Oversea-Chinese Banking Corporation Ltd v Argoglobal Underwriting Asia Pacific Pte Ltd and Others [2025] SGHC 82

Constructive total loss and fair presentation in marine insurance

In this case the Singapore High Court was tasked with resolving complex questions of marine insurance law, particularly concerning the concept of constructive total loss ("CTL"), the duty of fair presentation under the UK Insurance Act 2015 ("IA 2015"), and the operation of warranties. At the heart of the dispute was whether the loss of a vessel amounted to a CTL, and whether Oversea-Chinese Banking Corporation Ltd was entitled to recover under the marine insurance policy.