Maritime Claims

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Maritime Claims

• An Underwriters Perspective
• Eamonn Magee LLB. BL.

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Marine Insurance Act 1906.

• Section 2.
• Mixed Sea and Land Risks.
• A contract of Marine Insurance may, by its
  express terms, or by usage of trade, be extended
  so as to protect the assured against losses on
  inland waters or on any land risk which may be
  incidental to any sea voyage.

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Introduction

• The role of IUMI and other international
  organisations.
• Some marine Global statistics.
• The role of International Conventions in
  Liability Regimes.
• Typical marine policy Covers.
• Major casualty issues ( Napoli / Rena / APL
  Panama / Costa Concordia ).
• General Average Salvage.

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International Union of Marine Insurance

• Professional body run by its marine membership.
• Communications platform.
• Affiliate membership ICS,IGP,IACS,BIMCO,CMI,UN
• Technical Committees Cargo ,Ocean Hull, IFY,
  Energy / Offshore, Facts Figures, Legal
  Liability, Loss prevention
• www.iumi.com

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Facts Figures IUMI San Diego 2012

• Global Marine Premium - 31.9 USD
  bn.
• (reported)
• Cargo - 54.0 (17.22
  bn. )
• Hull - 26.2 (
  8.35 bn. )
• Energy / Offshore - 14.2 ( 4.52 bn.
  )
• Marine Liabilities - 5.7 ( 1.81
  bn. )
• Total Estimated Global premium ?

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Accumulations.

• 15,000 teu - ( 50k ) US 750,000,000
• High Value 50,000,000
• Hull Value 175,000,000
• LOF 15/ 20 150,000,000
• Total ( one vessel ) 1,125,000,000
• Before GA, Wreck Removal, Collision
  Considerations, Legal Costs .

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Cargo / Loss Prevention

• Vessel vetting Crisis management plans.
• Communications issues.
• Piracy.
• Risks posed by overweight containers.
• New generation container vessels.
• Modern salvage challenges.

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Ocean Hull

• Development of technology on ships.
• Accumulation factors.
• The growth in LNG.
• Nuclear powered vessels of the future.

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Legal Liability Committee

• Wreck removal issues / costs in the Energy
  sector.
• Solid bulk cargo liquefaction issues.
• Piracy / Armed guards on merchant ships /
  Governmental responses.

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Institute Time Clauses Hull 1.11.95

• Perils Clause 6.1 Perils of the sea, Fire,,
  Explosion, Earthquake, Piracy, Contact etc.
• 6.2 - Crew Negligence, Repairers Negligence,
  Damage resulting from Latent Defect. (absent any
  want of due diligence ).
• Pollution Hazard Clause 7. Damage to vessel from
  Governmental intervention on pollution.
• ¾ Collision Liability Clause 8.
• Salvage GA Clause 10.

• Clause 8.4 Exclusions on HM policy.
• Removal and / or disposal of wreck or cargo.
• ¼ Collision Non Hull Machinery ( Excess )
  collision Liabilities.
• Loss of Life / Personal Injury.
• Cargo on Insured Vessel.
• Pollution Liabilities.

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General Average

• Definition.
• York Antwerp Rules.
• Who benefits from General Average ?
• The role of the CMI.
• Do we still need General Average ?

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Salvage

• The Salvage Convention.
• Salvage contracts.
• Logistics.
• The Emergency room for Underwriters.

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Costa Concordia
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Costa Concordia Issues

• Logistics,Financial Securities, Arrest ?
• Liability,Athens Convention, Limitation,
• Covers HM, PI, Policy Limits,Wilful Misconduct
  ?
• Salvage Contracts, Wreck Removal Costs,
• Environmental Pollution,
• Criminal Law Ramifications ?

T
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Questions ?

• Or
• eamonn_at_ocslegal.ie