Common Contracts
1 similar null contracts
RISK SHIFTING AGREEMENTS IN MARITIME CONTRACTSMay 13th, 2013
Maritime contracts often contain clauses that shift the risk of loss from one contracting party to another. These clauses are important to identify because one party to the contract may have agreed that another party cannot be held liable for its own negligence, limit responsibility for damages, provide a waiver of subrogation rights or agree to provide insurance or another form of indemnity. Such clauses can also be advantageous for the insurer when the insured shifts its risk to another party. They can also adversely affect an insurer’s ability to subrogate. Thus, it is important to know how to identify and apply these clauses and understand their enforceability and impact on your coverage.
