SCHIFFSHYPOTHEKENBANK ZU LUEBECK A.G. v. NORMAN PHILIP COMPTON (THE “ALEXION HOPE”)

[1988] 1 Lloyd's Rep. 311

COURT OF APPEAL

Before Lord Justice Purchas Lord Justice Lloyd and Lord Justice Nourse

Insurance (Marine) - Mortgagees’ interest policy - Vessel damaged by fire - Shipowners claimed vessel a constructive total loss - Whether fire an “occurrence” within policy - Whether “passed” meant issued by average adjuster or accepted by hull underwriters - Whether mortgagees could claim under policy.