Acting for several Underwriters from the London Market, the firm successfully defended a claim lodged by the insured before the Court of Vicenza (Italy) for the payment of the indemnity under a Jewellers’ Block Policy for an alleged robbery at premises. In its Judgement, the Court of Vicenza ruled that the behaviour of the insured is characterised by gross negligence, so as to exclude coverage, pursuant to art. 1900 of the Italian Civil Code.
(1) Article 1900 of the Italian Civil Code (“codice civile”) – named Loss caused by fraud or gross negligence of the Insured – provides that “The insurer is not liable for losses caused by the fraud or gross negligence of the contracting party, of the insured, or of the beneficiary, unless there is an agreement to the contrary for cases of gross negligence.”