Great Lakes Insurance vs. Chartered Yachts Miami: Insurance Breach

Great Lakes Insurance SE v. Chartered Yachts Miami LLC involved a marine insurance policy covering an 88-foot Leopard vessel. After seawater entered the vessel, the insurer identified issues involving seaworthiness, safety equipment, survey recommendations, and representations about the operator's Coast Guard license.

The Southern District of Florida concluded that material misrepresentations and failures to comply with policy warranties defeated coverage. The court granted summary judgment to Great Lakes Insurance, treating the policy as void from inception. The case demonstrates the importance of accurate applications, compliance with survey requirements, and strict adherence to marine insurance warranties.

Original article:https://www.whitcomblawpc.com/business-law-blog/marine-insurance-dispute-a-case-of-misrepresentation