DIFC 002/2024
Lals Holdings Limited (and The Companies Identified In Schedules 1 To 3 Of The Claim Form) v (1) Emirates Insurance Company (PSC) (2) Siaci Insurance Brokers LLC
Type
Case
Court
Dubai International Financial Centre - Court of Appeal
Jurisdiction
Dubai International Financial Centre, United Arab Emirates
Taxonomy
Terms, Types of Contract, Insurance Claims & Payments, Insurance Contract
Decision date
2 Apr 2024
Catchwords
Contract - Business Interruption Insurance - COVID 19 - Closure Clause - Lost Attractive Cost - Overlapping Clauses
This case involved payments due under a business interruption insurance policy as a result of closures caused by COVID 19. Issues included the interpretation of the contract and circumstances in which provisions overlapped and were potentially in conflict.
Background
The LALS Group of Companies had alleged that its business interruption insurer, Emirates Insurance Company (PSC) (EIC) had wrongfully refused cover for business interruption losses arising out of the COVID-19 pandemic. In the alternative, they alleged that their insurance broker, SIACI Insurance Brokers LLC (SIACI) had failed to arrange suitable insurance and was in breach of its contractual and tortious duties.