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LLR: Insurance & Reinsurance Plus

LIMIT NO 2 LTD v AXA VERSICHERUNG AG

[2009] Lloyd's Rep IR Plus 4

COURT OF APPEAL

Before Lord Justice Ward, Lord Justice Longmore and Lord Justice Jackson

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 – Whether reinsured made continuing representation – Marine Insurance Act 1906, section 20(6).

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