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PIRAEUS BANK AE v ANTARES UNDERWRITING LTD AND OTHERS

LLR: Insurance & Reinsurance Plus

PIRAEUS BANK AE v ANTARES UNDERWRITING LTD AND OTHERS

[2022] Lloyd's Rep. IR Plus 28

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Calver

Insurance (marine) – Mortgagees’ interest insurance (MMI) – Vessel detained in Venezuela on suspicion of smuggling oil – Claim under war risks policy rejected – Whether MMI insurers were liable – Whether detention excluded from war risks policy – Whether vessel was a constructive total loss – Marine Insurance Act 1906, section 60 – Effect on MMI policy of excluded loss under war risks policy.

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