The Function of Protection & Indemnity Marine Insurance in Relation to Ship Owner ́S Liability for Cargo Claims
The Function of Protection & Indemnity Marine Insurance in Relation to Ship Owner ́S Liability for Cargo Claims

Author: Joseph Tshilomb JK, LLM;MSc

Publisher: AuthorHouse

Published: 2016-03-04

Total Pages: 109

ISBN-13: 1524628840

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In the early days of shipping and international maritime trade many more casualties occurred at sea. Ever since, ship owners liability for cargo claims has been increasing both in number and in cost in spite of the huge technical development in international maritime transport. In order to make it easier for ship owners to operate safely and efficiently the Protection and Indemnity appeared around 1870 as mutual marine insurance. Besides Hull & Machinery and Cargo Insurance offered on the international commercial market in insurance, Protection and Indemnity Insurance (known under the acronym P&I) is a ship owners insurance cover for legal liabilities to third parties. This cover is generally achieved by entering the ship in a mutual insurance club. Nowadays, the mutuality is performed by an underwriter who endeavors to see that each owner carries his fair share of the risk. The members of P&I clubs are ship owners, charterers or ship management companies. At present, a major function of the Protection and Indemnity insurance is to cover the ship owner for legal and contractual liability for loss of cargo or damage to cargo if there has been a breach of the carriage contract. This liability is called Third party liability. The ship owner will handover the cargo claim to his P&I Club. In order to clarify this liability, Article 3, Paragraph 2 of the Hague Visby rules stipulates: Subject to the provisions of Article 4 the carrier shall properly and carefully load, handle, stow, carry, keep, care for and discharge the goods carried. Therefore, the focus in this research study is placed on the function of Protection and Indemnity insurance covering the ship owners liability for damage to cargo or loss of cargo.

Effects of Insurance on Maritime Liability Law
Effects of Insurance on Maritime Liability Law

Author: Muhammad Masum Billah

Publisher: Springer Science & Business Media

Published: 2014-01-07

Total Pages: 330

ISBN-13: 331903488X

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The book examines how the absence of insurance in the past led to some special maritime liability law principles such as ‘general average’ (i.e., losses or expenses shared by all the parties to a maritime adventure) and the limitation of shipowners’ liability. In the absence of insurance, these principles served the function of insurance mostly for shipowners. As commercial marine insurance is now widely available, these principles have lost their justification and may in fact interfere with the most important goal of liability law i.e., deterrence from negligence. The work thus recommends their abolition. It further argues that when insurance is easily available and affordable to the both parties to a liability claim, the main goal of liability law should be deterrence as opposed to compensation. This is exactly the case with the maritime cargo liability claims where both cargo owners and shipowners are invariably insured. As a result, the sole focus of cargo liability law should be and to a great extent, is deterrence. On the other hand in the vessel-source oil pollution liability setting, pollution victims are not usually insured. Therefore oil pollution liability law has to cater both for compensation and deterrence, the two traditional goals of liability law. The final question the work addresses is whether the deterrent effect of liability law is affected by the availability of liability insurance. Contrary to the popular belief the work attempts to prove that the presence of liability insurance is not necessarily a hindrance but can be a complementary force towards the realization of deterrent goal of liability law.

Compulsory insurance (third party liability) requirements for fishing vessels: a case for the introduction of compulsory fishing vessel insurance in the Caribbean
Compulsory insurance (third party liability) requirements for fishing vessels: a case for the introduction of compulsory fishing vessel insurance in the Caribbean

Author: Food and Agriculture Organization of the United Nations

Publisher: Food & Agriculture Org.

Published: 2020-02-28

Total Pages: 119

ISBN-13: 9251322066

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This circular summarizes the findings of an FAO assessment of legal frameworks in five Caribbean countries (Barbados, Dominica, Saint Kitts and Nevis, Saint Vincent and the Grenadines and Trinidad and Tobago) in terms of entry points for introducing fishing vessel insurance. It also contains an overview of international conventions governing marine insurance and examples of mandatory fishing vessel insurance legislation from selected countries. The origins of compulsory third party liability insurance in the maritime industry and its introduction in international instruments (e.g. the Bunkers Convention, the Wreck Removal Convention, and the EU Directive 2009/20/EC) are discussed. The benefits of introducing compulsory third party liability insurance for everyone involved in the fisheries industry (claimants, shipowners, and society in general) in line with those in the merchant shipping industry are presented. Model regulations to facilitate introduction of compulsory third party liability insurance for fishing vessels are provided, as well as information to support fishers’ awareness raising and capacity building on this subject. This circular also contains the proceedings of a Stakeholder Meeting on Fisheries Insurance Legislative Frameworks for the Caribbean, held on 15 November 2019 in Barbados, where the assessment findings, best-practices and model regulations were presented. The circular makes a case for introduction of compulsory third party liability insurance for fishing vessels in the Caribbean, and claims that such insurance contributes to improving the working conditions of fishers, their safety and to responsible fishing practices.

Fishing Vessel Safety
Fishing Vessel Safety

Author: National Research Council

Publisher: National Academies Press

Published: 1991-02-01

Total Pages: 303

ISBN-13: 0309043794

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In response to a continuing high loss of commercial fishing vessels and crews, the U.S. Congress has mandated development of new safety requirements for the industry. This volume provides a blueprint for an integrated national safety program that responds realistically to industry conditions, with priority on the most cost-effective alternatives. Fishing Vessel Safety addresses the role of the U.S. Coast Guard and the fishing industry and evaluates such safety measures as vessel inspection and registration, and the training and licensing of fishermen. It explores vessel condition, the role of human behavior, the problem of weather prediction, the high cost of insurance, and more.

Limitation of Liability for Maritime Claims
Limitation of Liability for Maritime Claims

Author: Xia Chen

Publisher: BRILL

Published: 2021-11-29

Total Pages: 186

ISBN-13: 900448194X

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Limitation of liability for maritime claims is an important system for the shipping industry. The original rationale for such a system was to encourage the shipping enterprise. However, in our today's much changed world, the system has been under severe attack and has been described as `hopelessly anachronistic'. Yet, the debate over repeal or retention of the system is far from settled. This book traces the history and development of limitation law around the world. It compares various limitation laws in operation under different legal regimes. In particular, it analytically scrutinizes the limitation systems under U.S. law, Chinese law and international conventions. It explores the possibility of international uniformity of maritime limitation law and points out that complete uniformity will not be achieved unless the United States joins the international community. It concludes that although there is a need for reform of the system, limitation of liability for maritime claims is here to stay. This book also thoroughly examines the limitation system under the Chinese legal regime through comparison with U.S. law and in the context of international conventions. Both practitioners and academic scholars will find this book helpful in understanding Chinese law in general and Chinese maritime limitation of liability in particular.