LIMIT NO 2 LTD v AXA VERSICHERUNG AG

[2008] Lloyd's Rep IR Plus 4

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Jonathan Hirst QC, Sitting as a Deputy Judge of the High Court

Reinsurance – Treaty – Misrepresentation and non-disclosure – Reinsurance of construction risks – Reinsurers told that reinsured’s policy was normally to write risks with a deductible of at least £500,000 – Whether material misstatement – Whether material to risk – Whether Treaty and Endorsement could be avoided.