Quadra Commodities S.A. v XL Insurance Company SE and Others [2023] EWCA Civ 432 – 21 April 2023 (Sir Julian Flaux LJ, Popplewell LJ, Snowden LJ)

Quadra claimed that grain cargoes it purchased, stored in silos, were fraudulently misappropriated by sellers and sought reimbursement under its marine cargo policy. The CA confirmed the Court below, ruling that, despite the goods being unascertained, there was nonetheless an insurable interest, engaging XL's liability to Quadra.