[2006] EWHC 2716, [2006] EWHC 2885 (Commercial Court, Clarke J.)

Gavin Kealey QC led Andrew Wales for the insureds in claim under professional indemnity insurance.

Insurance (liability) – Global excess policy issued to Canadian parent company and worldwide subsidiaries – English subsidiary incurring losses following review of sale of investment contracts ordered by Financial Services Authority – Whether English or Ontario law applied to policy – Whether assured in breach of warranty as to knowledge of circumstances which could give rise to liability – Whether assured in breach of obligation to notify claims as soon as practicable – Quantum.