Admiralty Law Firm’s Insurance Rescinded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In an unpublished decision, the U.S. Court of Appeals for the Sixth Circuit ruled that an insurance company could rescind the professional liability insurance of an admiralty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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

China, Russia Navies to hold S. China Sea Drills

China and Russia will hold "routine" naval drills in the South China Sea in September, China's defence ministry spokesman Yang Yujun told a news conference on Thursday.

Damen Presents Decommissioning Vessels Concept

Damen Shipyards Group has announced its latest concept design: the Damen Decommissioning Series. The vessel will specialize in three core areas of the oil and gas

Guzmán Re-elected Harbor Commission President, Long Beach Port

Harbor Commission President Lori Ann Guzmán was re-elected Monday evening to serve a second one-year term leading the board that oversees the Port of Long Beach, the nation’s second-busiest seaport.

Navy

This Day In Naval History: July 28

1861 - During the Civil War, the frigate, USS St. Lawrence, spots a schooner flying English colors and gave chase. Some four hours later, as she is overhauling the schooner,

SNMCMG2 Completes Third Black Sea Deployment

Standing NATO Mine Countermeasures Group 2 (SNMCMG2) has completed its third deployment into the Black Sea under the command of Captain Ramazan Kesgin, Turkish Navy.

China, Russia Navies to hold S. China Sea Drills

China and Russia will hold "routine" naval drills in the South China Sea in September, China's defence ministry spokesman Yang Yujun told a news conference on Thursday.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Sonar
rss | archive | history | articles | privacy | 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: 0.0562 sec (18 req/sec)