Average Adjusting Division of J.B. BODA handles whole gamut of marine claims arising from loss or damage to different types of ships like general cargo carriers, tankers, bulkers, container vessels, dredgers, OSVs, drillships, oceanography vessels, barges, trawlers etc.
Particular Average (PA) damage forms an important part of the work of the Division. In a PA loss, the division synchronises information to deal with issues, such as:-
Although General Average (GA) is a concept which traces its origin in ancient maritime law (Rhodian Law), it is still an integral part of the admiralty law of most countries. In order to achieve uniformity in treatment of GA, York Antwerp Rules (YAR) were formed in 1877 which have undergone various revisions, generally leading to progressive extensions in the scope of GA. Today, invariably all charter parties incorporate GA clause stating that GA to be adjusted as per YAR.
General Average is an internationally recognised system, where intentional losses or expenses arising out of a General Average situation are shared and paid for by all those involved in the common maritime adventure. Our job as General Average Adjuster is to:-
Despite modern aids to navigation and stringent safety regulations there has been a steady increase in the incidents giving rise to total loss of ship. Total loss broadly falls into two categories viz., Actual Total Loss and Constructive Total Loss.
Where the subject matter insured is destroyed or so damaged as to cease to be a thing of the kind insured i.e. “loss of specie” or where the assured is irretrievably deprived of the subject matter insured there is an Actual Total Loss.
Whereas, there is a Constructive Total Loss where the subject matter insured is reasonably abandoned on account of its actual total loss appearing to be unavoidable, or because it cannot be preserved from actual total loss without an expenditure which would exceed its insured value when the expenditure had been incurred.
In total loss cases the Average Adjusting Division of J.B. BODA & Co. assists in:-
Collisions at sea normally cause mutual damage and if both sides are at fault, the assured under the hull policy will have a claim against the owner of the other ship for a fraction of his own damage concurrently whilst being liable for a corresponding fraction of the other ship’s damage.
In collision matters, the Average Adjusting Division of J.B. BODA & Co. Pvt. Ltd. assists in:-
Loss of hire insurance is an insurance against shipowner’s failure to earn monies accruing from the use of a vessel due to a marine casualty preventing the insured vessel from operating.
We prepare loss of hire claims under different policy forms in use and calculate the underwriters’ liability after considering excess of number of days as provided in the policy.
J.B. BODA & Co. Pvt. Ltd. also deals in shipbuilders’ and ship repairer’s claims. In consultation with our technical advisors, we analyse the liability arising out of any claim for both the above mentioned policies and adjust the claim according to the established principles to ensure prompt settlement.
The hull policy imposes a duty upon the assured and their agents to take such measures as may be reasonable and necessary for the purpose of averting or minimising a loss which would be recoverable under the policy. The pre-requisite for any claim under the sue & labour clause is first that the peril averted must be one that is covered under the policy and second there must have been danger of loss which would have been covered by the policy.
J.B. BODA Average Adjusting Division not only assists in preparation of sue & labour claim but also advises the clients on the thin demarcation in distinguishing whether the claim falls on general average, salvage and sue & labour charges. In adjusting these claims underinsurance is considered if applicable and apportionment of these charges are also done on excess liabilities policy.