LIMIT NO 2 LTD v AXA VERSICHERUNG AG [2007] EWHC 2321 (Comm)

[2008] Lloyd's Rep IR 330

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Jonathan Hirst QC, Sitting as a Deputy Judge of the High Court

Reinsurance - Treaty - Misrepresentation and non-disclosure - Reinsurance of construction risks - Reinsurers told that reinsured’s policy was normally to write risks with a deductible of at least £500,000 - Whether material misstatement - Whether material to risk - Whether Treaty and Endorsement could be avoided.