TALBOT UNDERWRITING LTD v NAUSCH, HOGAN & MURRAY INC (THE “JASCON 5”)

[2006] Lloyd's Rep IR 531

COURT OF APPEAL

Before Lord Justice Waller, Lord Justice Moore-Bick and Lord Justice Richards

Insurance (marine construction risks) - Brokers instructed by owners to take out insurance covering repair of vessel with repairers as co-assured - Slip policy not naming repairers - Whether repairers parties to insurance under insuring clause or by reason of doctrine of undisclosed principal - Whether trust of policy in favour of repairers - Whether existence of undisclosed principal a material fact requiring disclosure - Whether insurers induced - Whether duty of disclosure or breach of duty waived - Whether assured and repairers suffering loss by reason of any breach of duty by brokers - Whether loss proximately caused by delay or by insured peril - Marine Insurance Act 1906, section 55(2)(b).