SETHI BROTHERS GHANA LIMITED vs. REGENCY ALLIANCE INSURANCE LIMITED.

The plaintiff, Sethi Brothers Ghana Limited, maintained a Marine Open Cover Policy with the defendant, Regency Alliance Insurance Limited, covering shipments of goods including reinforcing steel bars imported from China. The plaintiff's cargo was damaged following a collision involving the vessel MV Rui Chang Hai during its voyage. The plaintiff filed a claim for damages under the insurance policy. The defendant admitted the policy and the damage but alleged the plaintiff breached the policy by failing to pay premiums properly and by not disclosing knowledge of the accident at the time of declaration, invoking the principle of utmost good faith (uberrimae fidei). The plaintiff denied these allegations and claimed the defendant issued a discharge form committing to pay $2,355,135.14 but failed to honor payment.

By an amended writ of summons and a statement of claim, the plaintiff company claims against the defendant company. 1. A declaration that the Defendant is in breach of the contract of insurance. 2. A declaration that the Defendant acted fraudulent by attaching in the said policy on page 19 a limitation clause/wrong endorsement to the Plaintiff in the name of Yvonne Holdbrook. 3. A declaration that the Defendant by his actions is in breach of the National Insurance Commission’s rules. 4. An order ordering the Defendant to pay the Plaintiff the sum of US$2,355,135.14. 5. An order that the said sum in paragraph 4 above be paid with interest, from the 3rd day of February 2015 until the day of Judgment or sooner at the appropriate rate. 6. Any or other relief. After the service on the defendant of the writ of summons and statement of claim, the defendant entered an appearance and filed a statement of defence and, after an unsuccessful pre-trial settlement, issues were set down and.....