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The
first instance decision of this case was included in our update in July
2004 (now available from the archive or by clicking
here). This was the appeal by the reinsured King, from that decision
of Colman J, that the reinsureds were not entitled to be indemnified
following settlement without the protection of a full follow the settlements
clause.
The appeal
was dimissed. The Appeal Judges , whilst having some doubt on the conclusion
of the Judge at first instance on the proper construction of the seepage
and pollution exclusion in certain of the outward retrocessions, nevertheless
concluded that this made no difference and as clean-up costs were not
covered on the true construction of the underlying policy, the reinsured
could not recover.
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