RATHBONE BROTHERS PLC AND ANOTHER v NOVAE CORPORATE UNDERWRITING LTD AND OTHERS

[2015] Lloyd's Rep. IR 095

COURT OF APPEAL

Before Lord Justice ELIAS,Lord Justice BEATSON,Lady Justice SHARP

Insurance (professional indemnity) – Policy taken out by solicitors for benefit of employees  – Whether policy provided coverage for activities of employee as personal trustee – Whether policy was in excess of other insurances – Subrogation – Solicitors providing indemnity to employee – Whether indemnity available only after insurance coverage exhausted – Whether policy impliedly waived subrogation rights.