CLAIMS AND LOSSES

Claims

• Notification of loss: limitation of action
• Interest and costs
• Interest Rate on Prejudgment Interest
• Award of Attorneys Fees
• Award of Consequential and Punitive Damages –
  • for Wrongful Delay or Refusal to Pay
• Good faith and fraudulent claims

Total loss of cargo: actual and constructive

• The Categorisation of losses
• Loss of possession of the cargo: actual total loss
• Loss of possession: constructive total loss
• Damage to the cargo: actual total loss
• Damage to the cargo: constructive total loss
• What constitutes “damage” to cargo?
• Physical Loss or Damage
• Loss of the adventure
• The general principle
• The Forwarding Charges Clause

Partial loss: measure of indemnity

• Valued and unvalued policies
• Cargo delivered damaged at destination: salvage losses
• Underinsurance

Recoverable expenses

• Sue and labour
• Salvage
• General average