Oceanus Capital SARL v Lloyd's Insurance Company SA (The "Vyssos") [2026] EWCA Civ 863
The Vyssos, trading in Ukrainian waters, struck a mine and became a CTL. The owners’ war risk insurance did not respond, due to breach of trading warranties. The Court upheld the rulings that the same breach by owners constituted an insured peril under Oceanus’ (mortgagees) MII policy; the loss was fortuitous (Oceanus’ consent having been induced by a forged AWR cover note), and they were able to recover under their MII policy.