Court of Appeal gives landmark ruling on mortgagees’ interest insurance wording

Appeal court provides clear endorsement of the protective function of MII in forged war risk policy case

IN OCEANUS Capital SARL v Lloyd’s Insurance Company SA (M/V Vyssos) [2026], the UK’s Court of Appeal upheld the Commercial Court decision in favour of a mortgagee lender (Oceanus) that had claimed for the constructive total loss of  Vyssos after it was struck by a mine in Ukrainian waters.