HEESENS YACHT BUILDERS BV v COX SYNDICATE MANAGEMENT LTD MUNICH RE CAPITAL LTD (THE “RED SAPPHIRE”)

[2006] Lloyd's Rep IR 476

COURT OF APPEAL

Before Lord Justice Rix Lord Justice Jacob, and Lord Justice Wall

Insurance (liability) - Assured shipyard insured against liability on guarantees given by it in respect of two vessels built by it for claimants - Whether policy applied to guarantees on vessels delivered during currency of policy or to guarantees on vessels whose construction commenced during currency of policy.