Insurance Policy Interpretation In Tanker Accidents: Guidance From Attorneys

 Insurance Policy Interpretation In Tanker Accidents: Guidance From Attorneys - The no-fault collision clause is part of the marine insurance policy which states that if a vessel (vessel) collides with another vessel due to the negligence of either party, the owner and operator of the vessel must share the loss in proportion to the monetary value of the cargo before the collision. The owner of the cargo and the company responsible for the shipment must pay for the damage

As globalization grows, so does the transportation industry. Company's liability in case of collision, and risk is limited to marine insurance.

Insurance Policy Interpretation In Tanker Accidents: Guidance From Attorneys

The Hague-Visby Regulations provide that, if the operator takes sufficient care to provide a seaworthy vessel, they are not liable for partial collision due to negligent navigation (Part IV Regulation 2(a)). Generally, both vessels are partially responsible for the collision and cargo interests can assert a claim in tort against the non-carrying vessel.

Comparing A Claims Made Vs. Occurrence Policy

Under US law, claimants can recover their claim in full from the other shipowner, who can then recover half from the carrier. This rule covers the prevention of navigational errors. It also creates a situation where the interests of the cargo cannot be salvaged if the operator is liable. The fault-at-fault clause is designed to preserve the carrier's protection under the Hague-Visby rules by providing a contractual remedy on behalf of the cargo.

If Ship B collides with Ship B due to Ship B's fault, the owner of Ship B's property, which is damaged or lost due to Ship B's fault, can claim 100% compensation from Ship B's owner.

However, both because of the no-fault collision clause and in a situation where fault distribution is considered 50/50, ship B is entitled to claim 50% of its liability from the owner.

This leaves ship A with half the bill of lading value, so that ship A returns to the owner of the goods, through the two-to-fault collision clause of the bill of lading.

Types Of Commercial Vessel Incidents

Authors must use primary sources to support their work, including white papers, government data, original reports, and interviews with industry experts.Where appropriate, we also cite original research from other reputable publishers. You can learn more about the standards we follow to produce accurate and unbiased content in our editorial policy.

The offers shown in this table are from paid partnerships

By clicking "Accept all cookies", you agree to store cookies on your device to improve site navigation, analyze site usage and assist with marketing efforts. A qualitative and quantitative occupational exposure risk assessment during powder-bed fusion processes in metal additive manufacturing.

Open Access Policy Institutional Open Access Program Guidelines Special Edition Research Editorial Process and Publication Ethics Article Processing Fee Testimony Award.

Understanding The Importance Of The Carriage Of Goods By Sea Act

All published articles are immediately available worldwide under an open access license No special permission is required to reuse all or part of the published article, including images and tables For articles published under the Open Creative Commons CC BY license, any part of the article may be reused without permission if the original article is clearly cited. For more information, see https:///openaccess

Feature papers are state-of-the-art research with significant potential in the field Feature papers should be original articles that cover different techniques or approaches, provide perspectives for future research directions, and describe potential research applications.

Feature papers are submitted by invitation or individual recommendation by Scientific Editors and must receive positive feedback from reviewers.

Editors' Choice articles are based on the recommendations of scientific editors from journals around the world. The editors select a number of recently published articles in the journal that they believe will be of interest to readers or important in relevant research areas. It aims to provide a snapshot of the most exciting work published in the journal's various research areas

What Is Insurance Underwriting?

Panagiotis K.

Received: 18 August 2021 / Revised: 15 October 2021 / Accepted: 20 October 2021 / Published: 3 November 2021

Using Risk Acceptance Criteria (RAC) can help businesses judge whether the level of risk associated with a process is acceptable in the work environment, especially if the risk has social implications. Therefore, the main objective of this study is to report the current status of RAC and propose new interpretations by reviewing the scientific literature on health and safety (OHS) risk assessment (RAA) methods of RAC. The second objective of this work is to obtain predictions for the evolution of the volume of OHS-RAC-related publications to illustrate the new OHS-RAC formation process, and the third is the generation of algorithms (via flow-charts). The work consists of two parts, (a) exploring and presenting the methodology for developing RAC in OHS; ) review identified a large number of RAC-papers with OHS references, a significant percentage compared to other fields, and this result demonstrates that the issue of RAC use is fundamental to the OHS field. Additionally, it has been determined that there is a growing trend in the scientific community regarding the development and use of RAC in occupational safety, as often referred to in the Risk Analysis and Assessment (RAA) process. Our specific research methodology is consistent with the PRISMA protocol and forecasts for the evolution of OHS-RAC release volumes are also confirmed using the Poisson stochastic process. Finally, we propose a framework of general guidelines that can support state-originated OHS-RACs

OHS, according to the scientific literature, is an important issue for organizations and decision-makers on behalf of society (for example, authorities responsible for managing public infrastructure) because it ensures stable conditions with work, efficiency and productivity [1, 2, 3, 4, 5]. On the other hand, accidents at work have a significant impact on the integrity of workers, thereby increasing costs to the national insurance system and reducing the sustainability of society. In addition, occupational accidents and/or illnesses may affect the work and overall sustainable performance of the company, employees (including their families) and/or colleagues. Therefore, this modulation situation, especially due to production delays and loss of work time, can affect the quality, productivity and reputation of the company.

Commonwealth Fund 2023 Scorecard State Health System Performance

Consequently, every company must manage and mitigate risks to provide a suitable and adequate work environment for every employee. However, OHS has a cost and it is impossible for businesses to spend unlimited budgets to reduce or, if possible, eliminate risk. Therefore, the level of residual risk will always exist and must be removed In this context, the business must address the specific question "What is the lowest level of risk that can be tolerated" (or allowed)? (IE, what is the residual risk) or restate the well-known question of Fischhoff et al. [2], "How much?" [6, 7, 8]

Having regard to the meaning of the latter term (i) "danger" is a feature of the process that may cause loss or damage [3]; (ii) "incident" (or "accident") is an unintended event that causes (or may cause) a harmful effect [4, 5]; (iii) "risk" or the likelihood that something (or someone) will be adversely affected by the risk (or risks) as an effect of uncertainty of fairness. We can consider the word "hazard" as a specific source that has the ability to cause harm [4] or a weak (dangerous) and vulnerable state (potential source of unwanted events) that causes harm with high damage (5, 10, 11).

Risk is usually expressed as the combination of the consequences of an event (or events) and the probability (chance) associated with that event. There is no doubt that absolute safety does not exist, because there is always a "quantity" of risk, i.e. "residual risk", in a process that may be quite safe and, as a result, relative safety is achieved by reducing the risk to a tolerable level, called "tolerable risk". Therefore, is determined by the tolerable risk

Interpretation policy, tanker truck accidents, truck accidents attorneys, oil tanker accidents, accidents attorneys, automobile accidents attorneys, guidance policy, good attorneys for car accidents, tanker accidents, attorneys car accidents, attorneys for car accidents, insurance policy interpretation