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Supreme Court rules that law of the sea extends to all stages of a journey, even on land: "mixed contract" doctrine overturned. Experts see rough seas ahead for insurance carriers seeking recoveries from stevedores, railroads, truckers and terminal operators.(Up Front: New, Updates and Other Emerging Strategies from Around the World)
From:
Risk & Insurance
| Date:
April 1, 2005| Author:
Toran, Mindy W.
| COPYRIGHT 2005 Axon Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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General maritime law can prevail at all stages of a journey, on land as well as at sea, the Supreme Court has ruled. That means domestic insurers may be limited in what they can recover for goods lost or damaged in transit.
Vincent DeOrchis, a New York-based admiralty law attorney, said there was "some concern" that the decision might mean higher premiums for cargo insurance because of the inability of insurance companies to recover losses when they sue a subcontractor. ...