Lloyd's Insurers Fight Back Against €30M Ship Lawsuit

Law360, London (March 29, 2021, 11:52 AM BST) -- A group of Lloyd's of London insurers has fought back against a Maltese yachting company that is trying to claim close to €30 million ($35 million) for a damaged ship, saying the vessel had existing defects.

Arch Managing Agency, which insured a boat owned by a Maltese company called IAT, said in a March 18 defense to the counterclaim that it should not have to pay the €30 million that IAT is asking for. Arch has said that the boat, the Ice Angel, had existing welding defects and distortions before it ran aground off the coast of Greenland in 2018, the insurers...

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