War Risks

Monday, October 08, 2001
Shipowners, charterers, traders, energy companies and insurers will be among those interested to learn the impact of recent events on the war and force major exceptions in their contracts and to identify relevant insurance policies. There are currently many numbers of spats going on between shipping interests and their insurers over the need to increase war rates to destinations - and there are a lot of them - which underwriters might consider to be vulnerable. And the European Shippers Council has asked the EC to investigate war risk premiums levied by marine underwriters. Watson Farley & Williams is reportedly holding a seminar in London October 9 to discuss these issues. In the meantime, a good place to start is the Holman Fenwick & Willan website, which provides a succinct outline of the legal considerations of war and terrorism. Commercial interests may be relieved to know that the courts in the UK have traditionally taken a non-technical view of what constitutes a war. The Court of Appeal, for example, was unable in 1939 to accept that "there is any technical meaning of the word 'war'". And, ten years later, the House of Lords could "see no good reason for giving to the word 'war' a meaning which excludes one type of war". Source: Maritime Advocate Online
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Company Fined for Oil Spill Near Anacortes

Ecology issues $112,500 penalty for sunken vessel.   American Gold Seafoods faces a $112,500 penalty for an oil spill caused by the accidental sinking of its vessel,

London Shipping Professionals Weigh in for SPNL Report

The Shipping Professional Network London (SPNL) has  released their full Future London report, an initiative that gathered the views and opinions of London’s young

Update: U.S. to Seize Kurdish Oil from Tanker off Texas

U.S. authorities are set to seize a cargo of oil from Iraqi Kurdistan anchored off the Texas coast after a judge approved a request from Baghdad, raising the stakes

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Ship Electronics 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: 0.1229 sec (8 req/sec)