During an international carriage the vessel encountered heavy weather, as a result of which the cargo (equipment for a gas‑chemical complex) sustained serious damage. The risk of loss of or damage to the cargo was insured by KIAP Law Firm's client. In addition, KIAP Law Firm's client was the liability insurer of the transport operator for the period of that carriage. The amount of loss caused by the damage to the cargo was approximately EUR 5 billion.
The case was complicated by several factors: the multiplicity of transport‑forwarding contracts, the foreign element on the part of the seller and the consignor and a potential conflict between the two insurance contracts.
Within a short timeframe, KIAP Law Firm's lawyers analysed the facts of the case and prepared recommendations on the possible resolution of the insurance dispute, in particular assessing the potential claims of both insureds for payment of insurance indemnity.
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