The Principle of Indemnity in Marine Insurance Contracts: A by Kyriaki Noussia

By Kyriaki Noussia

Marine assurance is taken into account one of many oldest of the various kinds of advertisement safety. It has flourished throughout the institution of the establishment of the ''coffee-houses'', in which ''underwriting" used to be being carried out and from the place the evolution and dominance of the Lloyd's has stemmed because the world's most famed coverage marketplace. Marine coverage contracts are distinct in that they have got specific features and in addition be­ reason they're contracts of indemnity. This publication examines the primary of indemnity inside of marine in­ surance contracts. The criminal difficulties with regards to the main, in idea and in perform, are mentioned and evaluated in the course of the quotation and criti­ cal research of the correct case legislations in England besides in one of the most consultant universal legislation and continental legislations jurisdictions, including an research comprising strategies and recommendations on attainable extensions, fur­ ther examine strategies, and a potential fiiture legislations reform. The e-book contains of six (6) chapters: bankruptcy one (1) discusses the background of marine assurance in England and the coverage reasoning at the back of the enactment of a few of the English statutes in addition to the historical past, felony framework and how marine assurance is regulated within the different jurisdic­ tions. bankruptcy (2) discusses the concept that and value of insurable curiosity when it comes to indemnity marine assurance contracts and the cove­ rage provided lower than such contracts either in England and within the different criminal systems.

Show description

Read Online or Download The Principle of Indemnity in Marine Insurance Contracts: A Comparative Approach PDF

Similar comparative books

Comparative Survey of Securities Laws: A review of the securities and related laws of fourteen nations

The part on company legislations of the overseas Bar organization is significantly indebted to the Editor, J. Michael Robinson and to John Gauntlett, the Chairman of the Committee on matters and buying and selling in Securities, and his Vice­ Chairmen, Blaise Pasztory, Robert Briner and the participants of the Committee who've contributed, for his or her joint efforts in getting ready this ftrst e-book in their committee.

The Method and Culture of Comparative Law: Essays in Honour of Mark Van Hoecke

Information for the necessity to deepen the methodological foundations of criminal learn is just fresh. a similar is correct for comparative legislation, by way of nature a extra adventurous department of felony examine, that's usually anything researchers easily do, each time they appear at overseas criminal platforms to reply to a number of of various questions about legislations, even if those questions are doctrinal, monetary, sociological, and so on.

COMECON Data 1990

This guide of statistical facts at the economies of jap Europe, together with Yugoslavia and the Soviet Union covers such issues as distribution and construction, overseas alternate and indebtedness, household finance, strength families and criteria of residing.

Extra info for The Principle of Indemnity in Marine Insurance Contracts: A Comparative Approach

Example text

The history and legislative framework of marine insurance The Australian Law Reform Commission (ALRC) was asked on 21/1/2000 to review the Marine Insurance Act 1909. The Commission was asked to report by 30/4/2001 and it has recommended vast changes to the law governing marine insurance in Australia. The threshold question for the Australian Law Reform Commission was whether to maintain the Marine Insurance Act 1909 and amend it, or repeal it and start again. The Australian Law Reform Commission decided not to abandon the Marine Insurance Act 1909 altogether, retaining the division between general and marine insurance by the use of separate Acts.

4(1), states that every gaming or wagering contract is void,'^^ nevertheless it does not forbid such contracts. L ") terms has continued over the years. This proves that their constant use, serves the scope of meeting a commercial need. These policies are referred to as ''honour" policies because they are binding in honour only and cannot be used as evidence in court. ^^ An interesting case, in relation to the requirement and the existence of insurable interest, is Feasey v Sun Life Assurance Co of Canada^^ In this case, a P&I Club sought to recover unpaid sums that it alleged were due to it from the insurance company under a reinsurance contract.

The importance of having a uniform maritime law was also the legislature's purpose when structuring the Admiralty Clause of the US Constitution4^ which granted jurisdiction to the federal courts as well as a substantive authority to the US Congress to legislate in the field as well as to the federal judiciary to fashion uniform law in the field. ^^ Thus, it is difficult to identify a pure US law of marine insurance. Whilst on some issues there is a uniform national rule that could be described as part of the country's marine insurance law, on other issues there is no such national approach and marine insurance disputes are resolved by reference to state law, should the court decide that state law governs.

Download PDF sample

Rated 4.25 of 5 – based on 42 votes