In Brief
A steel coil importer claimed marine cargo insurance for cargo that ran aground at sea. The insurer repudiated the claim, alleging that the vessel was not classed with an approved classification society as required by the Institute Classification Clause (ICC). The Court held that the assured had breached the ICC warranty by misrepresenting the vessel's classification. The breach automatically discharged the insurer's liability under the Marine Insurance Act, 1963. The assured's failure to provide prompt notice of non-compliance was fatal. The insurer's issuance of a General Average Guarantee in good faith, before discovering the breach, did not constitute a waiver. The Court dismissed the appeal and confirmed the insurer's repudiation of the claim.
The lawyer headnote and full judgment text are available to registered users.