PT Buana Samudra Pratama v Marine Mutual Insurance Association (NZ) Ltd (The “Buana Dua”) – QBD (Com Ct) (Teare J) – 29 September 2011

Marine insurance – Institute Time Clauses – Hulls – Follow leader clause – Tug grounding on route to tow - Leader settling assured’s claim – Whether co-insurer entitled to reject claim on basis of breach of warranty notwithstanding leader’s settlement – Whether assured in breach of warranty – Whether assured could rely on held covered clause – Whether co-insurer discharged from liability by reason of assured’s fraudulent representations

The claimant insured its tug Buana Dua under a policy of marine insurance with three underwriters of whom the lead underwriter was Axa. The other two underwriters were the defendant and Aegis.