Denying cover as a marine insurer: plain sailing or dead in the water?
Traditionally, marine insurance may cover a broad range of perils, damage and losses related to ships and watercraft sailing on the high seas or inland waterways, and the cargoes they carry. For vessel owners and charterers, marine insurance covers risks, which allows them to avoid losses and run their business with the certainty that their exposure to the risks insured is covered. However, marine insurance is not meant to cover all risks, and there are obligations the insured party must fulfil to be able to make a claim. Accordingly, express or implied warranties or other terms limit the scope of exposure for marine insurers, and a breach of these may allow the insurers to escape liability. The workshop will focus on H&M and P&I insurers’ grounds for denying coverage in the event of a breach of an express or implied warranty in the policy or other objectionable conduct by the insured party.
14.30 – 16.00 on Wednesday 2 September
Robert Hoepel, AKD, The Netherlands
Tom Turner, Hill Dickinson, UK
Diego de San Simón, San Simón & Duch, Spain
Turo Sumu, Borenius, Finland
Dmitry Zagorodnyuk, InterLegal, Ukraine
COMMISSION: Transport Law