Choose category

Ballast Water Management Convention to enter into force – Impacts on the environment, shipowners and the cleantech industry

The International Convention for the Control and Management of Ships’ Ballast Water and Sediments, adopted by the IMO (International Maritime Organization) in 2004, will enter into force on 8 September 2017. The Convention specifies standards for ballast water and sediments management to follow. It applies, in principle, to all ships in international traffic. The Convention…

New Motor Liability Insurance Act enters into force

The new Motor Liability Insurance Act entered into Force on January 1 2017, renewing the previous act from 1959. The reform process began in 2004 and the end result is a clear and easily understandable act which responds to existing and future needs. Motor liability insurance safeguards the innocent party’s legal protection and compensation. The…

Validity of legal expenses insurance

The purpose of legal expenses insurance is to cover the legal fees charged by a lawyer representing the insured in an insurance event. The right to coverage arises when there is a dispute, such as a claim or charge that has been disputed. Legal expenses insurance indemnifies only insurance events occurring during the validity of…

Ship carrying no cargo entitled to loading capacity reduction of fairway dues

According to Section 11 of the Fairway Dues Act, the amount of fairway dues will be reduced if a ship is not fully loaded according to the particular loading capacity utilisation rate, which is calculated by comparing the combined total of cargo imported into and exported out of Finland. Section 11 has been subject to…

Insurer’s right to terminate cancer insurance

When research and development of a new type of insurance fails or insurance products priced low at the time of marketing become unprofitable thereafter, insurers are inclined to amend conditions repeatedly, raise premiums or close down the insurance portfolio by referring to extensive and unspecified insurance conditions. However, these remedies are not necessarily available under…