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Code of Federal Regulations Title 50. Wildlife and Fisheries § 50.296.8 Amount of award

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) Actual damages. The award for damaged fishing gear will be the lesser of the gear's repair cost or replacement cost. The award for lost fishing gear will be the gear's replacement cost.

(b) Consequential damages. An award may also include compensation for any damage or loss (except personal injury) that is incurred as a consequence of the fishing gear damage or loss.

(c) Resulting economic loss. An award may also include 50 percent of the resulting economic loss from damage to or loss of fishing vessels and gear.

(d) Attorney, CPA, consultant fees.

An award may also include compensation for reasonable fees paid by the claimant to an attorney, CPA, or other consultant for the preparation or prosecution of a claim.

(e) Negligence of claimant.

(1) An award will be reduced to the extent that the loss or damage was caused by the negligence or fault of the claimant. (For example, a claimant who sustained $10,000 in damages and whose negligence or fault was found to be responsible for 40% of the damage would receive $6,000 in compensation. If the same claimant were responsible for 99% of the negligence or fault that caused the damage, the claimant would receive $100 in compensation).

(2) Negligence of the owner or operator of the fishing vessel or gear will reduce crewmember awards to the same extent that it reduces an award to the vessel's owner or operator.

(f) Insurance proceeds. An award will be reduced by the amount the claimant has, or reasonably would have, received under a commercial policy of full hull and machinery and protection and indemnity insurance, whether or not such insurance was in effect at the time the casualty occurred.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 50. Wildlife and Fisheries § 50.296.8 Amount of award - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-50-wildlife-and-fisheries/cfr-sect-50-296-8/

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