HIH CASUALTY AND GENERAL INSURANCE LTD AND OTHERS v CHASE MANHATTAN BANK AND OTHERS

[2001] Lloyd's Rep IR 703

COURT OF APPEAL

Before Lord Justice Aldous, Lord Justice Rix and Mr Justice Lloyd

Insurance (time variable contingency) - Insurance securing repayment of financing for production of films - Facultative policies (contracts of insurance) and Line Slip facility (contract for insurance) - Allegations of fraud and recklessness by brokers placing contracts of insurance and for insurance - Whether insurers having right to avoid contracts - Whether assured liable in damages to insurers for misrepresentations of brokers - Effect of Truth of Statements Clause - Whether brokers liable in damages to insurers for breach of duty of utmost good faith - Whether brokers owed duty of care to insurers.