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Case Study : Do all policies work in the same way?. КРУТОЙ. БРАВЫЙ. КРУТОЙ. БРАВЫЙ. ?!?!. КРУТОЙ. БРАВЫЙ. ...ть !. КРУТОЙ. БРАВЫЙ. SOS. What does this bring?. Collision Crew claim General average Salvage Particular average Cargo liability Loss of hire. Assumptions.
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КРУТОЙ БРАВЫЙ
КРУТОЙ БРАВЫЙ ?!?!
КРУТОЙ БРАВЫЙ ...ть!
КРУТОЙ БРАВЫЙ SOS
What does this bring? • Collision • Crew claim • General average • Salvage • Particular average • Cargo liability • Loss of hire
Assumptions • “Бравый” sum insured: EUR 1’000’000 • Cargo value: EUR 1’000’000 • Daily T/C hire: EUR 1’500 • Crew claim: US$ 80’000 • Salvage award: 15% of TV • Damage to cargo: EUR 150’000 • Particular average: EUR 750’000 • Off hire period: 90 days
Crew cover limited to US$20,000 under P&I policy Duty to settle under ITF agreement – up to US$ 80,000 Loss of $60,000 Crew Claim Possible Scenario Good Practice • Proper P&I cover - full recovery, including medical care and repatriation
Страховщик не возмещает суммы, превышающие по величине 10% от страховой суммы, затраченныеСтрахователем на спасание застрахованного судна (clause 4.10 of certain rules) No S&P rating – Salvage guarantee not accepted Salvage award 15% Loss of 5%, i.e. EUR 50,000 Salvage Possible Scenario Good Practice • “For purposes of all contributions to General Average and/or Salvage and/or Sue and labor, all vessels deemed to be fully insured for their actual sound market value at all times” (Standard ILU additional wording)
No S&P rating – LOU not accepted, bank guarantee not provided Direct settlement or bank guarantee by shipowner requested. Cargo liability Possible Scenario Good Practice • Proper P&I cover – LOU accepted and claim settled following defence regarding liability
А соответствует ли страховая сумма страховой стоимости? Claim settled with depreciation (0,75) Loss of EUR 187,500 Particular average Possible Scenario Good Practice • Temporary repairs settled with payment on account • Towage arranged to convenient yard • Full recovery
In general Good Practice