Utmost good faith

Reinsurance

WISE Underwriting Agency Ltd v Grupo Nacional Provincial SA [2003] EWHC 1706 (Comm), a decision of Simon J, is a very clear illustration of the elements of utmost good faith, and shows that not every statement amounts to a representation and that reinsurers cannot avoid a policy for non-disclosure simply because material facts have not been disclosed: those facts must have been known to the reinsured.