In the case of a general average the Shipowner has a responsibility at law to ensure the completion of an general average adjustment, when credit is due to the other parties of the adventure.
The Average Adjuster depending on each market’s practice is appointed either by the Assured or by the Insurer. Irrespective of the appointment though, the Average Adjuster is obliged to exercise impartiality and maintain the true independent spirit of his profession.
The Average Adjuster is entitled to a remuneration for his services which is normally recoverable by the Insurers and forms part of the product of his work, the Average Adjustment.
Oceana is a proud member of the Association of Average Adjusters, founded in 1869, having played ever since an important and leading role in the development of today’s market practices, rules and insurance conditions.