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Marine Insurance

W.I.S.E Underwriting Agency Ltd. and Dornoch Ltd. -v- Grupo Nacional Provincial S.A.

October 2003

This case concerns a (successful) attempt by reinsurers to avoid a reinsurance contract by reason of the non-disclosure of material facts. In addition to providing a useful summary of the ingredients necessary to support such an argument, it also provides a good illustration of the many obstacles which may confront an insurer when seeking to avoid a policy on this ground. In addition to dealing with 'materiality' and inducement, reference is also made to the possibility of both waiver of the obligation to disclose and affirmation of the contract by insurers (either of which would preclude their avoidance of the policy).

A discussion of the decision can be found in our October 2003 Bulletin: "Marine Insurance - Avoidance of Cover: Non-Disclosure".

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