Crowden & Anr v QBE Insurance (Europe) Ltd 19/10/17 (Comm)

An exclusion clause in a professional indemnity policy in respect of claims ‘arising out of or relating directly or indirectly to the insolvency or bankruptcy of the Insured or any … other business, firm or company with whom the Insured has arranged directly or indirectly any insurances, investments or deposits’ applied if the insolvency of the investment provider or issuer was a cause even if not a proximate cause of the relevant claim.