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INTERNATIONAL MARINE CLAIMS CONFERENCE LEADER ’S RIGHTS, ROLES & RESPONSABILITIES PANEL DISCUSSION

INTERNATIONAL MARINE CLAIMS CONFERENCE LEADER ’S RIGHTS, ROLES & RESPONSABILITIES PANEL DISCUSSION FRENCH MARKET PRACTICE. LEADER’S RIGHTS IN HANDLING THE CLAIM.

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INTERNATIONAL MARINE CLAIMS CONFERENCE LEADER ’S RIGHTS, ROLES & RESPONSABILITIES PANEL DISCUSSION

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  1. INTERNATIONAL MARINE CLAIMS CONFERENCE LEADER ’S RIGHTS, ROLES & RESPONSABILITIES PANEL DISCUSSION FRENCH MARKET PRACTICE

  2. LEADER’S RIGHTS IN HANDLING THE CLAIM qTo decide any matter relating to any claim made under the policy (payments, settlements, claims, surveys, guarantees, towage, salvage, payments on account, claim settlements …) q To appoint and employ any expert of his choice (surveyors, lawyers …) to deal with any matter which gives or may give rise to a claim. q To request counter guarantees from co-insurers where L.O.U. has been issued on behalf of co-insurers q To collect handling fees as per recommended Market Claims Handling Scheme q To settle its own share without having to compensate neither co-insurers refusal to settle their share nor their bankruptcy

  3. LEADER’S DUTIES & OBLIGATIONS TOWARDS CO-INSURERS q To notify claim with initial reserve qTo notify settlements and closures q To inform each co-insurer of any legal action q To obtain prior approval of co–insurers for “ ex gratia ” payments, as such payments are not binding on any co-insurer

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