Friday, April 26, 2024

Nordstream AG and the insurance case

The insurers of Nord Stream have rebuffed claims in their written defense filed at London's High Court, asserting that their policies do not cover damages incurred by gas pipelines due to explosions in 2022, citing the cause as war-related.  Insurers said Nord Stream's policy did not cover damage "directly or indirectly" resulting from war, military actions or the detonation of explosives

Nord Stream is pursuing compensation exceeding 400 million euros ($427 million) from its insurers for the explosions that inflicted damage on pipelines intended for the transportation of Russian gas to Germany.

The insurers also stated that the policy does not cover any damage which happened "under the order of any government".

"The defendants will rely on ... the fact that the explosion damage could only have – or, at least, was more likely than not to have – been inflicted by or under the order of a government," the insurers' lawyer said.

Gazprom, which built the pipelines, and Nord Stream AG did not reply to requests for comment.

link via ErkPerk - here



No comments:

Post a Comment