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Norton Rose Denies Liability In Bank's Cargo Insurance Suit

Law360, London (March 12, 2019, 6:47 PM GMT) -- Norton Rose Fulbright has said it cannot be held liable for any loss suffered by an insurance broker being sued alongside 14 insurers by ABN Amro, denying claims that it negligently drafted a cargo insurance policy at the center of a High Court lawsuit between the bank and insurers.

The law firm said in court documents filed March 7 that the marine cargo policy "clearly and indisputably" covered Icestar BV, a commodity finance provider acquired by ABN Amro in 2018, against losses in the event its counterparties defaulted on their transactions.

ABN Amro is suing intermediary Edge Brokers and a group...

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