T&T: Liability Only problem ?

[Ryan R. Healy]

It's called subrogation Dennis.  If the insurance company got wind that the
owner is in possession of a professional survey that indicates that the
vessels' wiring is in disrepair *and* the reason for an insured loss was due
to continued operation with that particular vessel defect, you can bet they
would go back to the owner to recoup their losses.

It is for this very reason that most insurance companies require a periodic
survey once a boat reaches a certain age.  As a vessel ages, latent defects
develop that tend to create more losses for the insurance companies.

A responsible owner should repair any defects that are detected and insure
appropriately.

-Ryan

-----Original Message-----
From: trawlers-and-trawlering-bounces at lists.samurai.com
[mailto:trawlers-and-trawlering-bounces at lists.samurai.com] On Behalf Of
Dennis
Sent: Saturday, November 01, 2008 5:06 PM
To: trawlers
Subject: T&T: Liability Only problem ?

So, the boat is technically "unsafe" due to needing re-wiring.