[Code of Federal Regulations]
[Title 50, Volume 7]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 50CFR296.8]

[Page 703]
 
                    TITLE 50--WILDLIFE AND FISHERIES
 
  CHAPTER II--NATIONAL MARINE FISHERIES SERVICE, NATIONAL OCEANIC AND 
           ATMOSPHERIC ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 296_FISHERMEN'S CONTINGENCY FUND--Table of Contents
 
Sec. 296.8  Amount of award.

    (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.

[47 FR 49600, Nov. 1, 1982, as amended at 50 FR 13796, Apr. 8, 1985]