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Limiting Claims in Maritime Law – USA

12 May 2021

Online
Limiting Claims in Maritime Law – USA

CPD Certified

IUA market briefing events are certified as being suitable for CPD purposes. To obtain a self assessment form for any particular event please email Deborah Finch (deborah.finch@iua.co.uk). These forms will be issued after each individual event upon request.

This second market briefing in a series of JMCC webinars regarding maritime issues. This event will focus on limitation in maritime casualties for USA.

Description

A distinctive feature of maritime law is the privilege accorded to a shipowner and certain other persons (such as charterers in some instances) to limit the amount of their liability, under certain circumstances, in respect of tort and some contract claims. When faced with a maritime casualty, insurers will seek to assess the financial impact of the incident and whether their client is afforded the benefits of limiting liability, or not. Or indeed if some parties are unable to recoup all of their losses due the the particular limitation statute or convention in place.

Limiting Claims in Maritime Law – USA

With regards to United States Maritime Law; the Limitation of Liability Act of 1851 states that the owner of a vessel may limit damage claims to the value of the vessel at the end of the voyage plus “pending freight” as long as the owner can prove any negligence by the vessel was outside the owner’s “privity or knowledge”. However with the value of maritime claims in the USA ever increasing; insurers are sometimes left wondering if filing for limitation is achieving the desired outcome.

At this JMCC market briefing, Pat McShane of Frilot LLC, New Orleans, will navigate the audience through the complexities of maritime limitation in the USA.

Speaker

Details

Date:
12 May 2021
Time:
3:00pm - 4:00pm BST
Category:
, ,

Venue

This is an online event

Organiser

International Underwriting Association
Phone:
+44 (0)20 7617 4444
Email:
info@iua.co.uk
Website:
https://www.iua.co.uk/

Other

CPD text
IUA market briefing events are certified as being suitable for CPD purposes. To obtain a self assessment form for any particular event please email Deborah Finch (deborah.finch@iua.co.uk). These forms will be issued after each individual event upon request.
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