BARON NAPIER AND ETTRICK RICHARDS BUTLER V R F KERSHAW LTD AND OTHERS

(1993) 2 Re LR 305

HOUSE OF LORDS

Before Lord Templeman, Lord Goff of Chieveley, Lord Jauncey of Tullichettle, Lord Browne-Wilkinson and Lord Slynn of Hadley

Subrogation - Stop loss - Indemnity - Recovery by assured from wrongdoer - Whether assured entitled to be indemnified against loss (excess) which he had agreed to bear - Whether insurer subrogated to rights of his assured has equitable proprietary right (lien) on recovery fund - Whether interest of insurer attached also to right of action vested in assured which, if enforced, would yield such fund.