Engelhart CTP (US) LLC v Lloyd's Syndicate 1221 for the 2014 Year of Account and others

Marine insurance – Perils insured against. The claimant company's claim against the defendant underwriters failed, where a cargo of copper ingots purchased by the claimant had not been supplied, as the result of fraud. The Commercial Court held that the relevant cargo insurance policy did not cover circumstances where a cargo had never existed. Nothing in the factual matrix could lead to the defendants encompassing economic loss resulting from the acceptance of fraudulent bills of lading in respect of a non-existent cargo.

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