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, built in 2007, was owned by Lyra Mare and managed by Nava Shipping Ltd. Vyssos 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, issued by Vessel Protect (on behalf of Lloyd's underwriters). The policy was valued in the sum of US$5.8 million.