GAN INSURANCE CO LTD v TAI PING INSURANCE CO LTD

[2001] Lloyd's Rep IR 291

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Longmore

Reinsurance - Erection all risks policy - Misrepresentation - Whether reinsured made representation as to existence of fire protection systems and as to designer of the systems - Whether statement material and induced reinsurers to enter contract - Whether reinsurers ought to have known that buildings in course of erection would have only temporary protection systems - Marine Insurance Act 1906, section 18(2)(d) - Claims co-operation clause - Whether condition precedent to reinsurers’ liability - Whether reinsurers entitled to withhold consent from reinsured’s settlements.