What does a Running Down Clause in a marine policy specifically address?

The Running Down Clause specifically addresses the liability of the vessel owner for collisions with other vessels. In marine insurance policies, this clause ensures that if a vessel owned by the insured collides with another vessel, the insurance can cover damages resulting from this incident. It is particularly important in maritime operations, where collisions can lead to significant losses not just to the insured's own vessel but also to other parties involved. This indicates the focus on liability for collision incidents, reinforcing the need for such coverage in marine policies. Consequently, this clause plays a crucial role in defining the responsibilities and protections for vessel owners when navigating congested waterways or challenging conditions.