The claimant appealed a refusal to order that a dispute between insurer and re-insurer be referred to arbitration. One party sought to avoid liability under the policy, alleging misrepresentation. Discussions had been undertaking settling a revised form of agreement, but the forms had not been signed. The judge had held that the new document formal and was not intended to take effect until signed.
Held: In the insurance and reinsurance market the concern is usually upon the terms agreed and the necessity for signature at the outset when the insurance contract is made (usually by slip), rather than on any subsequent additional treaty terms which are regarded as a relative formality. Here the parties intended to be bound by the document signed unless and until replaced by any formal and signed addendum. Appeal dismissed.
Judges:
Lord Justice Potter Mr Justice Lawrence Collins Lord Justice Carnwath
Citations:
[2003] EWCA Civ 283
Links:
Jurisdiction:
England and Wales
Citing:
Cited – The Zephyr 1984
Whilst it is possible to make a contract which is partly oral and partly written, that is not the practice of the marine insurance market. The policy is the formal contractual document issued to the assured and unequivocally contains the terms of . .
Cited – New England Reinsurance Corporation v Messoghios Insurance Co 1992
Where, on the face of the documents the parties contemplate that, before being bound by a contract, they will execute a written contract the terms of which require careful negotiation, there is a distinction between a party who indicates his . .
Cited – First Energy (UK) Ltd v Hungarian International Bank Ltd CA 16-Apr-1993
A manager, though he lacked actual authority to authorise and offer a particular loan facility to the plaintiff, still did so by sending him a letter of offer which was accepted.
Held: Albeit the manager lacked actual authority to make the . .
Lists of cited by and citing cases may be incomplete.
Insurance, Contract
Updated: 07 June 2022; Ref: scu.179549