Define: Running-Down Clause

A running-down clause is a provision in a maritime insurance policy that covers the liability of a shipowner for damage caused by their vessel to another ship or property.

The running-down clause provides coverage for the shipowner’s legal liability for damage caused by their vessel, including collision with another ship, damage to a dock or pier, or other property damage.

No, a running-down clause is not required in maritime insurance policies, but it is a common provision included to protect shipowners from liability for damage caused by their vessels.

A running-down clause typically covers damage to other ships, docks, piers, and other property caused by the insured vessel.

The specific limitations of a running-down clause will depend on the terms of the insurance policy, but it may have exclusions for certain types of damage or specific circumstances.

Yes, a running-down clause can typically be added to an existing maritime insurance policy through an endorsement or amendment to the policy.

The liability under a running-down clause is typically determined based on the circumstances of the incident, including the actions of the ship’s crew, the condition of the vessel, and any other relevant factors.

If you need to make a claim under a running-down clause, you should notify your insurance provider as soon as possible and provide all relevant details and documentation related to the incident.

A running-down clause is typically focused on property damage, but some policies may also include coverage for liability for injuries to individuals caused by the insured vessel.

To ensure that you have adequate coverage under a running-down clause, you should carefully review the terms of your maritime insurance policy and consider any additional coverage options that may be available. It is also advisable to consult with a legal or insurance professional for guidance.