International Marine Insurance Conference - The Challenges Presented by a Major Marine Disaster

Transcription

1 International Marine Insurance Conference - The Challenges Presented by a Major Marine Disaster Clothworkers' Hall, EC3, Tuesday 12 April 2011

2 Clyde & Co s true focus continues to be Marine Insurance, where it is regarded as a market leader. Clients praise its in-depth knowledge of the industry. With offices across key international jurisdictions, Clyde & Co has an established reputation as one of the leading international shipping practices Chambers One of the strongest shipping practices in the world. The leading light in cargo, insurance and related casualty matters Chambers

3 Marine Insurance Capability Insurance and reinsurance is our core speciality - uniquely distinguished by our worldwide network of offices, the excellence of our team and the excellence of the individuals within it. A genuine multi-jurisdictional capability sets us apart from other insurance law firms. Our international network of offices across the Middle East, Asia, CIS, North America, Latin America and Central Europe means that we can give clients the benefit of our expertise worldwide. We also have long-established relationships with correspondent law firms in over 120 countries across the globe and a significant part of our practice involves international risks and the conduct of litigation in jurisdictions outside the UK.

4 Marine Insurance Marine insurance is the foundation on which Clyde & Co was established and remains an important part of our business today. The practice is run from our UK, European, Asian and American offices, ensuring that we always have our own people available in relevant time zones. Most of the major headline cases in marine insurance in the last decade have involved lawyers from one or other of our offices. Our specialists handle all types of claim for a mainly insurer client base. This includes the vast majority of Lloyd s syndicates, London and international marine insurers including hull and cargo insurers, P&I clubs and fixed premium insurers on a wide variety of claims covering:. cargo hull and machinery scuttling, fraud and piracy liability, particularly charterers' and ship repairers' pollution war and terrorism builders' risks mortgagees interest yachts loss of hire We act in disputes under marine policies covering all types of vessel from luxury sailing yachts to drill ships. Our approach to any contentious issue will take into account all possible approaches to the case including litigation, arbitration, mediation and other alternative dispute resolution processes and is informed by an in-depth knowledge of the industry. We have experience of cases right across the spectrum, from small bumps and scrapes to major marine casualties involving partial or total loss. We also draft policy wordings and advise on new insurance products on a frequent basis. Whilst we are pre-eminent in the litigation and arbitration field, we also have specialist partners with expertise in all areas relevant to the marine and energy insurance sector, including regulatory, insolvency and restructuring matters and general commercial work for the industry. We have the resources and in depth experience to help you succeed in the legal issues that you face both now and in the future. Clyde & Co is pre-eminent in marine insurance. We have the resources and experience to deal with multiple insurance interests, aggressive media and government intervention.

5 Marine casualty It is important in casualty emergencies to have expert advice on which you can call. Timing is critical, in particular when choosing jurisdiction or securing evidence. Our dedicated marine casualty department (which includes a knowledgeable team of Master Mariners, placed in strategic offices around the world, has an emergency response and telephone help-line in operation 24 hours a day. This team will start detailed technical investigations without delay in global liaison with local lawyers, engineering and fire experts. Our extensive experience in responding to marine casualties enables us to assist clients in producing their own contingency plans and emergency response strategies. We handle: Collision, salvage and general average cases Pollution liabilities Transhipment Pilotage Wreck removal, deep sea recovery Insurance issues and criminal prosecutions We are the leading firm involved in Lloyd s Open Form Salvage Arbitrations dealt with in London each year. Emergency response capability A number of highly experienced master mariners augment our experience of casualty, emergency and crisis management. From South America through Europe and the Middle East to Asia, they are on call day and night to investigate any marine casualty. We have the capacity and resources to adjust our response depending on the requirements of our clients or the type or size of casualty. This may be a: Minor or major grounding Collision Fire Total loss Pollution incident Engine breakdown We have a 24/7 contactable emergency response hotline and experienced lawyers at all levels of seniority with multi-jurisdictional shipping and crisis management experience. Master mariners/marine investigators can immediately be dispatched to the casualty site to collate/preserve evidence and to enable an early assessment of legal responsibilities and the necessary steps to be taken.

6 Shipbuilding and repair We advise insurers and their assureds on shipbuilding policies and subcontractors liabilities. Having acted in some of the biggest shipbuilding disputes in the past 20 years, we know the potential problems and we can achieve the best commercial settlement. Operations We have specific experience of tax, regulatory, insurance and liability issues, during construction and in operation, as well as Floating Production, Storage and Offloading vessels (FPSOs), personal injury and consumer claims associated with ferries and cruise ships. We can advise on these issues from our own resources by reference to nearly every developed jurisdiction around the world. Ports and terminals We have acted for many Port Authorities and their insurers over the years both in the UK and abroad. We have considerable experience regarding the full range of port-related issues including property and cargo damage, contractual conditions, personal injury/fatalities, ship repair/ship building, environmental, major shipping casualties, local regulation and statutory duty - not mentioning all the issues and disputes that arise out of building the port in the first place. Marine Recoveries Last but not least, we have always been marine recovery specialists from the time the firm was formed, and we offer not just expertise but tailored price terms including (where appropriate and possible) no win: no fee. We offer a full service for all types of marine recoveries, hull, cargo and energy. Our knowledge of the underlying industry itself and of the jurisdiction aspects involved enables us to provide clients with an insight to the prospects of recovery, be it hull, cargo or energy that is involved. Cargo claims in particular cover the whole logistics chain for the carriage of goods by sea, road, rail and air and warehousing, from start to finish. We have the experience to deal with and solve problems at whatever stage they occur in the transport process. Without our advice, potential recoveries must be left unexploited. From first notification of a claim, we work closely with our clients to collect evidence, obtain security and consider jurisdictional and contractual options to maximise recovery prospects and the recoverable amount. Our service to insurers usually starts before subrogation. Establishing an early understanding of the merits and issues assists in gaining the initiative and sets the foundation for a successful recovery. The collection of evidence at the outset is a key element in the claims process. We can advise on what evidence is required from the assured at an early stage. The use of our global network of offices, in-house Master Mariner expertise and experience of working with surveyors and other experts, ensures effective collection of evidence before opportunities are lost. We work with clients in a variety of ways to manage claims and adopt a flexible approach.

7 UK Contacts Hull & Cargo Coverage Recoveries Graeme Baird Tel: +44 (0) Andrew Bicknell Tel: +44 (0) Nigel Chapman Tel: +44 (0) Simon Culhane Tel: +44 (0) Mike Roderick Tel: +44 (0) Andrew Nicholas Tel: +44 (0) Casualty Martin Hall Tel: (301) P & I Philip Roose Tel: +44 (0) [email protected] Stephen Pink Tel: +44 (0) [email protected] Nick Austin Tel: +44 (0) [email protected] Andrew Preston Tel: +44 (0) [email protected]

8 Clyde & Co LLP offices and associated* offices: Abu Dhabi Bangalore* Belgrade* Caracas Dar es Salaam* Doha Dubai Guildford Hong Kong London Moscow Mumbai* Nantes New Delhi* New Jersey New York Paris Piraeus Rio de Janeiro Riyadh* San Francisco Shanghai Singapore St Petersburg*