York Antwerp Rules

The York-Antwerp Rules are a set of internationally accepted rules that govern the apportionment of liability and the assessment of damages in marine insurance. They are named after the two cities where they were first adopted, York in England and Antwerp in Belgium.

The York-Antwerp Rules are not a part of the law of any country, but they are widely used by insurers and underwriters in the settlement of marine insurance claims. They are also used by arbitrators and courts in resolving disputes over marine insurance claims.

The York-Antwerp Rules are divided into 13 sections, each of which deals with a different aspect of marine insurance. Some of the sections deal with general principles, such as the duty of the insured to mitigate their losses. Other sections deal with specific types of losses, such as losses caused by fire, collision, or stranding.

The York-Antwerp Rules are periodically revised to reflect changes in the law and practice of marine insurance. The most recent revision was in 2016.

The York-Antwerp Rules are an important part of the law of marine insurance. They provide a set of clear and consistent rules that govern the apportionment of liability and the assessment of damages in marine insurance claims. This helps to ensure that marine insurance claims are handled fairly and efficiently.

Here are some of the key provisions of the York-Antwerp Rules:

* The insured is required to take all reasonable steps to mitigate their losses.
* The insurer is liable for losses that are caused by a peril insured against.
* The insurer is not liable for losses that are caused by a peril that is not insured against.
* The insurer is liable for a proportion of the loss that is caused by a peril that is both insured against and not insured against.
* The insurer is liable for the cost of repairs that are necessary to restore the insured property to its condition before the loss.
* The insurer is not liable for the cost of repairs that are unnecessary or that are not in accordance with good practice.

The York-Antwerp Rules are a complex set of rules. However, they are an important part of the law of marine insurance. They provide a set of clear and consistent rules that govern the apportionment of liability and the assessment of damages in marine insurance claims. This helps to ensure that marine insurance claims are handled fairly and efficiently.