A new duty for marine insurers

摘要

Last year the Ventouris-group owner of the Grecia Express won its claim against Hellenic Mutual for the vessel's loss through sabotage, in a judgement that caused some surprise in London, though rejoicing in Piraeus. Hellenic's appeal, due to be heard next April, was withdrawn following a settlement agreed between the parties, and with it a challenge to an important new ruling that insurers have an equitable duty of 'utmost good faith', with retrospective effect.