Court rejects $71mn war claim in welcome ruling for marine underwriters
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Court rejects $71mn war claim in welcome ruling for marine underwriters

Samuel Casey
May 17, 2022
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The UK Commercial Court has rejected a $71mn marine war claim brought against multiple Lloyd’s insurers by Piraeus Bank over a vessel detained in Venezuela in 2015, in a ruling that will be welcomed by marine insurers.

Piraeus Bank was the mortgagee of the Zouzou, which had war cover in place with the Hellenic War Risks Club for a total of $55mn, with a mortgagee’s interest insurance policy covering the bank’s interest.

The

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Samuel Casey
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