Our aviation insurance specialists are providing coverage advice to a major insurer in relation to multiple billion-pound claims for alleged loss of aircraft and engines currently operating or being stored in Russia. The alleged losses arise from the invasion of Ukraine by Russia on 24th February 2022, and the subsequent imposition of sanctions on Russia.
We are representing certain insurers in six sets of proceedings issued in the English court. These are all listed to be heard concurrently in a single trial set down for 46 days commencing October 2024. The actions have been brought by lessors of the aircraft on Contingent and Possessed Covers claims, the lessors being assureds on these policies.
There are many other related actions. Certain lessors have brought claims on Operators’ policies in the English Courts. There are also claims on Contingent and Possessed Covers commenced in the Irish Commercial Court, and yet further proceedings on aviation covers in the various US Courts.
This is currently one of the largest sets of related insurance and reinsurance claims and one of the largest pieces of litigation before the English courts, both in terms of the procedural weight of the matters and the aggregate value of the sums claimed.