Retention of limitation of liability in maritime claims in modern business environment in the UK, USA, and Nigeria

This paper examines the relevance of limitation of liability in maritime claims in today’s business environment in the UK, USA, and Nigeria. The paper finds that the concept is well entrenched in the legislation of many countries especially the ones under review. The authors contend that given the development of modern technologies that greatly reduce the risks inherent in maritime business, the advent of insurance, and the corporate form of ownership of ships which provides ship owners with additional ways to insulate their investments from risk, limitation of liability for maritime claims should be consigned to the dust bin of history