Duties of brokers: reliance upon information provided by the assured

The decision of the Victoria Supreme Court in SKM Recycling Pty Ltd v Australian Reliance Pty Ltd [2017] VSC 159 is reminiscent of the ruling of Blair J in Eurokey Recycling Ltd v Giles Insurance Brokers Ltd [2015] Lloyd's Rep IR 225, holding that a broker who receives complex financial information from its assured for the purpose of placing business interruption insurance is entitled to rely upon that information at face value.

SKM : the facts