The reference in Malec v J C Hutton Pty Limited to a chance of less than one per cent as speculative does not establish a standard or benchmark; whether a lost chance is speculative involves an evaluative judgment on all the circumstances. A plaintiff claiming loss of a commercial opportunity to obtain more favourable insurance must adduce evidence beyond general expert assertions about market conditions — objective evidence of an insurer's actual refusal to provide cover may be given determinative weight. An offer of compromise of modest amount may constitute a genuine offer of compromise where the offeree's claim is weak.
The full text is available to signed-in members, including the 33 later cases that cite this judgment.