A recent Supreme Court judgment has emphasised how important it is to define the scope of insurance in the policy and to keep the policy updated regarding changes in a business environment. The case arose after twenty-seven vehicles were damaged in a flood at a port warehouse. The warehouse was not indicated in the insurance contract as a place of storage and the insurer did not know that the cars were stored there.
Partners Matti Komonen and Herman Ljungberg from Hammarström Puhakka Partners, Attorneys Ltd, have written an update on this matter. The update titled “Right to indemnities when policyholder fails to notify of increased risk?” has been published in the International Law Office’s newsletter.