UK HIGH COURT: SECONDARY SANCTIONS NO GROUNDS TO AVOID INSURANCE POLICY

Out-Law on 22nd October published an article commenting on the recent decision in Mamancochet Mining Ltd v Aegis Managing Agency & others.  It summarises the decision that an insurer could not rely on a sanctions-related exclusion clause to resist paying out on a marine insurance policy in the context of the impending reinstatement of US secondary sanctions against Iran, the High Court has ruled.  A lawyer at the law firm behind Out-Law comments that judgment in the case was expedited so that it could be handed down before the reinstatement of the second wave of US secondary sanctions on 4th November.

https://www.out-law.com/en/articles/2018/october/secondary-sanctions-no-grounds-avoid-insurance-policy/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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