The General Division of the High Court of Singapore (Court) has, in a significant decision for the marine insurance and ship finance industry, provided clarification on a number of issues of marine insurance law, including questions concerning when a loss may be caused by “perils of the seas”, warranties which “define risk as a whole” for the purposes of sections 10 and 11 of the UK Insurance Act 2015, and whether coverage may be void for being a gaming or wagering contract: Oversea-Chinese Banking Corporation Limited v Argoglobal Underwriting Asia Pacific Pte Ltd and others [2025] SGHC 82.
Our Deputy Chairman Tan Chee Meng SC, Partners Tan Kai Yun and Deya Dubey, Senior Associates Teo Jen Min and Jayakumar Suryanarayanan, and Associates Jerrick Lim and Alexis Loy successfully acted for Oversea-Chinese Banking Corporation Limited (OCBC), the mortgagee, to obtain compensation under a hull and machinery marine insurance policy in respect of the capsize of a lift boat OCBC financed.
We have prepared an update on the key issues and guidance provided by the Court.
TAN Chee Meng, Senior Counsel
Deputy Chairman
d +65 6416 8188
e cheemeng.tan@wongpartnership.com
Click here to view Chee Meng’s CV.
TAN Kai Yun
Partner – Restructuring & Insolvency and Special Situations Advisory
d +65 6416 6869
e kaiyun.tan@wongpartnership.com
Click here to view Kai Yun’s CV.
Deya DUBEY
Partner – Energy, Projects and Construction
d +65 6517 8522
e deya.dubey@wongpartnership.com
Click here to view Deya’s CV.