INTERNATIONAL MARINE CLAIMS CONFERENCE LEADER ’S RIGHTS, ROLES & RESPONSABILITIES PANEL DISCUSSION FRENCH MARKET PRACTICE

LEADER’S RIGHTS IN HANDLING THE CLAIM q To decide any matter relating to any claim made under the policy (payments, settlements, claims, surveys, guarantees, towage, salvage, payments on account, claim settlements …) q To appoint and employ any expert of his choice (surveyors, lawyers …) to deal with any matter which gives or may give rise to a claim. q To request counter guarantees from co-insurers where L.O.U. has been issued on behalf of co-insurers q To collect handling fees as per recommended Market Claims Handling Scheme q To settle its own share without having to compensate neither co-insurers refusal to settle their share nor their bankruptcy

LEADER’S DUTIES & OBLIGATIONS TOWARDS CO-INSURERS q To notify claim with initial reserve q To notify settlements and closures q To inform each co-insurer of any legal action q To obtain prior approval of co–insurers for “ ex gratia ” payments, as such payments are not binding on any co-insurer