Insurance Policies without Limits: More Pitfalls for Underwriters
April 03, 2020
Insurance and Reinsurance
By Harmon C. Hayden
In the recent Supreme Court of British Columbia decision in Surespan Structures Ltd. v. Lloyds Underwriters, the Court considered issues of insurance limits where the policy failed to provide a specific limit for one type of coverage notwithstanding broader language suggesting limits for all coverage available. The Court also considered the issue of commercial reality in the absence of specific limits of coverage.