Insured’s Misrepresentations Were Material; Rescission Was Justified, 2nd Circuit Says
(May 23, 2016, 2:04 PM EDT) -- NEW YORK — Because an insured failed to disclose material information about a dry dock’s condition to its insurers, the insurers were entitled to rescind the policies, the Second Circuit U.S. Court of Appeals said May 20 (Fireman’s Fund Insurance Company, et al. v. Great American Insurance Company of New York, et al., No. 14-1346, 2nd Cir.; 2016 U.S. App. LEXIS 9306).
(Opinion available. Document #03-160525-002Z.)
Fireman’s Fund Insurance Co., OneBeacon Insurance Co., National Liability and Fire Insurance Co. and QBE Marine & Energy Syndicate 1036...