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Ince Incisive Risk

By • Mar 3rd, 2011 • Category: IGPI

Incisive Risk

Global Process Systems v Syarikat Takaful Malaysia Berhad
Supreme Court 1 February 2011

“Inherent vice” is a well-known exception to All Risks cargo cover. Its scope has been a matter of controversy in recent years but has now been authoritatively addressed in the UK Supreme Court in a judgment handed down on 1 February. The insurer’s appeal has led to a narrower view of the defence than the Court of Appeal had in mind so the decision is of importance to both sides of the market. The subject matter of the case – a rig under tow named Cendor MOPU – typifies the high value and high risk cargoes where a clear understanding of the Supreme Court’s conclusions will be essential.

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“Incisive Risk” is the legal updating service provided to re/insurance markets and buyers by Ince & Co.

The information and commentary herein do not and are not intended to amount to legal advice to any person on a specific matter. They are furnished for information purposes only and free of charge. Every reasonable effort is made to make them accurate and up to date but no responsibility for their accuracy or correctness, nor for any consequences of reliance on them, is assumed by the firm. Readers are firmly advised to obtain specific legal advice about any matter affecting them and are welcome to speak to their usual contact at the firm or to the author, Alan Weir.