THOR NAVIGATION INC. v. INGOSSTRAKH INSURANCE

[2005] 1 Lloyd's Rep. 547

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mrs. Justice Gloster

Insurance (marine, hull and machinery) - Constructive total loss of insured vessel - Measure of indemnity - Whether policies valued or unvalued - Whether policies should be rectified - Whether insurers were estopped from denying that policies were valued - Insurable value - Marine Insurance Act, 1906, ss. 16, 27, 28 and 68.