Overview

The latest edition of the standard work on marine insurance. This book combines description of the practice with the principles on which the practice is based, and sound knowledge of the way the business is conducted.

This sixth edition of the standard work on marine insurance will appeal to everybody concerned with marine insurance.

Content

Chapter 1 Introduction and Commercial Need for Insurance

Introduction to Marine Insurance

Definition of Marine Insurance

The Fundamental Principles

The Documentary Credits System

Export Credits Guarantee

Quantitative and Qualitative Control

Safe Contracts and relevant Cargo Insurance Contracts

Need to Insure

Marine Insurance Categories

The Marine Insurance At. 1906.

Chapter 2 London Insurance Markets and Associations

Introduction to Lloyds Marine Insurance Market

Lloyd’s Underwriting memebers

Lloyd’s Memebership Chain of Security from 1998

Lloyds Corporate Membership

Lloyds Underwriting Agents and Syndication

Lloyd’s Council, Committee and Regulatory Boards

The Corporation of Lloyd’s

Security in a Lloyd’s Policy

Lloyd’s Underwriters’ Association

Lloyd’s Agents and the Intelligence Service

Lloyd’s Single Market

The London Marine Insurance Company Market

The Institute of London Underwriters

Markets Outside London

Insurance Brokers and Brokers’ Associations

Marine Insurance Company Agents

Chapter 3 Insurable Interest

Introduction

Definition of Insurable Interest

Attachment of Interest

Partial Interest

Lost or Not Lost

Proprietary Interest

Cargo Interests

Consignee’s Interest

Cargo Owner’s Liability Interest

Hull Interests

Incidental Interests

PPI Policies

Underwriter’s Insurable Interest

Double Insurance

Coinsurance

Underinsurance

Assignment

Chapter 4 Good Faith and Warranties

The Principle of Good Faith

Disclosure and Non-Disclosure

Representation and Misrepresentation

Introduction to Marine Insurance Warranties

Express Warranties

Implied Warranties

Chapter 5 The Principle & Proximate Cause & Marine Insurance Perils

The Principle of Proximate Cause

Perils in an SG Policy Form

Extraneous Risks

Risks Covered in a Contract Based on the MAR form of Policy

Statutory Exclusions

Customary Policy Exclusions

Perils Not Covered by a Marine Insurance Policy

Chapter 6 Partial and Total Loss

Particular Average and FPA Conditions

Introduction to Partial Loss

Partial Loss of Goods

Partial Loss of Ship

Partial Loss of Freight

Introduction to Total Loss

Introduction to Actual Total Loss

Actual Total Loss of Goods

Actual Total Loss of Ship

Missing Ship

Introduction to Constructive Total Loss

Constructive Total Loss of Goods

Constructive Total Loss of Freight

Effect of Abandonment

Notice of Abandonment

Compromised or Arranged Total Loss of Ship

Chapter 7 The Marine Insurance Policy

The Need for a Policy

The SG Form of Policy

Ambiguity in Policy Wording

The MAR form of Policy

J and J(A) Policy Forms

Slip Policies

Stamp Duty and Taxes

Valued and Unvalued Policies

Increased Value Policies

Floating Policies

PPI Policies

Chapter 8 Marine Policy Conditions

Introduction

Basic Cover in a Marine Insurance Contract

Franchises and Deductibles

Limited Terms Insurance Contracts

Cargo FPA Conditions (SG Policy)

Cargo FPA Conditions and Current Practice

Hull and Machinery FPA Conditions (SG Policy)

Hull and Machinery FOD Conditions (SG Policy)

Hull and Machinery TLO Conditions

Cargo WA Conditions (SG Policy)

Cargo “All Risks” Cover and Policy Deductibles

Freight at Risk Insurance

Introduction to War Risks Insurance

Cargo War Risks Conditions

Cargo Strikes, etc. Risks Conditions

Hull War & Strikes Risks Conditions

Chapter 9 Attachment and Termination of Cover

Introduction

Attachment of Cover where Ship Insured for a Voyage (SG Policy)

Attachment of Cover where Ship Insured for a Voyage (MAR Policy)

Voyage Variations

Excuses for Deviation and Delay in Prosecution of Voyage

Termination of Cover where Ship Insured by a Voyage Policy

Period Covered by a Hull Time Policy

Termination of Cover for Ship Insured by a Time Policy

Cargo Voyage Policies

Warehouse to Warehouse Cover and the Transit Clause

Cargo Open Cover

Cargo War Risks Cover

Transhipment of Goods

Chapter 10 Effecting a Marine Insurance Contract

Introduction

Direct Placing

Broker Placing

The Placing Ship

Market Leaders and Written Lines

Observing Good Faith in Practice

Overplacing

Reducing Lines and Closing the Risk

The Original Slip, Off Slips and Brokers’ Covernotes

Brokers’ Office Procedures

Signing Slips and Policies

Chapter 11 Premiums, Additional Premiums and Returnable Premiums

Introduction

The Premium Rate

Payment of Premium

Broker’s Responsibility for Premium Payment

Delay in Premium Payment

Receipt of Premium (SG Policy)

Brokerage and Discounts

Deferred Premiums

Additional Premiums

Returnable Premiums

Insolvency of Insurer

Chapter 12 Measure of Indemnity

Introduction

Total Loss

Partial Loss of Ship

Partial Loss of Freight

Partial Loss of Goods

Salvage Loss Settlements

Chapter 13 Sue & Labour, Salvage, Subrogation and Double Insurance

Introduction to Sue and Labour

Sue and Labour Clause (SG Policy)

Duty of Assured Clause

Effect of Under-Insurance on Sue and Labour Charges

Sue & Labour in Modern Practice

Sue and Labour Charges

Particular Charges

Salvage and Salvage Charges

Lloyd’s Salvage Agreement

Subrogation Rights

Letter of Subrogation

Double Insurance

Chapter 14 Marine Liability Insurance and Negligence

Introduction to Marine Liability Insurance

Contractual Liability

Third Party Liability

Shipowners’ Liabilities

Statutory Limitation of Liability

Collision Liability (Hull)

Running Down Clause

Cargo Owner’s Liabilities

Both to Blame Collision Clause

Negligence

Inchmaree Clause (1970)

Negligence Cover (1995)

Chapter 15 General Average Principles and The York/Antwerp Rules

Origins of General Average

Intoduction to General Average

The Purpose of General Average

Average Adjusters and Adjustments

Introduction to the York/Antwerp Rules

The York/Antwerp Rules 1994 and the Rules of Practice

Chapter 16 General Average Procedures, Documentation, Adjustments and Underwriters Liability for General Average

Procedures and Documentation

ntroduction

General Average Security

General Average Bond

Banks and Binding Companies

Underwriters’ Guarantee

General Average Deposit

Average Disbursements

General Average Adjustments

Contributory Values

More than One GA Act in same Voyage

Salvage Prior to GA act in Same Voyage

Underwriters’ Liability for General Average

Statutory Liability

Direct Claim for GA Sacrifice

Cargo Sacrifice

Ship Sacrifice

Freight in GA Sacrifice of Goods

Subrogation Rights in GA Sacrifice

GA Expenditure

GA Contribution

Details

Title: Marine Insurance Volume 1: Principles/Basic Practice, 6th Edition
Number of Pages: 408
Product Code: 4405Q003
ISBN: ISBN 13: 978-1-85609-150-3 (9781856091503), ISBN 10: 1-85609-150-3 (1856091503)
Published Date: September 1998
Binding Format: Hardback
Book Height: 220 mm
Book Width: 140 mm
Book Spine: 30 mm
Weight: 0.70 kg