6/10/2014
START DATE
END DATE
6/25/2014
Mutual Holdings (Bermuda) Limited v. Matsen Insurance Brokers Inc
COURT:
LAW:
JUDGE(S):
CLAIMANT'S LAWYER:
DEFENDANT'S LAWYER:
Supreme Court of Bermuda
Commercial Law
IAN R.C.KAWALEY CJ
Ben Adamson
Mark Diel Katie Tornari
FACTS OF THE CASE:
The case revolves around indemnity obligations under a shareholder agreement linked to an insurance profit-sharing program focusing on whether certain losses including IBNR were covered. The dispute centered on the interpretation of dividend and indemnity provisions specifically whether payments under a commutation agreement were to be included in indemnity calculations
SUMMARY:
The interpretation of indemnity and dividend provisions the applicability of commutation payments to indemnity obligations
OUTCOMES:
Plaintiff's claim allowed defense and counterclaim dismissed
RULED IN FAVOUR OF:
Plaintiff/Claimant
PLAINTIFF/CLAIMANT
DEFENDANT:
DURATION (DAYS):
ISSUES:
RELEVANCE:
RULING:
RULING TYPE:
CASES CITED:
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Mutual Holdings (Bermuda) Limited v. Matsen Insurance Brokers Inc
The case revolves around indemnity obligations under a shareholder agreement linked to an insurance profit-sharing program focusing on whether certain losses including IBNR were covered. The dispute centered on the interpretation of dividend and indemnity provisions specifically whether payments under a commutation agreement were to be included in indemnity calculations