One would think the old case laws-say, dating back to 1921, may have, most probably lost their relevance as subsequent decisions have been more elaborate or contracting practices have changed. However, there are some old cases which are very relevant today, like a chapter in a text book.
One case in point is Niger Co Ltd Vs The Guardian Assurance Co Ltd decided by the English Court of Appeal in 1921. It deals with how & when a fire in a coastal godown near a port, with a long storage of 8 months, could still be claimed under a marine policy.
This case also deals how the extent of disclosures required from an Insured is minimum, during the running of a long term policy, as against an annual policy.
This case, further confirmed coverage for exportable goods stored in a Nigerian warehouse without a known destination in Europe, as the policy wordings provided for the same “Reasonable Dispatch” in Section 48 of Marine Insurance Act 1906 is also explained in great detail.
This case underlines how Businessmen, who plan and discuss their supply chain risk covers wisely with the Insurers, stand protected under a well-written policy
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