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Loss of Hire Claims

A significant casualty will impair the vessel’s ability to trade with the result that its revenue stream will be adversely affected, perhaps seriously so in the event of lengthy repair.

The specialist policies designed to mitigate the effect on cash flow provide that coverage is dependent upon it being demonstrated that an insured peril has operated in terms of the standard wordings of a hull and machinery policy. This, together with the fact that complex issues can arise in quantifying the liability of loss of hire insurers, means that it is often preferable for an adjuster to state the claim in tandem with the hull claim.

We have a wealth of experience in dealing with loss of hire claims and the policy wordings available.

Our services include:

  • Investigation on cause of loss
  • Analysis of the time recoverable under the policy and how the deductible period is to be calculated
  • Recommendations for interim funding by insurers
  • Provision of loss reserves.Clear and concise reporting

We also offer expertise in specialist passage money covers for cruise ship operators.

Key Contacts

Andrew Paton
Director - Marine

Tel +44 151 235 5567
Mobile +44 7798 775 075
Email andrew.paton@rhl-ct.com

Richard Cornah
Chairman

Tel +44 151 235 5554
Mobile +44 7785 948 830
Email richard.cornah@rhl-ct.com

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RHL Latest Publications

An adjusters’ note on substituted expenses and ransom payments – “The Longchamp”

The Court of Appeal has reversed the 2014 High Court judgement that crew wages and fuel consumed during lengthy ransom negotiations with Somali pirates could be allowed as general average under Rule F of the York Antwerp Rules. This article provides insight into both the High Court and Court of Appeal decisions, and clarifies the test for establishing an allowance under Rule F.

"Environmental liabilities in particular average - Part 2"
Situations in which pollution-related costs can be recovered in general average (GA) have been discussed in our previous article, "Environmental liabilities in general average - Part 1". We will now consider when the costs of cleaning up pollution in dry-dock may be  covered by particular average (PA).

"Environmental liabilities in general average - Part 1

The liability aspect of environmental costs falls traditionally within the ambit of P&I cover. However, there can be situations whereby such costs can be recovered as either general average (GA) or particular average (PA) from property insurers. This article will consider the topic from a GA point of view.

 

Click the link below to view further douments and publications from Richards Hogg Lindley.