Force Majeure (FM):- Means extraordinary events or circumstances which is beyond human control, and even described as act of god like natural calamity. The Ministry of Finance (Department of Expenditure Procurement Policy Division) has issued a clarification that corona virus will be covered in the force majeure clause (FMC) and should be considered as a case of natural calamity. Effects on contract...

As the compliance is becoming stringent and the Indian society and business is getting more litigious, the directors and officers insurance policy which compensate key management personnel of a company against legal actions is gaining importance in the Indian market. Previously, the policy was purchased by businesses due to global exposures like regulations, compliances and exposures related to the foreign...

Incident- On 19th March 2019, Norsk Hydro ASA, one of the world’s biggest aluminium manufacturers, has confirmed that Cyberattack affected operations. The firm detected unusual activity on its servers that disabled part of its smelting operations, leading Norsk Hydro to isolate all plants and process and switched to manual operations and procedures. Norsk Hydro has also confirmed that it has...

Corona Virus has had a dreadful effect on the way business is conducted. Here we present to you a list of disruptions caused by it and a few recommendations on how we can help combat those. Corona virus effect Global shipping has been hit by the coronavirus. Giant shipping companies such as Maersk, MSC Mediterranean Shipping, Hapag-Lloyd and CMA-CGM have...

“Vessel Casualty Report gives details of vessels which have met with some casualty while carrying cargo from one Port to another and which may have resulted in (i) loss/damage to the cargo carried in the vessel or (ii) General Average Loss/Expenditure. Please go through the Casualty Report and check whether your cargo had been carried in any of the vessels mentioned therein and check...