Underwriter's right to inspect - custom or practice?
A recent court decision has cast doubts over the rights of the underwriter when it comes to requesting copies of documentation from brokers, particularly if it has already been inspected, a practice that brokers claim requires the consent of their clients
Traditionally, underwriters have not kept copies of documentation that they have been shown by brokers. Underwriters have relied on the notion that they can ask the broker to produce his file, as and when it may become necessary.
The recent decision of Goshawk Dedicated v. Tyser (2005) scrutinised this London Market 'custom'. The court was asked to decide whether a broker is obliged - and, if so, to what extent - to allow underwriters to inspect and copy categories of documents, some of which the
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