Insurers Cite Course Change To Defend $1.6M Oil Tanker Suit

Law360, London (April 15, 2021, 3:46 PM BST) -- Allianz and four other insurers have hit back against a $1.6 million lawsuit brought by commodities company Glencore over an oil tanker that ran aground, saying that the insurance policies are void because the vessel changed course.

The insurers — including ICICI Lombard General Insurance Company Ltd. and an Allianz joint venture company in India, Bajaj Allianz General Insurance Company Ltd. — told the High Court on Tuesday that the mishap that befell the oil tanker was not covered under any insurance contracts.

Glencore sued the five insurers at the High Court in 2020 in an attempt to claw back $1.6 million...

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