14th Jan 2005
 Lloyd’s Rep IR 490;  1 Lloyd’s Rep. 547
Stephen Kenny acted for the claimant shipowners, whose hull and machinery policy on their trading vessel “Thor II” was found by the Court to be an unvalued policy. A claim to rectify the policy failed.
Insurance (marine, hull and machinery) – Constructive total loss of insured vessel – Measure of indemnity – Whether policies valued or unvalued – Whether policies should be rectified – Whether insurers were estopped from denying that policies were valued – Insurable value