Practice Areas
Marine Insurance
Marine insurance policies cover the transportation of goods on the ocean and/or by land or air, including liability to impacted third parties. There are two types of products: ocean marine policies, covering primarily water-based exposures; and inland marine, covering primarily land- and air-based exposures to liability.
Contracts of marine insurance are subject to laws of admiralty and are governed by federal law, which refers to the law of England. Under a marine insurance policy, all losses or risks may be insured against, except such as are repugnant to public policy or positively prohibited. However, to sustain a recovery on a marine policy, the loss must have been occasioned by a risk insured against. Once the insured establishes the existence of a loss apparently within the terms of a marine policy, the burden of proof is on the insurer to prove that coverage is excluded.
A held-covered clause in a marine policy is intended to protect the insured where, despite his or her best efforts to the contrary, the insured or the insured's crew failed to comply with the terms of a warranty; the effect of a held-covered clause is that the vessel remains covered if it breaches one of the warranties specified in the clause, even if the insured does not notify the insurer until after the loss, provided the insured did not know of the breach before that time.
Protection and indemnity marine insurance is designed to insure owners against risks outside the scope of coverage under standard hull policies.
