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Remote option is available. In-Class attendance is limited to 22.
This session will cover how arbitration and mediation can help avoid the high cost and unpredictable outcome in settling marine claims. It will explain the role of the Society of Maritime Arbitrators and why the SMA is different from other like-organizations. Guest speakers will cover the following details:
- Introduction to Alternative Dispute Resolution (“ADR”), specifically: Arbitration & Mediation.
- Where is Arbitration currently used?
1. Charter Parties, P&I Club Mutuals, Reinsurance
2. Increasingly in Recreational Vessels insurance and Salvage Contracts (MARSALV)
3. Non-Marine employment contracts, some towage contracts, sales contracts (e.g. cruise lines & customers)
- Initiating Arbitration or Mediation. The process in brief.
- Commercial insurance market disputes better resolved through Arbitration/Mediation?
1. Insurer vs. Insured (frequently physical damage, e.g. Hull, Cargo, Well Control, warranty breach, unseaworthiness, non-disclosure, salvage, sue & labor, etc.),
2. Insured vs. Third Party (e.g. P&I - bodily/crew injury, collision/allision, pollution, RoW, Cargo liability, etc.)
- How might Arbitration/Mediation provisions in contracts with Third Parties (e.g. towage, berthing/marina, crew injury, charter parties, subrogation waivers, etc.) benefit Insurers
- Benefits of Arbitration & Mediation vs. Litigation?
1. Speed & flexibility. Big savings in Time and Money.
2. Reducing friction and preserving relations between Insurers, Insureds, and Brokers in an era of constant staff cuts/drive to reduce expenses. Some suggestions?
3. Finality vs. Appeals?
4. Cost-free “Loss Prevention”?
5. Pre-Award Security?
6. When Litigation might be more appropriate? Fraud, big “Bet-the-Farm” scenarios, important Legal precedents?
7. Salvage, Subrogation.
8. Taming Jones Act crew injury disputes.
9. Decided by experienced professionals drawn from Maritime industry. Confidentiality and Consolidation in appropriate cases.
10. Prevailing party is entitled to recover attorney’s fees & costs, unlike “American Rule” in litigation where each party must bear its own fees & costs.
- Mediation – Some Do’s & Don’ts.
Summing it up:
Why use the SMA? If you or your Assureds choose to use the SMA, this is not it works.
A Commercial insurance market ADR proposal. Taylor-made Arbitration & Mediation for Insurers, Indureds, and Broker
Richard J. Decker
Past President of AIG Global Marine and Past Chair of AIMU
Robert A. Milana, Esq.
Major Case Specialist at Travelers Ins. Co.
David W. Martowski, Esq.
Past President of SMA and partner, Thomas Miller
Michael J. Northmore
Chair, SMA Insurance Committee
Who Should Attend:
Underwriters, Underwriting Managers, Claims Adjusters and Managers, and all insurance professionals
In Compliance with the American's with Disabilities Act, AIMU will make all reasonable efforts to accommodate persons with disabilities at its meetings. Please call John Miklus at (212) 233-0550
Refunds/Cancellations/Substitutions: Refund requests will be honored if received at least 48 hours prior to the scheduled start date. All refunds will be subject to a processing fee of 4%. Cancellations received after the refund deadline and "no shows" are subject to the full registration fees. Substitutions may be made by notifying AIMU via email or in person on the day of the event.
Location 14 Wall Street, 8th Floor, New York, NY 10005