RSA, Mitsui, Argo, Novae, Chaucer and Liberty all included in the writ issued at the High Court
Seven insurers are being sued by an energy consultancy firm for more than £3m.
Energy consultancy firm AEA Technology claims that the insurers had agreed to indemnify them for sums paid out to an electronics and power company called ABSL Power Solutions Ltd.
AEA Technology paid out £3.26m to ABSL.
In a High Court writ, AEA Technology says it is suing seven insurers for failing to pay out.
The defendants are listed as Royal & Sun Alliance Insurance plc; Mitsui Sumitomo Insurance Underwriting at Lloyd’s Syndicate 3210; Argo Managing Agency Ltd’s Lloyd’s Syndicates 3245 and 1200; Novae Syndicates Ltd’s Lloyd’s Syndicates 1007 and 2007; Liberty Mutual Insurance Europe Ltd (UK) trading as Liberty International Underwriters; Ace European Group Ltd and Chaucer Syndicates Ltd’s Lloyd’s Syndicate 3245.
AEA Technology and its holding company AEAT Holdings Ltd want the insurer to pay not only the £3.26m, but also costs relating to the claim.
The claimants’ solicitor is Linklaters LLP and the defendants are being represented by Kennedys.
No defence papers have been filed and no comment had been received from the defendants’ solicitor by press time.
No settlement has been reached in the case, according to the claimants’ solicitor.
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