Insight and Intelligence on the London & International Insurance Markets 24 Jul 2017
(Re)insurers sue El Faro data provider for $49mn
- 27 June 2017
Several Lloyd's and US (re)insurers have launched a $49mn legal action against Norwegian weather data provider StormGeo alleging defective read-outs from its system contributed to the sinking of the El Faro in 2015, according to court documents.
Lawyers for the (re)insurance companies, which include QBE, Great American and various Lloyd's carriers, argued that StormGeo's Bon Voyage 7 (BVS 7) software provided "outdated and erroneous" data on Hurricane Joaquin's path, into which the ship sailed and later sank.
The claimants have...
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