 December 2008
Misrepresentation
Limit No. 2 Limited v Axa Versicherung
The Court of Appeal decided that a misrepresentation in a broker's presentation had not been a continuing one and, therefore, it was not part of a subsequent presentation to underwriters.
The case involved two fac/oblig energy reinsurance treaties covering construction and operating risks for oil rigs. Lloyd’s syndicates were the reassured and the reinsurer was Albingia, which was acquired by Axa.
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