{"id":2763,"date":"2025-10-30T13:53:35","date_gmt":"2025-10-30T13:53:35","guid":{"rendered":"https:\/\/www.insuracarelife.com\/blog\/citgo-compels-insurers-to-pay-54-million-for-venezuela-oil-cargo-loss\/"},"modified":"2025-10-30T13:53:35","modified_gmt":"2025-10-30T13:53:35","slug":"citgo-compels-insurers-to-pay-54-million-for-venezuela-oil-cargo-loss","status":"publish","type":"post","link":"https:\/\/www.insuracarelife.com\/blog\/citgo-compels-insurers-to-pay-54-million-for-venezuela-oil-cargo-loss\/","title":{"rendered":"CITGO compels insurers to pay $54 million for Venezuela oil cargo loss"},"content":{"rendered":"<div>\n<p>CITGO, anticipating potential risks, had secured a marine cargo insurance policy from a syndicate of major reinsurers, including several Lloyd\u2019s syndicates. The policy, effective from June 2018 to June 2019, provided up to $100 million in coverage and specifically included the \u201cInstitute War Clauses (Cargo).\u201d These clauses covered losses resulting from \u201cwar civil war revolution rebellion insurrection, or civil strife arising therefrom,\u201d as well as \u201ccapture seizure arrest restraint or detainment, arising from risks covered under 1.1 above, and the consequences thereof or attempt thereat\u201d.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CITGO, anticipating potential risks, had secured a marine cargo insurance policy from a syndicate of major reinsurers, including several Lloyd\u2019s syndicates. The policy, effective from June 2018 to June 2019, provided up to $100 million in coverage and specifically included the \u201cInstitute War Clauses (Cargo).\u201d These clauses covered losses resulting from \u201cwar civil war revolution [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1296,1684,1172,374,1312,511,760,215,1685],"class_list":["post-2763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-cargo","tag-citgo","tag-compels","tag-insurers","tag-loss","tag-million","tag-oil","tag-pay","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/2763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/comments?post=2763"}],"version-history":[{"count":0,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/posts\/2763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/media\/2764"}],"wp:attachment":[{"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/media?parent=2763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/categories?post=2763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.insuracarelife.com\/blog\/wp-json\/wp\/v2\/tags?post=2763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}