THOR NAVIGATION INC v INGOSSTRAKH INSURANCE

[2005] Lloyd's Rep IR 490

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, sections 16, 27, 28 and 68.