LEXINGTON INSURANCE CO AND OTHERS v MULTINACIONAL DE SEGUROS SA

[2009] Lloyd's Rep IR 1

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr Justice Christopher Clarke

Reinsurance - Claims cooperation clause expressed to be condition precedent - Reinsurers denying liability for breach of condition but continuing to negotiate with reinsured - Whether reinsured subsequently in breach of condition by waiving a time bar defence against the assured - Authority of reinsured’s agent - Whether reinsurers had waived compliance with the claims condition.