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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

Richard Cornah
Chairman

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

Andrew Slade
Director – Head of Marine Hull, London

Tel +44 20 7398 5354
Mobile +44 7585 888 454
Email andrew.slade@ctplc.com

Amy O'Neill
Managing Director, Liverpool

Tel +44 151 235 5557
Mobile +44 7884 114 178
Email amy.o'neill@rhl-ct.com

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RHL News and Latest Publications

Introduction to Hull Claims

The nature of ships and the trades they ply gives rise to a wide variety of risks and exposes both the ship itself and those that run them to a multitude of different types of losses. Marine hull insurance, possibly the oldest type of insurance, steps in to combat the effect of these losses, and is a means by which shipowners can manage their risk. This publication gives an initial introduction to marine hull claims, and the role that average adjusters play.

An adjusters’ note on the supreme court decision in “The Longchamp” 

This case involved a chemical tanker that was seized on 29 January 2009 by Somali pirates. A ransom demand of US$6 million was made by the pirates. After negotiation, a final ransom of US$1.85 million was agreed on 22 March 2009 and the vessel was released.

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.

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