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Author: Muhammad Masum Billah Publisher: Springer Science & Business Media ISBN: 331903488X Category : Law Languages : en Pages : 330
Book Description
The book examines how the absence of insurance in the past led to some special maritime liability law principles such as ‘general average’ (i.e., losses or expenses shared by all the parties to a maritime adventure) and the limitation of shipowners’ liability. In the absence of insurance, these principles served the function of insurance mostly for shipowners. As commercial marine insurance is now widely available, these principles have lost their justification and may in fact interfere with the most important goal of liability law i.e., deterrence from negligence. The work thus recommends their abolition. It further argues that when insurance is easily available and affordable to the both parties to a liability claim, the main goal of liability law should be deterrence as opposed to compensation. This is exactly the case with the maritime cargo liability claims where both cargo owners and shipowners are invariably insured. As a result, the sole focus of cargo liability law should be and to a great extent, is deterrence. On the other hand in the vessel-source oil pollution liability setting, pollution victims are not usually insured. Therefore oil pollution liability law has to cater both for compensation and deterrence, the two traditional goals of liability law. The final question the work addresses is whether the deterrent effect of liability law is affected by the availability of liability insurance. Contrary to the popular belief the work attempts to prove that the presence of liability insurance is not necessarily a hindrance but can be a complementary force towards the realization of deterrent goal of liability law.
Author: Muhammad Masum Billah Publisher: Springer Science & Business Media ISBN: 331903488X Category : Law Languages : en Pages : 330
Book Description
The book examines how the absence of insurance in the past led to some special maritime liability law principles such as ‘general average’ (i.e., losses or expenses shared by all the parties to a maritime adventure) and the limitation of shipowners’ liability. In the absence of insurance, these principles served the function of insurance mostly for shipowners. As commercial marine insurance is now widely available, these principles have lost their justification and may in fact interfere with the most important goal of liability law i.e., deterrence from negligence. The work thus recommends their abolition. It further argues that when insurance is easily available and affordable to the both parties to a liability claim, the main goal of liability law should be deterrence as opposed to compensation. This is exactly the case with the maritime cargo liability claims where both cargo owners and shipowners are invariably insured. As a result, the sole focus of cargo liability law should be and to a great extent, is deterrence. On the other hand in the vessel-source oil pollution liability setting, pollution victims are not usually insured. Therefore oil pollution liability law has to cater both for compensation and deterrence, the two traditional goals of liability law. The final question the work addresses is whether the deterrent effect of liability law is affected by the availability of liability insurance. Contrary to the popular belief the work attempts to prove that the presence of liability insurance is not necessarily a hindrance but can be a complementary force towards the realization of deterrent goal of liability law.
Author: Susan Hodges Publisher: Routledge ISBN: 1135346933 Category : Law Languages : en Pages : 1165
Book Description
This book provides a comprehensive collection of Cases and Materials On Marine Insurance Law. The sources included here are not always readily accessible. Each chapter is introduced with a brief resume of the general principles,before the facts of each case are summarised and the extracts of the relevant parts of judgments reproduced. The significance of the judicial extracts, the statutory materials and standard terms are then discussed with particular emphasis on important and problematical areas of the law.This book will be indispensable not only to postgraduate students of law, in-house lawyers, insurance brokers and claims adjusters, but also to students of maritime studies, legal practitioners and a wide range of professionals within the shipping industry who may wish to have at hand a convenient source of information. Whilst the book is a companion to the authors The Law of Marine Insurance, it is also structured to stand as a marine insurance text in its own right.
Author: Muhammad Masum Billah Publisher: ISBN: Category : Languages : en Pages : 36
Book Description
Incentive effect of liability law may be affected by the presence of liability insurance. Apparently when a party has liability insurance and does not have to pay directly from its own pocket, it will have less motivation to exercise proper care. This tendency of an insured is known as “moral hazard.” There are many studies on the problem of “moral hazard” and on various mechanisms how to address it. Yet, there is a lack of academic discussion on comparative analysis between liability law and liability insurance in terms of their effect on creation of incentives; that is, whether liability law alone induces best care or whether liability insurance with its various incentive mechanisms leads to better care. Of course, liability insurance cannot exist without liability law. This paper argues that the presence of liability insurance produces better incentives towards care than liability law alone.
Author: Özlem Gürses Publisher: Taylor & Francis ISBN: 1000844595 Category : Law Languages : en Pages : 591
Book Description
Marine Insurance Law introduces and clearly explains all topics covered in undergraduate and postgraduate-level courses, offering students and those new to the area a comprehensive and accessible overview of this important topic in maritime law. Observing the general principles of the subject and structure and formation of insurance contracts, this text goes on to look at individual considerations in detail, including the duty of utmost good faith/fair presentation of the risk, insurable interest, terms of insurance contracts, warranties and conditions, brokers, the premium, causation and marine perils, losses, sue and labour, subrogation, fraudulent claims, and reinsurance. The third edition has been fully updated and expanded to cover additional pre-Marine Insurance Act 1906 (MIA 1906) cases, as well as the implications of the Insurance Act 2015 on the duty of fair presentation of the risk in business insurance and on the remedy for breach of a warranty. The reader will also read about the emphasis placed by the UK Supreme Court on the construction of s. 55 of the MIA 1906, and the challenges faced in respect of claims for a constructive total loss of the subject matter insured, which are especially current at the time the book is being prepared for its publication. This textbook is the ideal companion for any student, academic, and practitioner wishing to study the subject and to explore more detailed information on the principles of marine insurance law.
Author: Susan Hodges Publisher: Routledge ISBN: 1135426805 Category : Law Languages : en Pages : 915
Book Description
This book provides a critical and comprehensive study of the law of marine insurance. The book explores the relationship and interaction between the Marine Insurance Act 1906, the common law and the terms of the Institute Clauses.
Author: Donald O'May Publisher: ISBN: Category : Business & Economics Languages : en Pages : 720
Book Description
Starting with an historical view of marine insurance, this book then deals specifically with hull and cargo perils and cargo exclusions and goes on to cover cause, sue and labour, general average, salvage, total loss, subrogation and double insurance. It is intended for lawyers and non-lawyers
Author: D. Rhidian Thomas Publisher: Taylor & Francis ISBN: 1000816249 Category : Law Languages : en Pages : 336
Book Description
This fifth volume in the series comprises ten contributions written by an expert team of academics and practitioners. Collectively they analyse and expound many of the contemporary legal issues and debates in the law and practice of marine insurance. The new volume is not to be considered as a "new edition" superseding the earlier volumes. To the contrary, it extends on the previous coverage and contributes to the expanding coverage of the series. It achieves this by introducing new topics for analysis and by noting significant developments in themes considered in earlier volumes, thereby providing a useful tool for keeping abreast of an ever developing body of judicial law. This volume tackles topics such as the impact of the Insurance Act 2015 on remedies and the pre-contractual duty of insurers, as well as a contribution from Professor Wilhelmsen on the state ship arrest as a peril under the Nordic Marine Insurance Plan and London terms. It explores the impact of Brexit on jurisdiction in marine insurance whilst also dedicating time to the comparison of US and English law relating to the duties of brokers, and analyses the "but for" test in marine insurance as well as historical development of the law relating to fraudulent claims. Alongside many other important topics, this book meticulously examines Direct and Third-Party claims against P & I Insurers, Passenger liabilities and class actions, Seaworthiness and the operation of the MIA 1906 s.39 post Insurance Act 2015 and the insuring of autonomous and remote-controlled vessels. This book is essential reading for maritime lawyers, brokers and insurance market practitioners, academics, and companies associated with the marine insurance markets worldwide.
Author: Kyriaki Noussia Publisher: Springer Science & Business Media ISBN: 3540490744 Category : Law Languages : en Pages : 307
Book Description
This book discusses legal issues related to the principle of indemnity in marine insurance contracts as well as disputes that may arise in a representative sample of common and continental law jurisdictions. It offers a comparative examination of Australian, English, Canadian, French, Greek, Norwegian and U.S. law. It examines the scope for a legal reform and the potential of achieving a better, more flexible, and modern indemnification regime.
Author: Ayça Uçar Publisher: Routledge ISBN: 1000207722 Category : Law Languages : en Pages : 198
Book Description
The Supreme Court ruling in Global Process System Inc. v Syarikat Takaful Malaysia Berhad (The Cendor MOPU) created a shock wave in the London marine insurance market, as the Supreme Court decision changed the boundaries of doctrine with respect to the meaning of ‘perils of the sea’ and ‘inherent vice’. Both phrases play an important role in the insurance market, affecting both assureds and insurers and their respective interests under all classes of marine insurance policies. This book reviews the origin of the clauses ‘perils of the sea’ and ‘inherent vice’ by tracing back through the early cases in order to understand the origin and noting how and why the changes occurred. It will examine how the law has been developed in the recent cases and discuss whether the Supreme Court case The Cendor MOPU has overruled the previous cases in terms of the clauses ‘inherent vice’ and ‘perils of the sea’. Considering the impact of The Cendor MOPU decision with respect to the Marine Insurance Act 1906, as well as the standard Institute Cargo Clauses, it evaluates whether the decision is consistent with these things and discusses the effect of the decision on recent cases and on the insurance market.
Author: Muhammad Masum Billah
Author: Muhammad Masum Billah
Author: Muhammad Masum Billah
Author: Susan Hodges
Author: Muhammad Masum Billah
Author: Özlem Gürses
Author: Susan Hodges
Author: Donald O'May
Author: D. Rhidian Thomas
Author: Kyriaki Noussia
Author: Ayça Uçar