The Hanjin Shipping bankruptcy has caused turmoil in global sea freight with uncertainty about the whereabouts and distribution of cargo. In this webinar, Mike Roderick, Partner at Clyde and Co., discussed positions to date, practical issues for insureds, and potential policy coverage.
In the 3rd session about General Average, Ben Browne, a partner at Thomas Cooper LLP, covered the background and context of the YAR 2016; the main areas of change made by the YAR 2016 (such as salvage, contributory values, temporary repairs to the ship, treatment of low value cargo, interest and commission etc.); and the introduction of the YAR Guidelines.
The first session of 3 about General Average Ben Browne (a partner at Thomas Cooper LLP, chairman of the London Admiralty Solicitors Group, IUMI’s representative during the negotiations which led to the YAR 2004 and 2016 and on the Committee monitoring the new YAR Guidelines) introduces the concept of GA and provides an outline of the York-Antwerp Rules 1974, 1994 and 2004.
Steffen Maelicke, Counsel at Dabelstein & Passehl shared his insights into the requirements and implications for the insurance industry due to the amendments to SOLAS regulation V1/2 for the verification of the weight of containers.