Franco Moroney Buenik LLC worked closely with Florida counsel in a declaratory judgment action filed in the U.S. District Court for the Northern District of Illinois to obtain summary judgment in favor of a maritime insurer against its insured and a loss payee. The insured and loss payee sought coverage under a policy of marine insurance issued by the insurer for the loss of a high performance power vessel that allegedly had been stolen. The insurer denied coverage for the loss and sought rescission of the insurance policy based upon numerous misrepresentations made by the insured on the insurance application. On summary judgment, the Court agreed with the insurer that the insured’s several misrepresentations and non-disclosures of fact on the insurance application concerning his prior experience in owning and operating any type of boat voided the policy under both federal admiralty law and Illinois state law.
