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Puff Goes The Cover - In Part |
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 February 2009
The Court of Appeal has given its ruling and has overturned, in part, the controversial Commercial Court decision in Limit No 2 Ltd v AXA Versicherung AG [2007] where it was held that a statement made by brokers on a fax coversheet, was not merely "brokers' puff", but was a misrepresentation entitling the defendant reinsurer to avoid two first loss fac/oblig treaties which had suffered significant losses.
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