Court of Appeal upholds decision in forged war risk policy case

Lloyd’s Europe must pay out on mortgagee interest insurance policy after lenders hoodwinked

THE Court of Appeal has upheld last year’s High Court order that Lloyd’s Insurance Company must pay $3.7m under a mortgagee’s interest insurance (MII) policy, after a vessel that forged its war risk cover certificate was declared a total loss after hitting a mine in the Black Sea.