Anthony J. Pruzinsky Hill Rivkins LLP New York, New York Charterers’ P&I Insurance: The Risks, the Exposures and the Products Available.

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Presentation transcript:

Anthony J. Pruzinsky Hill Rivkins LLP New York, New York Charterers’ P&I Insurance: The Risks, the Exposures and the Products Available

Hull Damage  Safe Port Warranty Breach  Wreck Removal Pollution Personal Injury Cargo Loss/Damage Other Vessel Damage During Cargo Handling Salvage and General Average Liability Bunker Claims Charter Party Claims Fines Charterers’ Risks

Cibro Savannah  Strict Liability for Oil Spill Barge ING 4727  Failure to provide for P&I Cover in a hybrid use of a barge Ocean Victory  Series of indemnities for a serial breach of safe port warranty Cargo Degradation  Failure to inhibit or treat cargo to withstand voyage Loukas I  Demurrage and Detention Continental Grain  Claim for Legal Defense Expenses Charterers’ Exposure At Law

Fixed Premium Commercial Insurance Market Group P&I Clubs via Pool or Special Facilities Specialized Markets  Dedicated Charterers’ P&I Insurers Insurance Available