Friday, April 09, 2010

Is that a Convention Limit of Liability?

The London Steam-Ship Owners' Mutual Insurance Assn. Ltd. covers the Shen Neng 1 for liabilities up to 20 million Australian dollars ($18.4 million) arising from the spill, said Ian Barr, claims director at London-based A. Bilbrough & Co. Ltd., which manages the P&I club.

That doesn't seem like much cover, unless Barr is being cute about the limitation fund.

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