Insurer Fights Developer's £3M Suit Over Insolvent Contractor

By (April 26, 2022, 6:22 PM BST) -- An insurer has argued it should not have to indemnify a property developer because it has not proved it actually lost £3.3 million ($4.2 million) after a contractor working on developing 400 flats in a London suburb fell into administration.

QBE UK Ltd. said in a High Court defense filed on April 19, which has just been made public, that Croydon Investments Ltd. is required to prove that it suffered the alleged losses.

"It is denied QBE has acted in breach of contract when CIL has refused to provide explanations and substantiations as to the sum claimed," the defense says....

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