Post history - 30 years ago: Insurers wait for Salem appeal result
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 30 years ago reveals.
Marine insurers are waiting for the outcome of the appeal in the £10m Salem oil cargo case, which was heard in the High Court last April.
It is being brought forward because of its importance to Lloyd's and other underwriters, but is still unlikely to be heard before this winter.
Even then, the issues may go to the House of Lords for determination on legal grounds.
Judgment was given for Shell International Petroleum against various Lloyd's syndicates for the recovery of $56m, alleged to be due for the loss of the cargo when the ship was diverted to South Africa and later sunk last year.
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