BROTHERTON v ASEGURADORA COLSEGUROS SA (NO 3) [2003] EWHC 1741 (Comm)

[2003] Lloyd's Rep IR 762

QUEEN’S BENCH DIVISION COMMERCIAL COURT

Before Mr Justice Morison

Reinsurance - Utmost good faith - Colombian bank insured under banker’s blanket bond and professional indemnity insurance policies - Reinsurance placed in London - Reinsuring underwriters not told of reports in Colombian press as to alleged misconduct of bank’s president - Whether non-disclosure or misrepresentation - Whether facts were material - Whether reinsurers had been induced - Whether reinsurers knew or ought to have known of material facts - Marine Insurance Act 1906, section 18(3)(b) - Whether breach of duty on presentation to leading underwriter could be relied on by following market.