Uberrimae Fidei is Alive and Well

Friday, February 15, 2008
The US Court of Appeals for the Ninth Circuit affirmed the validity of the principle of uberrimae fidei as applied to marine insurance contracts. Defendant fishing vessel owners insured their vessels with plaintiff marine insurers but failed to disclose that their policy with another company had been cancelled for non-payment of premiums and for failure to cooperate in the investigation of various marine casualties and oil spills that were the subject of claims. After the fishing vessel owners submitted various claims, plaintiff insurers commenced an investigation and learned that the owners had failed to disclose certain material facts when they applied for the policy. The insurers then brought this declaratory judgment action, seeking to have the policies declared void ab initio. The court held that both the insured and the insurer in a marine insurance contract have a duty to maintain the highest standard of good faith (uberrimae fidei). Violation of this standard by the insured in this case allows the insurer to void the marine insurance contract. Certain Underwriters at Lloyd’s, London v. Inlet Fisheries, Inc., No. 06-35383 (9th Cir., February 11, 2008). (HK Law)
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

U.S. Renews Security Pledge to Japan

U.S. Secretary of State John Kerry told Japanese leaders on Monday that Washington's treaty commitments to Japan's security remain "iron-clad" and cover all territories under Tokyo's administration,

China "Extremely Concerned" by ASEAN Statements

China's foreign ministry said on Tuesday that it was "extremely concerned" after leaders of Southeast Asian countries expressed worry about land reclamation and

DNV GL Issues Design Guidelines for DP Operations

Advanced dynamic positioning (DP) vessels can now meet critical safety regulations while gaining operational flexibility, efficiency and cost savings through new design and monitoring methods.

Offshore

De Beers Confirms Kleven Newbuild Contract

Norwegian shipbuilder Kleven announced its contract with De Beers Marine Namibia, part of De Beers Group, for the building of a specialized vessel for deep water mineral exploration,

DNV GL Issues Design Guidelines for DP Operations

Advanced dynamic positioning (DP) vessels can now meet critical safety regulations while gaining operational flexibility, efficiency and cost savings through new design and monitoring methods.

CEVA Appoint Two Sr Executive

Hoofddorp, the Netherlands, 27 April, 2015 – CEVA Logistics, one of the world's leading supply chain companies, today announced the appointment of two senior

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1729 sec (6 req/sec)