The ZouZou – MII, war risks and Venezuelan smuggling revisited


The recent decision of Mr Justice Calver in Piraeus Bank v. Antares (The ZouZou) [2022] EWHC 1169 (Comm) provided guidance regarding mortgagees’ interest insurance and the standard exclusions in a war risk policy. Guy Blackwood KC and Benjamin Coffer appeared for the successful insurers. Nichola Warrender KC chairs the panel which includes Guy Blackwood KC, Michael Davey KC and Benjamin Coffer. Their discussion considers:

  • The extent of the cover for detention under a typical war risks policy
  • The operation of mortgagees’ indemnity insurance
  • The relevance of constructive total loss in the context of MII, and the requirement for notice of abandonment
  • When credit has to be given for the residual value of a vessel