CRANE (REPRESENTING SYNDICATE 53 AT LLOYD’S, 1998 YEAR OF ACCOUNT) v HANNOVER RUCKVERSICHERUNGS-AKTIENGESELLSCHAFT PARK LONDON LTD (THIRD PARTY)

[2010] Lloyd's Rep. IR 93

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Walker

Retrocession — Utmost good faith — Retrocessionaires asserting that reinsurers had failed to disclose and had misrepresented reinsured’s underwriting practice — Whether false statements made — Whether facts material — Inducement — Whether duty to disclose information obtained after contract — Whether reinsurers required to disclose their own concerns to retrocessionaires — Marine Insurance Act 1906, section 20.