Aviation lessors seek insurance cover for planes detained in Russia

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Six aviation lessor groups are seeking insurance cover for aircraft detained in Russia, in a High Court trial that began on 11 June 2024.

SMBC, Avolon, BOC Aviation, CDB Aviation, NAC Aviation and Hermes brought proceedings against insurers and reinsurers over alleged refusals to indemnify them.

The lessors seek declarations and orders concerning cover under war risk or all risk policies; the insurers deny that either type of policy responds.

Insurers argue, among other things, that the planes have not suffered physical loss, remain subject to repossession, or cannot be covered because of Western sanctions.