SCHER AND OTHERS V POLICYHOLDERS PROTECTION BOARD AND OTHERS (No 2) ACKMAN AND OTHERS V POLICYHOLDERS PROTECTION BOARD AND OTHERS (No 2)

(1994) 3 Re LR 31

House of Lords

Before Lord Templeman, Lord Griffiths, Lord Ackner, Lord Goff of Chieveley and Lord Mustill

Insolvency - Insurance - Professional indemnity - Professional liability insurance taken out by overseas assureds including corporate partners - Policies subscribed by authorised United Kingdom insurers - Insurers becoming insolvent - Application by assureds to Policyholders Protection Board - Whether partnership with corporate partners qualifying as “partnership... all of whom are individuals” - Whether person not legal holder of policy but with contingent claim qualifying as “policyholder” by becoming “person to whom... sum is due” on liquidation - Whether qualifying if claim later ceasing to be contingent - Policyholders Protection Act 1975 (c 75), sections 6(7)(b), 8(2) - Insurance Companies Act 1982 (c 50), section 96(1).