Keeping costs covered.
Insurers and brokers are no strangers to having to chase for payment, but several recent court cases have made money matters even more complicated.
Never a borrower or a lender be. One good reason for this is that itcan be difficult getting money back off people. Insurers are used to this
as they often have to pay a claim first and then face the task of
recovering from others the money paid out.
Take, for example, the recent litigation concerning the Piper Alpha
disaster - Caledonia North Sea Oil v London Bridge Engineering Ltd (2000).
Insurers of Caledonia North Sea Oil, the owners of the Piper Alpha oil
platform, had settled claims for
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