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Ocean Marine Cargo Insurance: United States Law & Practice
[Part III in a series of III]

  • Presented: Dec. 9, 2014
  • Duration: (61 minutes)

DETAILS

Details of material covered: This webinar is based off information contained in the book International Cargo Insurance (Series: Lloyd’s Shipping Law Library; Published by Informa Law from Routledge (August 28, 2009) contributed to by Stephen V. Rible. This is the final in a series of three webinars presented by Mr. Rible.

CONTENT OUTLINE

CLAIMS AND LOSSES

Claims

  • Notification of loss: limitation of action
  • Interest and costs
  • Interest Rate on Prejudgment Interest
  • Award of Attorneys Fees
  • Award of Consequential and Punitive Damages –
    • for Wrongful Delay or Refusal to Pay
  • Good faith and fraudulent claims

Total loss of cargo: actual and constructive

  • The Categorisation of losses
  • Loss of possession of the cargo: actual total loss
  • Loss of possession: constructive total loss
  • Damage to the cargo: actual total loss
  • Damage to the cargo: constructive total loss
  • What constitutes “damage” to cargo?
  • Physical Loss or Damage
  • Loss of the adventure
  • The general principle
  • The Forwarding Charges Clause

Partial loss: measure of indemnity

  • Valued and unvalued policies
  • Cargo delivered damaged at destination: salvage losses
  • Underinsurance

Recoverable expenses

  • Sue and labour
  • Salvage
  • General average

Presenter: Stephen V. Rible
Partner, Mendes & Mount LLP, New York, New York; Instructor, American Institute of Marine Insurance and St. John’s University, School of Risk Management, Insurance and Actuarial Science.

Intended For: Underwriters, agents, brokers, and other insurance professionals with an interest in better understanding the described contract details should attend this webinar.

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