South Korea - Time Bars
25/01/2017
Explore the time bars for maritime claims in South Korea
Members are reminded of Circular 6/16: Iran Trading - increased limit of fall-back cover, which informed Members that The International Group had purchased €100 million of "fall-back" cover to respond to any reinsurance recovery shortfalls. The International Group announced last week that the "fall-back" reinsurance programme will not need to be renewed past 20th February 2017. The full text of the notice is below, and is also available on the International Group website here.
Japan - Time Bars
20/01/2017
Understand the time bar system in Japanese maritime law with key concepts and specific time limits for various claims
The lengthy judicial proceedings in the French courts arising out of the sinking and massive oil spill from the tanker ERIKA off the coast of Brittany in December 1999, gave rise to numerous questions regarding the interaction between the international oil pollution liability conventions as incorporated into French law and other French legislation which claimants argued should apply. As a result legislation has been passed by France since the ERIKA judgements in an attempt to codify the Erika jurisprudence.
Germany - Time Bars
19/01/2017
The German Civil Code provides a general 3 years time bar period which applies to contractual as well as to statutory claims. If a damage or a personal injury is latent long-stop dates of up to 30 years apply.
Greece - Time Bars
19/01/2017
Navigate the legal waters in Greece with our guide to time bars and prescription of claims in maritime cases
India - Time Bars
19/01/2017
Navigate India's maritime time bars and limitation periods under the Limitation Act, 1963
Ireland - Time Bars
19/01/2017
Statutory time bars are governed by the Statute of Limitations Act 1957 as amended by the Statute of Limitations (Amendment) Act 1991 and 2000. The statutory limitation periods cannot be extended by agreement. The issue of whether a claim is statute-barred is however a defence that must be raised by a Defendant once proceedings are issued. A court will not consider this issue on its own volition. A defendant may be estopped from relying upon the Statute of Limitations as a defence if their conduct renders it unjust to permit them to do so.
Italy - Time Bars
19/01/2017
Under Italian law, limitation periods depend on the type of claim. For the purpose of the time bars examined in this article, the main statutes are the Civil Code and the Code of Navigation. Time bars are distinguished between prescrizione and decadenza: both cannot be extended or shortened by agreement between the parties, but prescrizione can be protected by a notice of claim which will make a fresh time bar period start to run, whilst decadenza can be avoided only by court action or any other act required by the law or by the contract.
Colombia - Time Bars
18/01/2017
Navigate Colombian legal timelines effectively
Cyprus - Time Bars
18/01/2017
The Limitation of Actionable Rights Law of 2012 (basic Law) along with any amendments, is the Law that regulates the maximum period for claim-filing (legal action) in Cyprus Courts (exclusively within the jurisdiction of the Republic of Cyprus).
Egypt - Time Bars
18/01/2017
Understand Egypt's legal time bars
Finland - Time Bars
18/01/2017
According to the general principle of law debts shall be time bared if the creditor does not demand settlement within a reasonable time. Rules to shorten the limitation periods are implemented in Finnish legislation. The general law on time bar applicable to debts and other obligations are laid down in law 2003/728 Act on Limitations on debts. These general rules are applicable to all sorts of obligations (money, goods, services, damages, indemnities etc.) but do only apply if no special regulations on time bar are stipulated elsewhere in the legislation.
France - Time Bars
18/01/2017
Belgium - Time Bars
17/01/2017
Time Bars under Belgian civil law and Belgian maritime law -
Canada - Time Bars
17/01/2017
Canada is a federal state, in which law-making powers of the central (federal) Parliament and of each of the ten provinces are exclusive and respectively sovereign, and are assigned to one or other of the levels of government essentially according to subject-matter. Most particularly, the power to make laws in relation to "navigation and shipping" is assigned exclusively to the federal Parliament, and scope of this power is interpreted to include matters of contract, tort and agency "integrally connected with maritime matters ... in the modern context of commerce and shipping".
China - Time Bars
17/01/2017
The General Principles of Civil Law of China provides that a general 2-year time bar is applicable for civil claims (Art. 135, The General Principles of Civil Law). The time bar starts counting from the day on which the claimant knows or ought to know that his right is infringed (Art. 137, The General Principles of Civil Law). Under no circumstance should a People's Court support a claim which has exceeded 20 years from the date when the right is infringed.
Argentina - Time Bars
16/01/2017
In Argentina all the matters concerning the navigation and trade by water are governed, mainly, by Argentinian Maritime Law (Nº 20,094). Where an issue it is not expressly contemplated therein - and it cannot be solved by analogy - the general law applies. This context entails some degree of ambiguity which affects, also, some of the time bars.
2017 Reinsurance rates announced
14/12/2016
The International Group today announced that it had concluded terms for 2017 in respect of the excess of loss reinsurance.
Circular 20/16: 2017 POLICY YEAR
13/12/2016
For the 2017 policy year, the Club retention will remain $10 million. The Group Pooling retention will remain unchanged at $80 million and continues to be insured by the Group captive, Hydra, and pre-funded by a premium contribution from each club. This premium is included in the reinsurance rates.