Heath Lambert Ltd v Sociedad De Corretaje De Seguros & Anor [2004] EWCA Civ 792 (23 June 2004)

Heath Lambert Ltd v Sociedad De Corretaje De Seguros & Anor [2004] EWCA Civ 792 (23 June 2004)

The clause 'Warranted premium payable on cash basis to London Underwriters within 90 days of attachment' means the premium was not payable until the expiry of 90 days from attachment, so the broker's cause of action did not accrue until then. Therefore, the claim for premium in respect of the extension was not time barred.

Citation
[2004] EWCA Civ 792
Parties
Claimant/respondent: Heath Lambert Limited; First Defendant/appellant: Sociedad de Corretaje de Seguros (SCORT); Second Defendant/appellant: Banesco Seguros CA
Jurisdiction
England and Wales
Judgment Date
23 June 2004
Procedural Posture
Appeal (civil) / Court of Appeal Judgment on Appeal From High Court (commercial Court)
Outcome
Appeals dismissed
Legal Topics
Marine Insurance, Limitation of Actions, Reinsurance, Brokers' Liability, Contract Interpretation
Insurance Law Commercial Law Marine Insurance Limitation of Actions Reinsurance Brokers' Liability Contract Interpretation

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Parties

Heath Lambert Limited

Claimant/respondent

Sociedad de Corretaje de Seguros (SCORT)

First Defendant/appellant

Banesco Seguros CA

Second Defendant/appellant

Procedural Posture

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

Legal Issues

  1. 1 When does a broker's cause of action for unpaid premium accrue under a marine reinsurance contract with a 'premium payable within 90 days of attachment' clause?
  2. 2 Whether the claim for premium in respect of the extension from July to December 1996 was time barred.

Ratio Decidendi

The clause 'Warranted premium payable on cash basis to London Underwriters within 90 days of attachment' means the premium was not payable until the expiry of 90 days from attachment, so the broker's cause of action did not accrue until then. Therefore, the claim for premium in respect of the extension was not time barred.

Court Disposition

Appeals dismissed

Orders

  • First Appellant to pay 50% of Respondent's costs of appeals
  • Second Appellant to pay remaining 50% of Respondent's costs of appeals