Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

BANQUE KEYSER ULLMANN S.A. v. SKANDIA (U.K.) INSURANCE CO. LTD. AND OTHERS

[1987] 1 Lloyd's Rep. 69

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr. Justice Steyn

Insurance (Credit) - Fraud - Banks made loans to borrowers - Gemstones lodged with banks as security - Credit insurance policy issued to borrowers to cover loans - Value of gemstones proved negligible - Banks claimed reimbursement under policies - Underwriters alleged fraud - Whether underwriters liable.

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