Insurers Can't Yet Duck Coverage For $40M Citgo Cargo Loss

By Jennifer Mandato · March 16, 2023, 10:36 PM EDT

Underwriters at Lloyd's of London and other insurers cannot yet escape covering Citgo Petroleum Corp. for the loss of $40 million in crude oil cargo resulting from political unrest in Venezuela, a...

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Case Information

Case Title

Citgo Petroleum Corporation v. Ascot Underwriting Limited, for and on behalf of Lloyd's Syndicate 1414 et al

Case Number

1:21-cv-00389

Court

New York Southern

Nature of Suit

Insurance

Date Filed

January 15, 2021