J A CHAPMAN & CO LTD (In Liquidation) v KADIRGA DENIZCILIK VE TICARET J A CHAPMAN & CO LTD (In Liquidation) v CHIOS BREEZE MARINE COMPANY J A CHAPMAN & COMPANY LTD (In Liquidation) VKADIRGA DENIZCILIK VE TICARETAS

[1998] Lloyd's Rep IR 377

COURT OF APPEAL

Before Lord Justice WALLER, Lord Justice CHADWICK and Sir Brian NEILL

Marine insurance - Premium - Relationship and status of broker - General rule that premium payable to broker - Broker insolvent - Agreement ousting general rule - Clear words required - Effect of payment of premium warranty, brokers cancellation clause - “Premium due and payable to [broker] at inception of risk, or as agreed” - Payment of premium clause - Instalment payments - Successive instalments due and payable on dates which occurred at three monthly intervals during term of policy - Whether premium, which comprised aggregate of instalments, was itself divisible between successive three month periods.