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).