Court ruling ‘aligns English and US law on CTL calculations’
The Renos decision on Constructive Total Loss calculation overturns previous precedents and finally brings English law into line with US law as well as textbook and academic opinion, according to the lawyer who acted for the owners in the case. The Supreme Court held that when the Marine Insurance Act refers to ‘damage’, this can be taken to mean the entire damage arising from a casualty from the moment it happens
‘It seems to me that if you need to do things to get your ship back, to be in a position to repair it, those things have to be paid for,’ argues Patrick Hawkins of Hill Dickinson