Excluded risks – risks not included or specifically excluded?

Kiriacoulis Lines SA v Compagnie d’Assurances Maritime Arienees et Terrestres, The Demetra K [2002] EWCA Civ 1070

The central feature of this case concerned the consideration of whether a risk was excluded from the policy cover, or was it instead a specifically excluded risk. The case confirms the legal effect of a specific exclusion on insurance cover whilst examining the requirements for rectification of a policy. On a practical basis it confirms that whilst negotiating insurance cover, the parties must clearly identify their intentions as regards the extent of both cover and exclusions.