OCEANUS CAPITAL SARL V LLOYD'S INSURANCE CO SA (THE "VYSSOS")

[2026] EWCA Civ 863, Court of Appeal, Lord Justice Newey, Lord Justice Males and Lord Justice Popplewell, 6 July 2026

Insurance (marine) – Mortgagee's Interest Insurance – Nature of interest under MII policy – Proximate cause of loss under MII policy – Privity of assured – Fortuity – Marine Insurance Act 1906, sections 14, 39 and 55

The cargo ship Vyssos, owned by Lyra Mare, was insured under a marine war risks policy for the period 3 February 2023 to 2 February 2024 on terms equivalent to the Institute War and Strikes Clauses Hulls.