2nd Circuit Affirms That Insurrection Triggered CITGO Marine Reinsurance Coverage

( October 30, 2025, 1:05 PM EDT) -- NEW YORK — The Second Circuit U.S. Court of Appeals unanimously affirmed a lower court ruling that granted a $54.2 million judgment to CITGO Petroleum Corp., holding that the 2020 seizure of crude oil at a Venezuelan port arose from an “insurrection” as defined in its marine cargo reinsurance contract and that losses from the seizure were accordingly covered under the contract’s war risk provisions....

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