News of the Whirled obtained a claims made and notified multimedia indemnity insurance policy with Edward's...
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News of the Whirled obtained a claims made and notified multimedia indemnity insurance policy with Edward's Underwriters Pty Ltd located in Sydney, for the period from 30 June 2023 to 30 June 2024, that would indemnify them against liability for defamation claims brought against them. In the proposal form prior to obtaining insurance, News of the Whitled's owner and general manager Lord Monomark (assume News of the Whirled are responsible for any acts of their general manager in insurance law), wrote (in red. italicized, and underlined): MULTIMEDIA INSURANCE PROSPOSAL FORM. Your duty of disclosure: Before you enter into an insurance contract, you have a duty to tell. us anything that you know, or could reasonably be expected to know, may affect our decision. to insure you and on what terms. You have this duty until we agree to insure you. You bave. the same duty before you renew, extend vary or reinstate an insurance contract. You do not need to tell us anything that... reduces the risk we insure you for, or is common knowledge or we know or should know as an insurer, or we waive your duty to tell us about.. If you do not tell us something: If you do not tell us anything you are required to, we may. cancel your contract or reduce the amount we will pay you if you make a claim or both. If your. failure to tell us.is fraudulent we may refuse to pay a claim and treat the contract as if it never. existed No. X Yes Is the Insured aware of any circumstance or incident. which may give rise to a claim against the Insured? Not applicable. At the time of completing the proposal Lord Monomark and News of the Whirled were aware of the mistaken photo in one of their articles, which some readers had noticed and commented on. Lord Monomark had previously been sued for defamation on a number of occasions for mistakes of the kind. Further, a lawyer friend of Lord Manemark had suggested that they could potentially be liable to Balcaim. On 1 October 2023, Simon Balcairn's lawyers sued News of the Whirled for defamation. When News of the Whirled sought indemnity from Edward's Underwriters Pty Ltd, indemnity was refused on the basis of misrepresentation by News of the Whirled under the provisions of the Insurance Contracts Act 1984 (Cth). That facts show that had Edward's Underwriting known about the published matter they would not have offered coverage to News of the Whirled, on any terms or at any premium. Questions (a) Has there been a relevant failure by News of the Whirled in relation. misrepresentation ONLY under the Insurance Contracts Act 1984 (Cth)? (4 marks).. (Do not address any non-disclosure. ONLY DISCUSS misrepresentation) (b) If there was a misrepresentation, was it fraudulent or innocent/negligent? (3 marks) (c) Could Edward's Underwriting avoid the contract of insurance or reduce its liability for any claim made against News of the Whirled by Balcairn (including to nil) for any such misrepresentation? (3 marks).. News of the Whirled obtained a claims made and notified multimedia indemnity insurance policy with Edward's Underwriters Pty Ltd located in Sydney, for the period from 30 June 2023 to 30 June 2024, that would indemnify them against liability for defamation claims brought against them. In the proposal form prior to obtaining insurance, News of the Whitled's owner and general manager Lord Monomark (assume News of the Whirled are responsible for any acts of their general manager in insurance law), wrote (in red. italicized, and underlined): MULTIMEDIA INSURANCE PROSPOSAL FORM. Your duty of disclosure: Before you enter into an insurance contract, you have a duty to tell. us anything that you know, or could reasonably be expected to know, may affect our decision. to insure you and on what terms. You have this duty until we agree to insure you. You bave. the same duty before you renew, extend vary or reinstate an insurance contract. You do not need to tell us anything that... reduces the risk we insure you for, or is common knowledge or we know or should know as an insurer, or we waive your duty to tell us about.. If you do not tell us something: If you do not tell us anything you are required to, we may. cancel your contract or reduce the amount we will pay you if you make a claim or both. If your. failure to tell us.is fraudulent we may refuse to pay a claim and treat the contract as if it never. existed No. X Yes Is the Insured aware of any circumstance or incident. which may give rise to a claim against the Insured? Not applicable. At the time of completing the proposal Lord Monomark and News of the Whirled were aware of the mistaken photo in one of their articles, which some readers had noticed and commented on. Lord Monomark had previously been sued for defamation on a number of occasions for mistakes of the kind. Further, a lawyer friend of Lord Manemark had suggested that they could potentially be liable to Balcaim. On 1 October 2023, Simon Balcairn's lawyers sued News of the Whirled for defamation. When News of the Whirled sought indemnity from Edward's Underwriters Pty Ltd, indemnity was refused on the basis of misrepresentation by News of the Whirled under the provisions of the Insurance Contracts Act 1984 (Cth). That facts show that had Edward's Underwriting known about the published matter they would not have offered coverage to News of the Whirled, on any terms or at any premium. Questions (a) Has there been a relevant failure by News of the Whirled in relation. misrepresentation ONLY under the Insurance Contracts Act 1984 (Cth)? (4 marks).. (Do not address any non-disclosure. ONLY DISCUSS misrepresentation) (b) If there was a misrepresentation, was it fraudulent or innocent/negligent? (3 marks) (c) Could Edward's Underwriting avoid the contract of insurance or reduce its liability for any claim made against News of the Whirled by Balcairn (including to nil) for any such misrepresentation? (3 marks)..
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a Yes there has been a relevant failure by News of the Whirled in relation to misrepresentation under the Insurance Contracts Act 1984 Cth In the prop... View the full answer
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date:
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