Ocean Marine Cargo Insurance: All Risks, War, Strikes & Terrorism, Duration of the Insurance
[Part II in a series of III]
- Presented: Sept 15, 2014
- Duration: (60-minutes)
DETAILS
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. The presentation will cover the following material:
ALL RISKS
- ALL RISKS: All risks defined; Fortuity; Burden of proof
- LIMITATIONS AND EXCLUSIONS ON ALL RISKS: Wilful misconduct; Ordinary wear and tear; Inherent vice; Insufficiency of packing; Delay; Loss of Market; Insolvency
WAR, STRIKES AND TERRORISM
- The limitations on cover for war risks
- War risks: War, warlike operations, military or usurped power, civil war, revolution, rebellion and insurrection; Capture, seizure, arrest, restraint and detainment; Strikes, riots and civil commotions; Strikes and strikers; Riots and civil commotions; Terrorism; The cover for terrorism; Weapons of mass destruction
DURATION OF THE INSURANCE
- How the duration of the insurance is regulated
- The Transit Clause: Attachment of risk: "Ordinary course of transit"; Termination of risk; Forwarding to another destination; Delay, deviation and variations of the adventure;
- Termination of carriage and change of voyage: Held covered and analogous provisions; Termination of Transit Held Covered Provision; Change of Voyage Clause; Consolidation/Deconsolidation
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.