Lloyd's Underwriter Sues To Cap Yacht Payout At €6.5M

Law360, London (December 22, 2020, 3:16 PM GMT) -- A Lloyd's of London underwriter is suing a Maltese yachting company to cap its payout at €6.5 million ($7.9 million) after the firm tried to recover the total cost of a damaged vessel under two policies worth a combined €37 million.

Arch Managing Agency, which insured a boat owned by a Maltese company called IAT, said in a Dec. 4 complaint newly made public at the High Court that IAT is entitled to just €6.5 million under the policy after the crash.

The boat, called the Ice Angel, ran into trouble off the coast of Greenland in 2018 and had to be...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!