawkins.