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Navigating Marine Insurance: Measures to Avert or Minimize Loss

This comprehensive overview addresses critical measures within marine insurance aimed at averting or minimizing loss. It discusses topics such as insurance coverage of general average and particular average/salvage charges, emphasizing the legal obligations to notify and act in a loss scenario. Key regulations, including NMIP and CICG stipulations, shed light on the principles of fairness, motivation to salvage, and economic efficiency. The discussion extends to the York Antwerp Rules (YAR), highlighting the importance of common safety and benefit within marine insurance frameworks.

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Navigating Marine Insurance: Measures to Avert or Minimize Loss

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  1. 7. Measures to avert or minimize loss • Overview • Insurance coverage of general average • Particular average/salvage charges Marine insurance

  2. 7.1. Overview • Duty to notify/avert or minimize loss cf. • NMIP § 3-31/CICG § 25.1 • Gard rule 82.1 (b) • and 6.7 above. • = connected to right to be reimbursed • NMIP § 4-7 ff./CICG § 39-§ 40 • Gard rule 46 Marine insurance

  3. 7.1. Overview • Rests on fundamental insurance principles: • Fairness • Motivation to salvage • Economic effeciency • The rules more complicated in NMIP/CICG • Here: Only NMIP and CICG Marine insurance

  4. 7.2 Insurance coverage of general average • The YAR and the insurance • Some common rules • Special rules in NMIP Marine insurance

  5. 7.2.1 The YAR and the insurance • The main principles of the York Antwerpen rules: • Common safety • Common benefit • Insurance coverage provided in NMIP § 4-8/CICG § 40 Marine insurance

  6. 7.2.2 Some common rules • Must be a peril insured against • But: Cargo insurance on B and C clauses • Coverage of common benefit expences • The situation where the ship or goods is damaged • NMIP § 4-10 • CICG Commentary 369 Marine insurance

  7. 7.2.3 Special rules in NMIP • NMIP § 4-8 1 i.f: Valuation according to YAR • NMIP § 4-8 3: GA absorption clause • Extension of general average principles • NMIP § 4-9 • NMIP § 4-11 Marine insurance

  8. 7.3. Salvage measures • Introduction • The situation • The measures • Subjective requirements • The settlement Marine insurance

  9. 7.3.1 Introduction • The regulation • NMIP § 4-7 cf. § 4-12. • CICG § 39 and ICA § 6-4. • The main difference: Extent of cover • NMIA § 4-18: separate sum • CICG § 39 cf. ICA § 6-4: unlimited Marine insurance

  10. 7.3.1 Introduction • Limited practical importance in hull insurance: Measures to salvage ships will normally be GA • Conditions for liability concerns • The situation • The measures • Subjective requirement • The settlement: Not insurance but tort Marine insurance

  11. 7.3.2 The situation • A casualty must have occurred or threatened to occur • The problem: ”threatened to occur” • Not purely preventive measures • Imminent and great probability • ND 1946.263 Porsanger – treshold too low? Marine insurance

  12. 7.3.3 The measures taken • Must be of extraordinary character • Not foreseeable losses/expenses • Must be reasonable • But need not succeed • However: limited coverage according to § 4-18 Marine insurance

  13. 7.3.4 Subjective requirements • Any person may take the measures • The purpose must be to avert or minimize loss • No purpose/knowledge required as to incurring expenses. Marine insurance

  14. 7.3.5 Settlement • Any loss may be covered • No exclusions in NMIP or ICA for national cargo transports • But: CICG § 39 2 sentence: No coverage for third party liability in international transits Marine insurance

  15. 7.3.5 Settlement • Amount: • CICG § 39/ICA § 6-4: Unlimited • NMIP § 4-18 • No deductibles • Several interests: • Starting point: Apportionment of costs, NMIP § 4-12, CICG § 44 • Not practiced strictly Marine insurance

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