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

Forside
Springer Science & Business Media, 6. aug. 2007 - 298 sider
Marine Insurance is considered one of the oldest of the many forms of commercial protection. It has flourished through the establishment of the institution of the ''coffee-houses'', wherein ''underwriting" was being conducted and from where the evolution and dominance of the Lloyd's has stemmed as the world's most famous insurance market. Marine insurance contracts are special in that they have special characteristics and also be cause they are contracts of indemnity. This book examines the principle of indemnity within marine in surance contracts. The legal problems related to the principle, in theory and in practice, are discussed and evaluated through the citation and criti cal analysis of the relevant case law in England as well in some of the most representative common law and continental law jurisdictions, together with an analysis comprising thoughts and proposals on possible extensions, fur ther research options, and a possible fiiture law reform. The book comprises of six (6) chapters: chapter one (1) discusses the history of marine insurance in England and the policy reasoning behind the enactment of the various English statutes as well as the history, legal framework and the way marine insurance is regulated in the other jurisdic tions. Chapter two (2) discusses the concept and importance of insurable interest in relation to indemnity marine insurance contracts and the cove rage offered under such contracts both in England and in the other legal systems.
 

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Innhold

1 The history and legislative framework of marine insurance
1
112 The Lombards
2
113 Early English marine insurance
3
115 The first marine insurance companies
4
116 The evolution of Lloyds and other forms of marine insurance companies
5
117 The growth and evolution of the system and law of marine insurance
6
118 The policy reasons which generated the enactment of the Marine Insurance Act 1906
8
12 The history and legislative framework of marine insurance in Greece
9
36 Types of losses in marine insurance contracts under the Canadian law regime
122
37 Types of losses in marine insurance contracts under the Australian law regime
123
38 General conclusive remarks and comparative discussion
124
4 Valuation and the measure of indemnity in marine insurance contracts
127
4111 Valued and unvalued policies
128
4112 The mode of calculation and the finality of losses
135
412 Valuation and the measure of indemnity in Greece
136
413 Valuation and the measure of indemnity in Norway
139

13 The history and legislative framework of marine insurance in Norway
11
14 The history and legislative framework of marine insurance in France
13
15 The history and legislative framework of marine insurance in the USA
15
152 The situation prior to and after the Wilburn Boat Co v Firemans Fund Insurance Co case
16
16 The history and legislative framework of marine insurance in Canada
20
17 The history and legislative framework of marine insurance in Australia
21
18 General conclusive remarks and comparative discussion
22
basic features and cover provided
27
insurable interest
31
21121 Definition and evaluation of the concept of insurable Interest and the requirements set by law for it
32
21122 On the illegality of the insured adventure
40
21124 Critique on the existence of the requirement for insurable interest in relation also to overvaluation
42
212 Basic features of the marine insurance contracts in Greece
43
2122 The nature and objective of marine insurance contracts in Greece
44
basic requirements
45
insurable interest
47
2132 Insurable interest under the Norwegian law regime
49
214 Basic features of the marine insurance contracts in France
50
insurable interest
51
215 Basic features of the marine insurance contracts in the USA
52
216 Basic features of the marine insurance contracts in Canada
54
insurable interest
55
217 Basic features of the marine insurance contracts in Australia
57
the reform proposals
59
22 The cover offered under marine insurance contracts in the various common law and continental law jurisdictions
65
222 The coverage offered under marine insurance contracts in Greece
70
223 The coverage offered under marine insurance contracts in Norway
73
224 The coverage offered under marine insurance contracts in France
74
225 The coverage offered under marine insurance contracts in the USA
75
226 The coverage offered under marine insurance contracts in Canada
76
227 The coverage offered under marine insurance contracts in Australia
77
the reform proposals
78
23 General conclusive remarks and comparative discussion
80
3 Types of losses in marine insurance contracts
88
actual total loss
90
actual total loss of a ship a total wreck
92
a missing ship
93
where the assured is irretrievably deprived of the subjectmatter insured
95
actual total loss of freight caused by a total loss of ship andor goods
96
3111f Recovery for a partial loss
97
3112 Constructive total loss
98
reasonable abandonment of the subject matter insured
100
deprivation of possession of ship or goods
102
abandonment of the subjectmatter insured the meaning of the notice of abandonment
105
3112 Indemnity and partial losses
110
31122 General average losses
111
31123 Indemnity and the sue labour clause
113
321 Total loss and abandonment under the Greek law regime
114
33 Types of losses in marine insurance contracts under the Norwegian law regime
116
332 Types of losses under the Norwegian marine insurance law
118
34 Type of losses in marine insurance contracts under the French law regime
119
35 Types of losses in marine insurance contracts under the US law regime
121
414 Valuation and the measure of indemnity in France
140
415 Valuation and the measure of indemnity in the USA
141
416 Valuation and the measure of indemnity in Canada
142
42 Total losses and the measure of indemnity
143
422 Total losses and the measure of indemnity in Greece
149
423 Total losses and the measure of indemnity in Norway
150
424 Total losses and the measure of indemnity in France
154
425 Total losses and the measure of indemnity in the USA
155
426 Total losses and the measure of indemnity in Canada
157
4311 Partial loss of a ship and the measure of indemnity
158
4312 Partial loss of goods and the measure of indemnity
159
4313 Partial loss of freight and the measure of indemnity
160
4314 General average losses and the measure of indemnity
161
433 Successive losses and the measure of indemnity in England
163
434 Sue labourand the measure of indemnity in England
164
435 Sue labour and the measure of indemnity in Norway
166
436 Sue Labourand the measure of indemnity in Canada
167
442 Overinsurance and the reopening of valuation in Greece
172
45 Floating policies and opencover insurance
174
452 Floating opencover policies and the measure of indemnity in Greece
192
454 Floating opencover policies and the measure of indemnity in the USA
193
46 Critical discussion on valuation and the measure of indemnity
194
47 Salvage and the measure of indemnity
197
48 Consequential future profit loss and the measure of indemnity
199
49 Mortgagees interest insurance and the measure of indemnity
204
410 Double Insurance and the measure of indemnity
207
4102 Double insurance and the measure of indemnity in Norway
211
4103 Double insurance and the measure of indemnity in Canada
212
411 General conclusive remarks and comparative discussion
213
5 Subrogation rights arising from marine insurance contracts
215
512 The rights in respect of which subrogation arises and their extent the persons upon which subrogation rights may be effected
216
513 Recovery in the case of underinsurance or partial insurance
227
52 The rights of the insurer on payment in marine insurance contracts in Greece
230
53 The rights of the insurer on payment in marine insurance contracts in Norway
231
54 The rights of the insurer on payment in marine insurance contracts in France
234
56 The rights of the insurer on payment in marine insurance contracts in Canada
237
571 The main areas of the reform in relation to subrogation under the Australian law regime
239
58 General conclusive remarks and comparative discussion
241
6 Discussion on the principle of indemnity in marine insurance contracts
245
62 Advantages and disadvantages of the proposition for a future law reform
252
622 The arguments for and against a law reform by means of new codification
253
63 Alternatives to legislative reform
259
64 Provisions related to indemnity in need of reform
261
642 The discussion on possible reform of the sections relating to the measure of indemnity
263
65 General conclusions and future prospects
264
Bibliography
268
Table of Cases
275
Table of Statutes
289
Index
292
About the Author
295
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