Court tests nature and scope of mortgagees' interest insurance

Matthew Dow and Richard Cooper, at Hill Dickinson, review a recent court case emerging from the conflict in Ukraine

In Oceanus Capital Sarl v Lloyd's Insurance Co SA (The Vyssos) [2026] EWCA Civ 863; [2026] 2 Lloyd's Rep 115, the English Court of Appeal was asked to determine whether insurers under a mortgagees' interest insurance (MII) policy were entitled to decline cover after the insured vessel was declared a constructive total loss.