Limitation of Liability for Maritime Claims
The shipowner’s right to limitation of liability is a basic feature of the general maritime law of the United States. Although the concept has been criticised by some commentators, limitation of liability continues to be considered by shipowners and their insurers as a significant right. The formation of a limitation fund and a concursus for claims also benefits claimants. Because the United States has not adopted the International Convention on Limitation of Liability for Maritime Claims, the rules are different in an American limitation action than in Convention countries.