[2004] 1 All ER (Comm) 1

Tim Kenefick – Negligence – Duty to take care – Existence of duty – Bank – Claimant underwriters authorising agent to underwrite insurance on their behalf – Authority requiring operation of separate client account – Bank issuing letter describing account as ‘client account’ – Bank and agent entering into ‘sweeper’ arrangement whereby funds transferred from ‘client account’ to general account – Whether bank owing duty of care to claimant underwriters – Whether bank acting negligently – Whether claimants acting in reliance on letter when renewing contractual relationship with agent.