As a contract for speculation, a duty of utmost good faith is not implied in a contract insurance. The duty of disclosure by an insured can be limited by the contract as can the freedom of the insurance company to avoid liability. If the wording is clear enough, even a deliberate non-disclosure amounting concealment might be excused. Nevertheless the contract might be rescindable at the option of the insurer.
Judges:
Aikens J
Citations:
Times 19-Sep-2000, [2001] 1 Lloyd’s Rep 30
Jurisdiction:
England and Wales
Cited by:
Appeal from – HIH Casualty And General Insurance Limited and Others v The Chase Manhattan Bank and Others CA 31-Jul-2001
Parties syndicating finance for a film obtained the security of an insurance which is designed to pay up to the sum insured, if the revenues generated by the film were insufficient to repay the loan finance plus associated expenses. The polices were . .
Lists of cited by and citing cases may be incomplete.
Insurance, Media
Updated: 28 April 2022; Ref: scu.81374