Insurers Ordered To Repay Yacht Owner's €250K Repair Bill

Law360, London (October 1, 2020, 2:51 PM BST) -- A judge ruled on Thursday that the Turkish-American owner of a luxury yacht is entitled to recover from insurers some €250,000 ($295,000) spent repairing the vessel after it ran aground in some the world's busiest waters two years ago.

Mark Pelling QC, sitting as a judge of the High Court in London, said it was "reasonable" for the owner of the 25-meter Queen B Speed yacht to ship damaged parts back to the manufacturer in Italy for repairs by specialized technicians.

The ruling leaves insurers including Tokio Marine, XL Catlin, Star Stone Insurances and a broker, Pantaenius UK Ltd., on the...

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