“…ed that the judge had effectively converted the Policy from a physical loss one to a financial loss one. Unlike Engelhart CTP (US) LLC v Lloyd’s Syndicate 1121 [2018] EWHC 900 (Comm) this case was not a case of non-existent goods. In that case it was common ground that no goods were ever shipped. The only loss was a financial one. In contra…”
“…ces, the judge thought that the factual matrix served to underline the need, discussed by Sir Ross Cranston in Engelhart CIP (US) LLC v. Lloyd’s Syndicate 1221 [2018] EWHC 900 (Comm) at [39]-[41] (Engelhart)for there to be clear words before the cover could be held to extend beyond the normal cover in the marine cargo market.…”