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KPMG/ARC Run-Off Survey reports significant contraction in the size of the UK non-life run-off market..

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Appealable judgment

In Hartford Acc. & Ind. Co. -v- Ace American Reinsurance Co, the Connecticut Supreme Court declared that a trial court’s order denying Hartford’s motion to compel various reinsurers to post pre-pleading security pursuant to General Statue Section 38(a)-27(a) is an appealable final judgment.

Despite the interlocutory nature of the trial court’s order, the Supreme Court held that an immediate appeal should be permitted since the failure to do so could cause Hartford to lose rights already secured and that would be irretrievably lost given the risk of a default judgment that these unauthorised insurers might not be able to satisfy. Source: Morrison Mahoney

This News item appeared in issue 109 of JTW News - October 2006
 
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