Liability

The INTRAMAR team is very experienced with specific contracts within the oil- and gas and offshore wind industry. Most of these contracts show provisions regarding indemnification (hold harmless) waiver of subrogation rights and co-insurance of the client/principal.

These specific provisions combined with the typical business risks of the companies involved, are the basis of our advisory work. In close conjunction with the client will be consulted how contracting- / purchase / lease- / delivery terms and conditions, etc. can be optimized for the work.

As a next step the risk profile of the company’s activities will be determined together with the client.
Finally, investigations will be made how insurance requirements can be met and
what consequences this entails.

Ultimately, the process as described above should lead to coverage for the
following risks:

• Legal (public) and contractual liability.
  This referring to liability for damage to third parties including principals and subcontractors, as well as liability for damage to any third party.
• Employers Liability.
  Liability for damage to employees, incurred in the exercise of their profession, by all means. Modern law has virtually no room to get out of this heavy responsibility. Claim costs have increased by reduced social security benefits.
• Products liability.
  Basically, each producer is liable for damage caused by its delivered product. Companies that “only” assemble or import can be considered under certain conditions as a producer.
• Professional liability (also called Professional / indemnity)
  Liability can arise out of an incorrect or incomplete advice/design/calculation, etc.
  Although professional faults not necessarily have to lead to direct physical damage,  any error can bring major financial consequences. For some professions this type of insurance is compulsory, like lawyers, accountants and insurance brokers.

• Directors and Officers liability.
  Directors and officers auditors of companies, associations and foundations can be hold liable in person by -among others- employees, pension institutes, etc. should the company, association or foundation cause financial damage to such parties.
  Such claims filed with the Enterprise Chamber, may cause long-term (read: very expensive) litigation.
• Owners Liability (ships).
  The owner of a vessel is basically responsible for all risks associated with the ownership, operation, use, etc. of a ship.
• Charterer’s Liability (ships).
  The Charterer of a vessel (including floating objects, like cranes, barges, etc.)
  will meet several liabilities arising out of the Charter Part. Being the user of the vessel, charterer may be addressed by, among others, (port)authorities for damages caused by / through the vessel.

The above is only a brief summary of some more or less common liabilities. The team at INTRAMAR its utmost every day to arrange cover for the above risks, supporting the Clients to focus on the job to be done.