to policyholders which was wider than the insurers had anticipated, causing insurers large losses particularly in relation to asbestos and pollution. To meet the needs of corporate insurance buyers, new insurance companies were set up in Bermuda, notably ACE, XL, and Starr Excess Casualty. Each of these insurers produced its own standard-form policy (which has been revised and re-issued over the
asbestos and pollution. They also provide for multiple losses to be batched together into a single claim called an “Integrated Occurrence”: batching claims in this way can allow a policyholder to make claims which would otherwise have been barred by the policy deductible (for example, in mass product liability litigation, each claim individually migh
New York law (but sometimes the parties agree to change this to Bermudian or another governing law). To reduce the perceived risks of the American jury system, the policies usually provide for disputes to be resolved by arbitration, often in London, and for punitive damages to be excluded. Bermuda Form arbitrations are confidential and therefore rarely reported; the case of C v. D ([2007] EWHC 1541 (Comm)) is an example of a Bermuda Form arbitration which was the subject of an appeal.
