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UK Court interprets loss notification provision of reinsurance agreement

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A Justice of the Queen's Bench Division of the UK Commercial Court has interpreted a loss notification provision of a reinsurance agreement to permit the reinsured to recover under the agreement. The analysis used by the Court is similar in some respects to how courts in the United States interpret insurance policies. AIG Europe (Ireland) Limited v. Faraday Capital Limited, [2006] EWHC 2707 (Comm) (Oct. 31, 2006).