Technip Saudi Arabia Limited v The Mediterranean & Gulf Insurance and Reinsurance Co
The exclusion in endorsement 2 applies to property owned by any Principal Insured, not just the claimant, and the buy-back schedule determines coverage for specific property. Technip's claim fails because the damaged platform was not scheduled for buy-back.
- Parties
- Claimant/appellant: Technip Saudi Arabia Limited; Defendant/respondent: The Mediterranean & Gulf Insurance and Reinsurance Co.
- Jurisdiction
- England and Wales
- Judgment Date
- 05 September 2024
- Procedural Posture
- Appeal / Judgment on Appeal From High Court
- Outcome
- Appeal dismissed
- Legal Topics
- Contractual Interpretation, Composite Insurance Policies, Exclusion Clauses, Buy Back Provisions
Case Brief
Summary, issues, holding and outcome
More case intelligence is available
Unlock the full research layer for this judgment.
Parties
Technip Saudi Arabia Limited
Claimant/appellant
The Mediterranean & Gulf Insurance and Reinsurance Co.
Defendant/respondent
Procedural Posture
Appeal / Judgment on Appeal From High Court
Legal Issues
- 1 Proper interpretation of Existing Property Endorsement 2 in a composite offshore construction insurance policy
- 2 Scope of exclusion for damage to property owned by Principal Insureds
- 3 Effect of composite policy structure on exclusion clause
Ratio Decidendi
The exclusion in endorsement 2 applies to property owned by any Principal Insured, not just the claimant, and the buy-back schedule determines coverage for specific property. Technip's claim fails because the damaged platform was not scheduled for buy-back.
Court Disposition
Appeal dismissed
Orders
- Technip's appeal is dismissed
- The High Court judgment is upheld
Full Case Text
Judgment text and source record
Sign in to read
Sign in to read the full judgment text
Sign in to read the full judgment text. Downloads and additional research tools may depend on your plan.
Sign in to read the full judgment