Explain to rebecca the reason why she is not entitled

Reference no: EM133460113

Case Study: Crammers' Group Ltd is known for its stellar maritime reputation for insuring the transportation of antiques, household furniture and electronics in large supplies. Rebecca, a store owner of Becca's Antiques approached Crammers' Group Ltd to insure her cargoes of antiques valued at US$1M. Rebecca's cargo is slated to be shipped on the voyage from London to Jamaica. Crammers' Group insures Rebecca for the full one million on the strength of her business reputation. Crammers' Group then reinsures its interest with Guardian & Finch, a maritime reinsurance company, to the tune of US$2M.
While en-route from London to Jamaica, 3⁄4 of Rebecca's shipment suffers damage. Rebecca in turn makes a claim on her marine insurer Crammers' Group Ltd for the sum insured. While in the process of gathering the documents to substantiate her claim, Rebecca's friend Nancy Nosey, a maritime broker, uncovers that Crammers' Group Ltd reinsured its interest with Guardian & Fitch. This information she passes on to Rebecca. Rebecca is enraged that Crammers' Group Ltd hid this information from her and attends upon your office. She advises you that she wishes to claim from Guardian & Fitch for the sum

Crammers' Group Ltd insured for, since they would have used her insurance to 'guarantee the insurance'.

Question: As a maritime insurance expert, explain to Rebecca the reason why she is not entitled to benefit from the contract between Crammers' Group and Guardian & Fitch under the principle of marine re-insurance. Please includes at least three case laws. Please go in-depth with the information.

Reference no: EM133460113

Questions Cloud

Statistics on reports of child abuse and neglect : you realize that social workers report more child abuse and neglect when it occurs among minority families, especially African Americans. What do you do

Discuss the legal issue of marine pollution caused by ships : provide an in depth multi-jurisdictional / comparative analysis. The legal issue of marine pollution caused by ships is a significant challenge for

What plans would you make for working with this family : What plans would you make for working with this family based on the history of one parent being incarcerated, child feeling unsupported and history of physical

Evaluation of the group social workers leadership skills : evaluation of the group social workers leadership skills in the Levy video, using at least two items from each of the three categories

Explain to rebecca the reason why she is not entitled : why she is not entitled to benefit from the contract between Crammers' Group and Guardian & Fitch under the principle of marine re-insurance.

Explain at least two legal and ethical considerations : Explain at least two legal and ethical considerations for human rights, and how can we uphold them in a counselling practice?

What is racial pro?ling and what types of problems does it : What is racial pro?ling and what types of problems does it cause with law enforcement? How dif?cult is it to determine if an individual was stopped solely based

What rights are guaranteed by canada constitution : can you explain to me in a basic languag not complex or long and easy to understand What rights are guaranteed by Canada's Constitution which must be taken

What parts of the course will you incorporate : You were also asked to describe your thoughts about "science". How have your thoughts changed and What parts of the course will you incorporate into your work

User Account

All Pages