Liability - Where responsibility lies
Richard Evans gives an overview of some key cases to demonstrate the importance of policy wording in assessing liability in court
Given the recent reminder in Ramco and Resource Industries Limited v Weller Russell & Laws Insurance Brokers, it is essential that brokers ask 'are you liable legally?' of their potential policyholders when obtaining cover for bailment.
Simplifying the facts, Ramco held stock from two sources. The first, the Ministry of Defence, had a contract with Ramco where Ramco was obliged to pay for any loss of stock, whether or not they were liable, although the sum was reduced significantly where it was
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