Limitation of Liability 1996 Protocol Limits Increasing - North

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8 June 2015 saw a significant increase in the limits of liability under the 1996 Protocol to the Convention on Limitation of Liability for Maritime Claims 1976. These increases in tonnage limitation levels will apply in states where the 1996 Protocol is already in force. The increases reflect changes in monetary values, i.e. inflation, since the 1996 Protocol limits were agreed.

The new limits are:

Loss of Life or Personal Injury

On ships not exceeding 2,000 GT is 3.02 million Special Drawing Rights (SDR) (up from 2 million SDR).

Property Claims

For ships not exceeding 2,000 gross tonnage is 1.51 million SDR (up from 1 million SDR).

The levels of limitation under the revised 96 Protocol are illustrated by these examples showing approximate limits in US$ terms:

Members are reminded that there are a number of different tonnage limitation regimes in force across various maritime jurisdictions. In the event of a claim where limitation of liability may be an issue, North’s claims handlers will work with the Member to determine how best to protect their interests.