Underwriting Workboats
Moving 30 barges at once takes the sure hand of a tugboat pilot who knows how to maneuver a flotilla through the twists and turns of the Mississippi River. Lashed together, three across and 10 long, the barges cover more than twice the surface area of a modern aircraft carrier. Most would agree that the best river pilots are artisans, deeply skilled in methods to meet the challenges of that particular job. Equally skilled, however, are the tugboat captains in a crowded ocean harbor…
Marine Insurance: Spring Cleaning Should Include Evaluating Insurance Strategy
An essential part of spring cleaning is sorting through what you have, deciding what needs to be kept, and throwing out what can safely be eliminated. The tidy end result lets you move forward in the best shape possible. An annual “spring cleaning” of insurance coverage is equally valuable for a business operation. Whether the economy is booming and cash flow is substantial, or times are tight and shaving costs is essential, a business should step back at least once a year, take a look at its assets, and evaluate its current risk management strategy. The goal is to make sure the company is maximizing its benefit from premium dollars.
The Bisso Doctrine
The Bisso Doctrine takes its name from the 1955 U.S. Supreme Court case, Bisso v. Inland Waterways Corp., in which it was established in a majority opinion of the Court that exculpatory clauses in towing contracts are invalid as a matter of public policy. That decision has had serious impact on the United States towing industry, and has affected decisions on whether to make U.S. choice of law and forum applicable to towing contracts where there were other options. It nonetheless remains the law of the land.
