Feasey v Sun Life Assurance Company of Canada & Ors

Feasey v Sun Life Assurance Company of Canada & Ors

Steamship had an insurable interest under the Master Lineslip policy because its contingent liability to indemnify members for injury or death of Original Persons was sufficient to constitute an insurable interest within the meaning of the Life Assurance Act 1774. The policy was not void as a wagering contract, and the sums recoverable did not exceed the value of the insurable interest. On the authority issue, Centaur did not bind Sun Life for 100% of the risk after Phoenix's authority ceased; the documentation did not objectively evidence such an intention.

Parties
Claimant/appellant: Anthony Feasey; Defendant/respondent: Sun Life Assurance Company of Canada; Defendant/respondent: Steamship Mutual Underwriting Association (Bermuda) Limited
Jurisdiction
England and Wales
Judgment Date
26 June 2003
Procedural Posture
Civil Appeal / Court of Appeal Judgment on Appeal From High Court (commercial Court)
Outcome
Appeal dismissed
Legal Topics
Insurable Interest, Life Assurance Act 1774, Authority of Agent, Reinsurance, Construction of Insurance Contracts
Insurance Law Contract Law Insurable Interest Life Assurance Act 1774 Authority of Agent Reinsurance Construction of Insurance Contracts

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Parties

Anthony Feasey

Claimant/appellant

Sun Life Assurance Company of Canada

Defendant/respondent

Steamship Mutual Underwriting Association (Bermuda) Limited

Defendant/respondent

Procedural Posture

Civil Appeal / Court of Appeal Judgment on Appeal From High Court (commercial Court)

Legal Issues

  1. 1 Whether Steamship had an insurable interest under the Master Lineslip policy within the meaning of the Life Assurance Act 1774
  2. 2 Whether the policy was void for lack of insurable interest or as a wagering contract
  3. 3 Whether Centaur had authority to bind Sun Life for 100% of the risk after termination of Phoenix's authority

Ratio Decidendi

Steamship had an insurable interest under the Master Lineslip policy because its contingent liability to indemnify members for injury or death of Original Persons was sufficient to constitute an insurable interest within the meaning of the Life Assurance Act 1774. The policy was not void as a wagering contract, and the sums recoverable did not exceed the value of the insurable interest. On the authority issue, Centaur did not bind Sun Life for 100% of the risk after Phoenix's authority ceased; the documentation did not objectively evidence such an intention.

Court Disposition

Appeal dismissed

Orders

  • Appeal dismissed on both insurable interest and authority issues
  • Costs orders to be determined as per post-judgment discussion