SVERIGES ANGFARTYGS ASSURANS FORENING (THE SWEDISH CLUB) AND OTHERS V CONNECT SHIPPING INC AND ANOTHER (THE "RENOS")

[2018] EWCA Civ 230, Court of Appeal, Sir Geoffrey Vos, Lord Justice Simon and Lord Justice Hamblen, 19 February 2018

Insurance (marine) - Vessel damaged by fire - Whether vessel a constructive total loss or a partial loss - Whether notice of abandonment given in due time - Assessment of amount of loss - Whether salvage costs incurred prior to notice of abandonment could be included - Appropriate level of contingency for repair costs - Suing and labouring - Marine Insurance Act 1906, sections 60 and 62

The vessel Renos was insured for US$12 million under a marine policy, and a further US$3 million under an increased value policy. The vessel was damaged by fire on 23 August 2012. The assured gave a notice of abandonment and claimed that the vessel was a constructive total loss, whereas the insurers asserted that there was a partial loss only.