The intersection of charter agreements and insurance law is a critical area where contractual obligations meet financial risk management. Our firm offers specialized legal services focused on ensuring that the complex web of responsibilities defined in a charter party is perfectly mirrored by robust insurance coverage. We provide shipowners, charterers, and aviation operators with comprehensive guidance to mitigate liabilities and ensure full regulatory compliance under both the Maritime Code and Air Code of Georgia. A gap between contractual liability and insurance coverage can lead to catastrophic financial exposure, and our primary role is to eliminate this risk through meticulous legal drafting and policy review.
In maritime law, we provide in-depth analysis of charter party agreements, ensuring that insurance clauses are precisely defined and effectively allocate risk. This includes advising on the necessary Hull and Machinery (H&M) insurance to cover physical damage to the vessel and Protection and Indemnity (P&I) insurance, which is essential for covering a wide range of third-party liabilities such as cargo damage, pollution, crew injury, and collision liability. The Maritime Code of Georgia sets forth the framework for liability between the owner and charterer in voyage, time, and bareboat charters. We ensure these statutory responsibilities are seamlessly integrated with the terms of your insurance policies, advising on specific clauses and endorsements required to cover all contractual indemnities.
For the aviation sector, Georgian law, in line with international standards such as the Montreal Convention, mandates compulsory insurance for liability towards passengers, baggage, cargo, and third parties on the surface. We assist air carriers and operators in navigating these requirements, particularly within the context of wet and dry lease charter agreements where insurance obligations can shift dramatically. Our services include a thorough review of insurance certificates to confirm they meet the minimum coverage limits established by the Georgian Civil Aviation Agency (GCAA), advising on hull, war, and allied perils insurance, and ensuring that contractual indemnities within the charter agreement are fully supported by the operator's liability insurance policies.
Beyond structuring agreements, our team provides critical support in the event of a claim. We guide clients through the complex process of claims handling, from initial incident reporting to final settlement. This includes managing communications with insurers, P&I Clubs, and third parties, as well as providing legal representation in disputes over policy coverage or liability under the charter party. By harmonizing the charter terms with the necessary insurance coverage from the outset and providing expert support during a crisis, we provide our clients with a comprehensive legal shield against the financial consequences of unforeseen events.
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