Published 1989-10-16
Keywords
- Swedish Club,
- P&I Club,
- marine insurance,
- limitation of liability,
- Hull and Machinery policy
- hull insurance,
- fines,
- missing cargo,
- hazardous cargo,
- safety regulations,
- strict liability,
- marine pollution,
- deviation,
- smuggling ...More
Abstract
As part of Business Session 4, this paper covers the topic of fines (also classed as dues, penalties, or charges) to shipowners, which potentially can be covered under a shipowner's P&I insurance policy in some circumstances. The paper narrows in more closely on large economical sanctions imposed on shipowners which may not be fair in all the circumstances, and are used as a means of revenue-raising more than anything else. These fines may be for missing cargo, poor stowage practices, smuggling of people or goods, pollution, deviation, hazardous cargo, or breaches of safety regulations.