Sir Richard Jacobs is a judge in the Queen’s Bench Division of the English High Court, where he spends most of his time on commercial cases in the Commercial Court.Lorelie S Masters is a Partner at Hunton & Williams LLP in Washington, DC, USA, where she advises and represents policyholders in insurance coverage and litigation. Paul Stanley KC is a barrister at Essex Court Chambers, UK, specialising in commercial law, including insurance and arbitration law.

• 1. THE LEGAL AND ECONOMIC ORIGINS OF THE BERMUDA FORM Policy Forms and Liability Problems US Legal Decisions on Insurance Coverage Issues The Creation of ACE and XL Key Features of the Bermuda Form 2. THE BERMUDA FORM: ITS BASIC STRUCTURE An Occurrence Reported Form The Period of Cover: Coverage A and B Limits The Excess Point The Inception and Retroactive Coverage Dates The Exclusions The Conditions Schedules and Endorsements 3. CHOICE OF LAW ISSUES UNDER THE BERMUDA FORM Identifying the Relevant Governing Law The Division between Substance and Procedure 4. INTERPRETATION OF THE BERMUDA FORM AND THE MODIFICATION OF NEW YORK LAW The Structure of the Modification of the New York Law Proviso Interpretation of Insurance Contracts: The Basic Approach Interpretation of the Modification of the New York Law Proviso The ‘Forbidden Grounds’Fruit of the Poisonous Tree? 5. THE COVERAGE CLAUSE Insurance against Liability The Insured Ultimate Net Loss/All Sums Insurance … For Damages Judgments Settlements by the Policyholder Mitigation of Damages Allocation of PaymentsPersonal Injury, Property Damage and Advertising Liability Personal Injury Property Damage Advertising Liability Other Aspects of the Coverage Clause6. THE DEFINITION OF ‘OCCURRENCE’ Introduction ‘Occurrence’: The Basic Definition Aggregation Expected or Intended Injury 67. FORTUITY, EXPECTED OR INTENDED, AND THE ‘MAINTENANCE DEDUCTIBLE’ Introduction Fortuity and Related Doctrines Expectation and Intention The ‘Maintenance Deductible’ 8. NOTICE OF OCCURRENCE Introduction Method of Giving Notice Notice as a Condition of Coverage Notice as a Trigger of Coverage: Legal and Practical Considerations 9. ARTICLE II: THE EXCESS POINT AND LIMITS OF LIABILITY The Excess Point The Other Insurance Condition The Policy Limits Joint Ventures, Partnerships and Minority Interests 10. THE EXCLUSIONS Introduction 6Interpretation of Exclusion Clauses: General Principles and the Effect of the Bermuda Form’s Modification of New York Law Causation The Specific Exclusions in the Bermuda Form: Introduction The ‘Prior to Inception or Retroactive Coverage Date’ and ‘Other Insurance’ Exclusion The ‘Workers’ Compensation, etc’ Exclusion The ‘Professional Services’ Exclusion The ‘Owned Property; Care, Custody or Control, etc’ Exclusion The ‘Products Liability’ Exclusions (‘Efficacy, Loss of Use, etc’) The ‘Advertising’ Exclusion The ‘War’ Exclusion The ‘Toxic Substances’ Exclusion The ‘Aircraft’ Exclusion The ‘Watercraft’ Exclusion The ‘Pollution’ Exclusion The ‘Nuclear’ and the ‘Radioactive Contamination (Outside the United States)’ Exclusions The ‘Erisa’ Exclusion The ‘Repetitive Stress’ Exclusion The ‘Securities, Antitrust, etc’ Exclusion 11. THE CONDITIONS The Premium Condition The Inspection Condition The Cross-liability Condition The Notice of Occurrence Condition The Assistance and Co-operation Condition The Appeals Condition The Loss Payable Condition The Representation Condition The Other Insurance Condition The Subrogation Condition The Changes Condition The Assignment Condition The Cancellation Condition The Currency Condition The Arbitration Condition The Conflicting Statutes Condition The Law of Construction and Interpretation Condition The Proration of Losses Condition The Liability of the Company Condition The Policy Extension ConditionThe Reinstatement Condition The Discovery Period Condition The Expiration Date Condition The Former Subsidiaries, Affiliates and Associated Companies Condition The Notice Condition The Headings Condition 12. MISREPRESENTATION AND NON-DISCLOSURE Introduction Non-Disclosure under New York Law Misrepresentation under New York Law Remedy for Misrepresentation 13. WAIVER AND ESTOPPEL AND RESERVATIONS OF RIGHTS Introduction Waiver Estoppel The ‘Changes’ Condition in the Bermuda Form 14. COMMENCING A BERMUDA FORM ARBITRATION AND APPOINTING ATTORNEYS AND ARBITRATORS Introduction Legal Representation The Commencement of Arbitration The Selection of an Arbitrator Appendix: Notice to Commence Arbitration 15. THE COURSE AND CONDUCT OF A BERMUDA FORM ARBITRATION IN LONDON Introduction The Overall Shape of the Arbitration The ‘Pleadings’ Stage The First Order for Directions Confidentiality Discovery of Documents Preliminary Issues or ‘Bifurcation’ Witness Statements Expert Evidence Preparation for the Substantive Hearing The Substantive Hearing The Award and Post-Award Events Appendix 1: First Order for Directions Appendix 2: Protective Order 16. DISCOVERY, PRIVILEGE AND WAIVER OF PRIVILEGE General Principles Discovery in Arbitration in Practice Legal Professional Privilege Waiver of Privilege Confidential Documents Other Forms of Discovery 17. INTEREST AND COSTS Interest Costs

Sir Richard Jacobs is a judge in the Queen’s Bench Division of the English High Court, where he spends most of his time on commercial cases in the Commercial Court.Lorelie S Masters is a Partner at Hunton & Williams LLP in Washington, DC, USA, where she advises and represents policyholders in insurance coverage and litigation. Paul Stanley KC is a barrister at Essex Court Chambers, UK, specialising in commercial law, including insurance and arbitration law.

• 1. THE LEGAL AND ECONOMIC ORIGINS OF THE BERMUDA FORM Policy Forms and Liability Problems US Legal Decisions on Insurance Coverage Issues The Creation of ACE and XL Key Features of the Bermuda Form 2. THE BERMUDA FORM: ITS BASIC STRUCTURE An Occurrence Reported Form The Period of Cover: Coverage A and B Limits The Excess Point The Inception and Retroactive Coverage Dates The Exclusions The Conditions Schedules and Endorsements 3. CHOICE OF LAW ISSUES UNDER THE BERMUDA FORM Identifying the Relevant Governing Law The Division between Substance and Procedure 4. INTERPRETATION OF THE BERMUDA FORM AND THE MODIFICATION OF NEW YORK LAW The Structure of the Modification of the New York Law Proviso Interpretation of Insurance Contracts: The Basic Approach Interpretation of the Modification of the New York Law Proviso The ‘Forbidden Grounds’Fruit of the Poisonous Tree? 5. THE COVERAGE CLAUSE Insurance against Liability The Insured Ultimate Net Loss/All Sums Insurance … For Damages Judgments Settlements by the Policyholder Mitigation of Damages Allocation of PaymentsPersonal Injury, Property Damage and Advertising Liability Personal Injury Property Damage Advertising Liability Other Aspects of the Coverage Clause6. THE DEFINITION OF ‘OCCURRENCE’ Introduction ‘Occurrence’: The Basic Definition Aggregation Expected or Intended Injury 67. FORTUITY, EXPECTED OR INTENDED, AND THE ‘MAINTENANCE DEDUCTIBLE’ Introduction Fortuity and Related Doctrines Expectation and Intention The ‘Maintenance Deductible’ 8. NOTICE OF OCCURRENCE Introduction Method of Giving Notice Notice as a Condition of Coverage Notice as a Trigger of Coverage: Legal and Practical Considerations 9. ARTICLE II: THE EXCESS POINT AND LIMITS OF LIABILITY The Excess Point The Other Insurance Condition The Policy Limits Joint Ventures, Partnerships and Minority Interests 10. THE EXCLUSIONS Introduction 6Interpretation of Exclusion Clauses: General Principles and the Effect of the Bermuda Form’s Modification of New York Law Causation The Specific Exclusions in the Bermuda Form: Introduction The ‘Prior to Inception or Retroactive Coverage Date’ and ‘Other Insurance’ Exclusion The ‘Workers’ Compensation, etc’ Exclusion The ‘Professional Services’ Exclusion The ‘Owned Property; Care, Custody or Control, etc’ Exclusion The ‘Products Liability’ Exclusions (‘Efficacy, Loss of Use, etc’) The ‘Advertising’ Exclusion The ‘War’ Exclusion The ‘Toxic Substances’ Exclusion The ‘Aircraft’ Exclusion The ‘Watercraft’ Exclusion The ‘Pollution’ Exclusion The ‘Nuclear’ and the ‘Radioactive Contamination (Outside the United States)’ Exclusions The ‘Erisa’ Exclusion The ‘Repetitive Stress’ Exclusion The ‘Securities, Antitrust, etc’ Exclusion 11. THE CONDITIONS The Premium Condition The Inspection Condition The Cross-liability Condition The Notice of Occurrence Condition The Assistance and Co-operation Condition The Appeals Condition The Loss Payable Condition The Representation Condition The Other Insurance Condition The Subrogation Condition The Changes Condition The Assignment Condition The Cancellation Condition The Currency Condition The Arbitration Condition The Conflicting Statutes Condition The Law of Construction and Interpretation Condition The Proration of Losses Condition The Liability of the Company Condition The Policy Extension ConditionThe Reinstatement Condition The Discovery Period Condition The Expiration Date Condition The Former Subsidiaries, Affiliates and Associated Companies Condition The Notice Condition The Headings Condition 12. MISREPRESENTATION AND NON-DISCLOSURE Introduction Non-Disclosure under New York Law Misrepresentation under New York Law Remedy for Misrepresentation 13. WAIVER AND ESTOPPEL AND RESERVATIONS OF RIGHTS Introduction Waiver Estoppel The ‘Changes’ Condition in the Bermuda Form 14. COMMENCING A BERMUDA FORM ARBITRATION AND APPOINTING ATTORNEYS AND ARBITRATORS Introduction Legal Representation The Commencement of Arbitration The Selection of an Arbitrator Appendix: Notice to Commence Arbitration 15. THE COURSE AND CONDUCT OF A BERMUDA FORM ARBITRATION IN LONDON Introduction The Overall Shape of the Arbitration The ‘Pleadings’ Stage The First Order for Directions Confidentiality Discovery of Documents Preliminary Issues or ‘Bifurcation’ Witness Statements Expert Evidence Preparation for the Substantive Hearing The Substantive Hearing The Award and Post-Award Events Appendix 1: First Order for Directions Appendix 2: Protective Order 16. DISCOVERY, PRIVILEGE AND WAIVER OF PRIVILEGE General Principles Discovery in Arbitration in Practice Legal Professional Privilege Waiver of Privilege Confidential Documents Other Forms of Discovery 17. INTEREST AND COSTS Interest Costs

Sir Richard Jacobs is a judge in the Queen’s Bench Division of the English High Court, where he spends most of his time on commercial cases in the Commercial Court.Lorelie S Masters is a Partner at Hunton & Williams LLP in Washington, DC, USA, where she advises and represents policyholders in insurance coverage and litigation. Paul Stanley KC is a barrister at Essex Court Chambers, UK, specialising in commercial law, including insurance and arbitration law.

• 1. THE LEGAL AND ECONOMIC ORIGINS OF THE BERMUDA FORM Policy Forms and Liability Problems US Legal Decisions on Insurance Coverage Issues The Creation of ACE and XL Key Features of the Bermuda Form 2. THE BERMUDA FORM: ITS BASIC STRUCTURE An Occurrence Reported Form The Period of Cover: Coverage A and B Limits The Excess Point The Inception and Retroactive Coverage Dates The Exclusions The Conditions Schedules and Endorsements 3. CHOICE OF LAW ISSUES UNDER THE BERMUDA FORM Identifying the Relevant Governing Law The Division between Substance and Procedure 4. INTERPRETATION OF THE BERMUDA FORM AND THE MODIFICATION OF NEW YORK LAW The Structure of the Modification of the New York Law Proviso Interpretation of Insurance Contracts: The Basic Approach Interpretation of the Modification of the New York Law Proviso The ‘Forbidden Grounds’Fruit of the Poisonous Tree? 5. THE COVERAGE CLAUSE Insurance against Liability The Insured Ultimate Net Loss/All Sums Insurance … For Damages Judgments Settlements by the Policyholder Mitigation of Damages Allocation of PaymentsPersonal Injury, Property Damage and Advertising Liability Personal Injury Property Damage Advertising Liability Other Aspects of the Coverage Clause6. THE DEFINITION OF ‘OCCURRENCE’ Introduction ‘Occurrence’: The Basic Definition Aggregation Expected or Intended Injury 67. FORTUITY, EXPECTED OR INTENDED, AND THE ‘MAINTENANCE DEDUCTIBLE’ Introduction Fortuity and Related Doctrines Expectation and Intention The ‘Maintenance Deductible’ 8. NOTICE OF OCCURRENCE Introduction Method of Giving Notice Notice as a Condition of Coverage Notice as a Trigger of Coverage: Legal and Practical Considerations 9. ARTICLE II: THE EXCESS POINT AND LIMITS OF LIABILITY The Excess Point The Other Insurance Condition The Policy Limits Joint Ventures, Partnerships and Minority Interests 10. THE EXCLUSIONS Introduction 6Interpretation of Exclusion Clauses: General Principles and the Effect of the Bermuda Form’s Modification of New York Law Causation The Specific Exclusions in the Bermuda Form: Introduction The ‘Prior to Inception or Retroactive Coverage Date’ and ‘Other Insurance’ Exclusion The ‘Workers’ Compensation, etc’ Exclusion The ‘Professional Services’ Exclusion The ‘Owned Property; Care, Custody or Control, etc’ Exclusion The ‘Products Liability’ Exclusions (‘Efficacy, Loss of Use, etc’) The ‘Advertising’ Exclusion The ‘War’ Exclusion The ‘Toxic Substances’ Exclusion The ‘Aircraft’ Exclusion The ‘Watercraft’ Exclusion The ‘Pollution’ Exclusion The ‘Nuclear’ and the ‘Radioactive Contamination (Outside the United States)’ Exclusions The ‘Erisa’ Exclusion The ‘Repetitive Stress’ Exclusion The ‘Securities, Antitrust, etc’ Exclusion 11. THE CONDITIONS The Premium Condition The Inspection Condition The Cross-liability Condition The Notice of Occurrence Condition The Assistance and Co-operation Condition The Appeals Condition The Loss Payable Condition The Representation Condition The Other Insurance Condition The Subrogation Condition The Changes Condition The Assignment Condition The Cancellation Condition The Currency Condition The Arbitration Condition The Conflicting Statutes Condition The Law of Construction and Interpretation Condition The Proration of Losses Condition The Liability of the Company Condition The Policy Extension ConditionThe Reinstatement Condition The Discovery Period Condition The Expiration Date Condition The Former Subsidiaries, Affiliates and Associated Companies Condition The Notice Condition The Headings Condition 12. MISREPRESENTATION AND NON-DISCLOSURE Introduction Non-Disclosure under New York Law Misrepresentation under New York Law Remedy for Misrepresentation 13. WAIVER AND ESTOPPEL AND RESERVATIONS OF RIGHTS Introduction Waiver Estoppel The ‘Changes’ Condition in the Bermuda Form 14. COMMENCING A BERMUDA FORM ARBITRATION AND APPOINTING ATTORNEYS AND ARBITRATORS Introduction Legal Representation The Commencement of Arbitration The Selection of an Arbitrator Appendix: Notice to Commence Arbitration 15. THE COURSE AND CONDUCT OF A BERMUDA FORM ARBITRATION IN LONDON Introduction The Overall Shape of the Arbitration The ‘Pleadings’ Stage The First Order for Directions Confidentiality Discovery of Documents Preliminary Issues or ‘Bifurcation’ Witness Statements Expert Evidence Preparation for the Substantive Hearing The Substantive Hearing The Award and Post-Award Events Appendix 1: First Order for Directions Appendix 2: Protective Order 16. DISCOVERY, PRIVILEGE AND WAIVER OF PRIVILEGE General Principles Discovery in Arbitration in Practice Legal Professional Privilege Waiver of Privilege Confidential Documents Other Forms of Discovery 17. INTEREST AND COSTS Interest Costs