What is 3/4th Clause or Run Down Clause?

0
Marked as spam
Asked on June 1, 2021
1 views
Private answer

In this clause, the insurer is liable to pay the 3/4th of the claim to the assured, which arises from the legal liability as a result of collision.
The insurer indemnifies the assured of the 3/4th of the sum paid.
Remaining amount is paid by the P and I club.
Points agreed for this clause are: loss or damage to other vessel, delays to other vessel, general average, salvage, damage to property of the other vessel, etc.

Marked as spam
Posted by marinetales
Answered on June 1, 2021