LIMIT NO 2 LTD v AXA VERSICHERUNG AG

[2009] Lloyd's Rep. IR 396

COURT OF APPEAL

Before Lord Justice Ward, Lord Justice Longmore and Lord Justice Jackson

Reinsurance — Treaty — Misrepresentation and non-disclosure — Reinsurance of construction risks — Reinsurers told that reinsured’s policy was normally to write risks with a deductible of at least £500,000 — Whether material misstatement — Whether material to risk — Whether treaty and endorsement could be avoided — Whether reinsured made continuing representation — Marine Insurance Act 1906, section 20(6).