Subrogated recoveries and a reminder of the Napier principles
Court of Appeal's decision in Textainer case serves as a reminder the principles of subrogation, as established in Napier – more than 30 years ago – will still prevail as a matter of common law
A recent Court of Appeal judgment affirms the longstanding ‘top-down’ approach applied to the distribution of monies among excess layer insurers, which have been recovered as part of a subrogated action