Rule of contra proferentem protects insured from unfavourable interpretation of an ambiguous term

Haris Marine Products Vs Export Credit Guarantee Corporation (ECGC) Limited (Supreme Court of India) Facts- The appellant is an exporter of fish meat and fish oil, whereas the respondent (hereafter, “ECGC”) is a government company. ECGC provides a range of credit risk insurance cover to exporters. On 13.12.2012, the appellant paid premium to ECGC for the Policy, which covered foreign buyer’s failure to pay for goods exported. The coverage of this Policy, (with effect from 14.12.2012-13.12.2013), was for ₹ 2.45 crores. The vessel set sail on 15.12.2012. The Bill of Lading was prepared o...