The appeal is dismissed.

The costs of appeal are assessed against the plaintiff (Counterclaim defendant).

The grounds of appeal are examined.

1. Whether the Plaintiff (Counterclaim Defendant; hereinafter “Plaintiff”) is the insured of the instant insurance contract

A. The instant insurance contract includes a hull insurance contract that covers the loss or damage of a ship as an insured event. The instant ship, which is the subject matter of the insurance, is registered in Cambodia, and the Defendant designated as the insured as the owner of the ship, is a Pakistan corporation, and thus, the instant insurance contract is governed by the Private International Act as it has foreign elements.

The main text of Article 25(1) of the Private International Act provides that “The contract shall be governed by the law that the parties have chosen explicitly or implicitly,” and the English Institute Time Clauses that apply to the insurance contract in this case provide that “this insurance shall be governed by the English law and customs.” Thus, when the interpretation of the insurance contract in this case is at issue, the English law shall be the governing law.

B. There are cases where a person who is not indicated in the insurance contract as the insured under English law can be recognized as the insured.

In other words, if an agent who has been granted the power to represent the conclusion of an insurance contract by the principal does not know the identity of the principal to the other party, but is exposed to the existence of the principal and the other party becomes aware of the existence of the principal, the unexploded principal can bear the rights and duties of the insurance contract.

In addition, even if the other party who entered into an insurance contract with an agent did not know the existence of the principal, the undisclosed principal has the intent to enter into an insurance contract for the principal at the time of entering into the insurance contract by obtaining the power of representation on the conclusion of the insurance contract from the undisclosed principal, and the undisclosed principal has no content prohibiting the other party from becoming a party to the contract.