WISE (UNDERWRITING AGENCY) LTD v GRUPO NACIONAL PROVINCIAL SA

[2004] Lloyd's Rep IR 764

COURT OF APPEAL

Before Lord Justice Peter Gibson, Lord Justice Rix and Lord Justice Longmore

Reinsurance - Utmost good faith - Cargo insurance - Reinsured stating that clocks were to be insured - Cargo including Rolex watches - Cargo stolen - Whether reinsurers induced by presentation of risk - Whether reinsurers had waived disclosure of inclusion of Rolex watches - Whether policy affirmed - Marine Insurance Act 1906, section 18.