SUMMARY The First and Second Plaintiffs (“The Plaintiffs”) are respectively employed as the Chief Operating Officer and Chief Executive Officer, in a company duly registered and incorporated in terms of the company laws of the State of Delaware, USA named Reliance Inc (“FMLR”). FMLR is wholly owned by a Netherlands foundation, FML Asset Management (“FMLAM”).
Introduction This article deals with the topic of misrepresentations in the insurance industry and explores instances where insurers can repudiate insurance policies. Good Faith in Insurance Policies In the case of Mutual & federal Insurance Co Ltd v Oudtshoorn Municipality (1985) (1) SA 419 (A), the courtheld that all contracts are subject to good faith