FNCB LTD (FORMERLY FIRST NATIONAL COMMERCIAL BANK PLC) v BARNET DEVANNEY (HARROW) LTD

[1999] Lloyd's Rep IR 459

COURT OF APPEAL

Before Lord Justice Morritt, Lord Justice Sedley and Mr Justice Lindsay

Insurance (Fire policy) - Co-insurance for benefit of mortgagor and mortgagee - Non-disclosure, misrepresentation and breach of condition by mortgagor - Insurers purport to avoid policy against both mortgagor and mortgagee - Settlement between mortgagee and insurers - Whether brokers in breach of duty to mortgagee by failing to include a policy term protecting mortgagee’s interests - Whether breach of duty caused any loss - Whether contingency policy obtained by mortgagee to be taken into account in assessing damages.