December 2005/3

Peter Hardy is to retire from his position of chairman at Hardy Underwriting – the company he founded in 1978. Hardy will be replaced by David Mann.

A panel of High Court judges has thrown out an appeal by reinsurers against Justice Morison’s 21 December 2004 judgement in favour of claimant reinsureds and defendant brokers on all points in the notorious Aon 77 dispute.

The blaze ripping through a UK oil depot could cost insurers up to $900mn according to industry sources. The fire, at the Buncefield depot, 25 miles north of London, followed a series of blasts, which began early on Sunday (11 December)...