In this judgment the court considered the insured’s duty of disclosure and the insurers’ ability to avoid the policy under the relevant Australian legislation. The question turned on what was called the Iraq File Note written in November 2010.The insurers contended that the contents should have been disclosed before renewal of the policy in 2011. … Continue reading
Higherdelta Ltd was the owner of commercial properties including a restaurant in Scotland. Its company secretary, director and shareholder was also the owner of a portfolio of residential properties. The non-disclosure of prior events relating to the personal portfolio was held not to be relevant to underwriting the business policy. The restaurant was added to … Continue reading
The English high court held that the substantial over-valuation of a superyacht covered for fire under a valued policy was a material non-disclosure entitling insurers to reject the claim. The yacht had been valued for policy purposes at €13 million (the original purchase price in 2007) despite a 2009 valuation certificate putting the value at €7 million … Continue reading
In a judgment handed down by the High Court on 19 August 2015, Norton Rose Fulbright successfully assisted the insurer in a challenge to the insurer’s avoidance of the policy issued to the insured. The judgment confirms that cancellation of the insured’s policy by its previous insurer due to non-payment of premiums ought to have … Continue reading
In Regent Insurance v King’s Property Development the appeal court confirmed that when dealing with avoidance of a policy for material non-disclosure: The test for materiality is objective taken from the view of the reasonable person in the insurer’s position. The test for inducement is subjective taken from the view of the particular insurer. The … Continue reading