Offshore construction insurance: existing property

Technip Saudi Arabia Ltd v Mediterranean and Gulf Insurance and Reinsurance Co [2024] EWCA Civ 481; [2024] Lloyd's Rep IR 428 was an appeal from the decision of Jacobs J, [2024] Lloyd's Rep IR 320, rejecting a claim under an offshore construction insurance policy written on the WELCAR form. The appeal was on one point only, namely the interpretation of an existing property endorsement. However, a number of other points were discussed by the judge and they are worthy of note here.

Technip : the facts