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Weekly Insurance and Reinsurance Update: Ukraine aviation claims, cyber outage fallout, property/marine losses, FCA enforcement, EIOPA/IAIS and Solvency II developments, case law and key dates

Published on: 15 August 2024

Published by a LexisNexis Insurance & Reinsurance expert
Legal News
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Article summary

In this issue:

  • Ukraine conflict
  • Types of insurance
  • Market practice
  • Regulation
  • New and updated content
  • Case trackers
  • Key dates
  • Daily and weekly news alerts
  • LexTalk®Insurance: a Lexis®Nexis community

Ukraine conflict

Aviation claims

This week:

  • Two insurers, acting separately, rejected responsibility for US$325m in losses pursued by a consortium of aircraft lessors after jets were left on the ground in Russia following its invasion of Ukraine. See News Analysis: Chubb, Fidelis deny liability for planes stranded in Russia
  • A group of reinsurers declined to pay out in a US$44m dispute over the alleged loss of an aircraft leased to a Russian airline, asserting the plane is not lost and would not fall within the scope of the policy. See News Analysis: Plane stuck in Russia 'not lost', reinsurers argue
  • Fidelis Underwriting Ltd stated it has no liability for nearly US$45m sought by an Irish aircraft operating company for planes stranded in Russia, saying the operator made a commercial decision to retain the aircraft...

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