Admiralty Law Firm’s Insurance Rescinded

Friday, January 14, 2005
In an unpublished decision, the U.S. Court of Appeals for the Sixth Circuit ruled that an insurance company could rescind the professional liability insurance of an admiralty law firm for material misrepresentation in the application. The law firm (noted for filing asbestos claims against ship owners, among other things) indicated in its application that none of its lawyers knew of any circumstances that could result in a professional liability claim. Following the death of the senior partner, it was found that he had misappropriated more than $15 million of settlement funds owed to clients. The insurance company filed suit to rescind the policy. The law firm contended that the partner who signed the application was unaware of the misappropriation. The court held that, in the absence of a severability clause, all the partners are bound by the misrepresentation of the misappropriating partner. American Guarantee & Liability Insurance Company v. The Jaques Admiralty Law Firm, PC, No. 03-2170 (6th Cir.) (HK Law)
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Thai Resort Owners Sue State Owned Company for Oil Spill

Business owners on Koh Samet island are suing a state-owned petroleum enterprise for the oil spill that polluted the resort island's beaches last year. More than 50,

Nigerian Piracy Threatens UK Interests: New Report

The UK economy is heavily exposed to lawlessness off the coast of Nigeria, a new report published today by the UK Chamber of Shipping says. The report found that almost all of the UK’s annual £6.

Maine Port City Bans Oil Loading

City councilors in South Portland, Maine, voted late Monday night to ban the loading of crude oil onto tankers along its waterfront, throwing up yet another roadblock

Navy

Today in U.S. Naval History: July 23

Today in U.S. Naval History - July 23 1947 - First Navy all jet squadron (VF-17A) receives its first aircraft (FH). 1948 - USS Putnum (DD-757) evacuates U.

VIDEO: HMS Queen Elizabeth Floats Out

A timelapse video of HMS Queen Elizabeth floating out of her dock for the first time is now available at http://www.youtube.com/watch?v=P0ZjQz9vEKw. The float out of the 65,

Sunken WW II Ship Oil Leak Plugged

Atlantic Coast Marine Group, Inc. successfully responds to World War II era motor tanker leaking massive cargo of oil into the Atlantic Ocean's waters. Beaufort,

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0760 sec (13 req/sec)