MOORE LARGE & CO LTD v HERMES CREDIT & GUARANTEE PLC [2003] EWHC 26

[2003] Lloyd's Rep IR 315

QUEEN’S BENCH DIVISION COMMERCIAL COURT

Before Mr Justice Colman

Insurance (credit) - Policy covering defaults of named customers - Policy capping recovery by reference to credit limits - Policy endorsement extending credit limits - Construction of policy - Whether relevant date for determining amount of indebtedness that of date of invoice or that of date of customer’s insolvency - Utmost good faith - Right to avoid endorsement - Whether disclosure waived by insurers - Whether insurers affirming policy with knowledge of defence.