Gulfstream Cargo, Ltd. v. Reliance Insurance Company

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that a material misrepresentation or omission voids a policy even if the failure arose from “mistake, accident, or forgetfulness”
• considering insured’s argument that insurer waived right to avoid policy for insured’s lack of full disclosure where facts communicated to insurer, though not complete, were sufficient to have caused reasonable underwriter to make further inquiry
• lawsuit relevant only to establish that owner-assured had actual knowledge of conditions and that the conditions were of some significance
• affirmative misrepresentation of condition of vessel voids the policy; insured failed to disclose a second survey report showing vessel as unfit for any use offshore
• policy voided where vessel was \even unfit for dry docking\ and the survey report was concealed
• underwriter has “absolute right to demand full, open, honest, complete, accurate disclosure of facts then well known which bore directly upon the condition of the vessel”

Source: CourtListener parenthetical corpus (CC0).