North of the Border: The underwriter knows best
In a recent decision, the Court of Session has reiterated that clauses in insurance contracts require to be interpreted in a commercially sensible way and it is the commercial sense of the reasonable underwriter that counts.
The issue for Lord Menzies in Green Island Organic v QBE Insurance Europe (2011) was whether a fish farm was entitled to indemnity under an aquaculture policy in respect of the loss of salmon stocks
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