Liner Negligence Clause
Summary of Liner Negligence Clause
A provision commonly incorporated into marine hull insurance policies that states that the insurer will pay for damage to the vessel when an accident has occurred without the necessity of identifying a specific peril, less “the cost of repairing, replacing, or renewing any port condemned solely as a result of a latent defect, wear and tear, gradual deterioration or fault or error in design or construction.”The clause was first offered by the American Hull Insurance Syndicate in 1964.
(Main Author: William J. Miller)
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