Clause 5-23. Time-limit for notification of a casualty
The assured loses its right to claim compensation if notice of the casualty is not given to the insurer within twelve months of the assured becoming aware of it.
In any event the assured loses its right to claim compensation other than for hull damage below the light waterline if notice of the casualty is not given to the insurer within 24 months of the date of the casualty.
Clause 5-24. Limitation
The assured’s claim for compensation becomes time-barred after three years. The limitation period commences at the end of the calendar year during which the assured acquired the necessary knowledge of the facts on which the claim is based. The claim becomes time-barred in any event at the latest ten years after the end of the calendar year during which the casualty took place.
Under a liability insurance, the insurer’s liability nevertheless does not become time-barred before the time prescribed by the rules that apply to the assured’s liability.
Claims that are notified to the insurer before the claim is time-barred, will not be time-barred before 6 months after the assured has received written notification that limitation will be invoked. The notification shall explain how the limitation period is interrupted. The limitation period will not be extended according to this provision if more than 10 years has passed since the claim was notified to the insurer.
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Clause 5-24. Limitation
The provision was amended in the 2013 Plan. According to the 1996 Plan, the limitation period was running even if the claim was pending before the average adjuster. This provision conformed to the Norwegian Limitation Act, which is mandatory for the benefit of the debtor, cf. Section 28. The…
Go to full Commentary pageClause 5-25. Rules regarding claims notice and limitation for insurance contracts subject to Finnish law and jurisdiction
Where the insurer rejects a claim in full or in part, the insurer shall notify the assured that the assured is obliged to refer the claim for adjustment to the Finnish average adjuster within a time limit of one year under the penalty of forfeiture of its right against the insurer. The time limit shall be calculated from the date at which the assured received written notice of the insurer’s decision and of this time limit.
The insurer shall attach to its decision a claims appeal instruction which explicitly states the time limit within which the claim must be referred for adjustment to the Finnish average adjuster.
The insurer shall be liable for the expenses incurred by the average adjuster and for the adjuster’s fee.
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Clause 5-25. Rules regarding claims notice and limitation for insurance contracts subject to Finnish law and jurisdiction
This Clause was new in the 2013 Plan. Sub-clause 1 corresponds to Cl. 90, sub-clause 1, of the Finnish Marine Hull Insurance Conditions 2001 (English Version), but slightly rewritten to fit the terminology of the Plan. Sub-clause 2 corresponds to said Cl. 90, sub-clause 2. Sub-clause 3 correspond…
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Clause 5-23. Time-limit for notification of a casualty
This Clause was amended in the 2013 Plan to adapt the Plan to its future application in Denmark, Finland and Sweden. Further amendments were made in the 2019 Version. The provision does not contain any actual limitation rule, but a passivity rule which supplements Cl. 3-29 and Cl. 3-31. Accordi…
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