UK court rejects Chubb and Fidelis bid to recover ~$340mn in Russia war-risk claims for aircraft lost to lessors
The Commercial High Court of England and Wales rejected claims by Chubb European Group and Fidelis Insurance Ireland seeking to recover about USD340 million from war-risk underwriters over payouts tied to aircraft lost to lessors after Russia’s full-scale invasion of Ukraine. The ruling limits insurers’ ability to claw back losses under similar war-risk structures.