ABSTRACT
In the London market only authorised brokers can access the Lloyd's underwriters, therefore appointing a broker is compulsory for an assured who would like to insure a marine risk in the Lloyd's market. The Court held that it was understood that the goods were to be shipped at Malaga, and the broker ought not to have effected a policy, which can only attach on goods shipped at Gibraltar. The brokers argued that the insurers were negligent in that they failed to react when the brokers gave them notice of the forty-eight month clause by sending them the order letters, the cover notes and the contract wording. If contributory negligence is alleged on the assured's side in terms of keeping the relevant documents it is likely that the Court would hold that the assured had his right to rely on the broker's professionalism and performing his duties under the contract.
