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ACQ 2016-1

Introduction of FDD

This insurance – often known as FD&D cover – provides assured with cover for legal costs – and legal assistance – in relation to a wide range of disputes arising from the building, buying, selling, owning and operation of an entered vessel.

Usually it is provided under Club’s Rules in the ordinary way, to an overall limit of liability per claim as well as a deductible which usually entails some contribution from the assured to the cost of prosecuting or defending a relevant claim but subject, in the normal way, to an overall cap.

It should be noted that FD&D cover does not provide insurance against any principal sum in dispute – e.g. unpaid hire or deadfreight under a charterparty – but it does cover the cost of employing lawyers and other experts in the prosecution or the defense of such matters.