JOHN W. PRYKE AND OTHERS v. GIBBS HARTLEY COOPER LTD. EXCESS INSURANCE CO. LTD. v. SAME

[1991] 1 Lloyd's Rep. 602

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Waller

Insurance (Financial Guarantee) - Binding authority - Financial guarantee policy issued - Outside scope of binding authority - Plaintiff insurers requested cancellation - Failure to do so - Whether defendants owed duty of care to plaintiffs to report or disclose all information - Whether defendants misrepresented position.