Oceanus Capital Sarl v Lloyd's Insurance Co SA (The Vyssos) [2025] EWHC 3293 (Comm); [2026] 1 Lloyd's Rep 79

Mortgagee's Interest Insurance revisited

The decision in The Vyssos marks a significant recalibration of English law's treatment of Mortgagee's Interest Insurance ("MII"). The judgment was decided against the backdrop of the Ukraine conflict and heightened war risks trading. In the light of the above, this case required the Commercial Court to assert its view on doctrinal issues that sit at the intersection of marine insurance, secured finance and causation theory.