YASUDA FIRE & MARINE INSURANCE CO OF EUROPE LTD V ORION MARINE INSURANCE UNDERWRITING AGENCY LTD AND ANOTHER

The Defendants, two associated companies, acted as underwriting agents for the Plaintiff under various underwriting agency agreements. The agreements were terminated and ceased to operate for further underwriting at the end of 1991, but the Defendants were authorised to continue to manage the run‐off in relation to risks written on behalf of the Plaintiff. Each of the agreements, by cl. 4.2, contained an express provision whereby the Plaintiff was entitled to inspect and take extracts from or make copies of ‘all necessary books, accounts, records and other documentation’ appertaining to the insurance business transacted on the Plaintiffs behalf, although the records were to be the property of the Defendants.