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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: Wang Hui Publisher: Kluwer Law International B.V. ISBN: 9041142827 Category : Law Languages : en Pages : 442
Book Description
This remarkable book – the first in-depth examination of the civil liability regime for marine oil pollution damage from a law and economics perspective – examines the efficiency and effectiveness of the regime, with particular attention to whether it is in fact designed in the public interest or merely a distribution of risks and costs among interested parties. The question is asked: does the liability system give the potential polluter incentives to take precautionary measures to avoid pollution or to reduce the possibility of pollution? The international regime on civil liability for marine oil pollution rests on the International Convention on Civil Liability for Oil Pollution Damage (CLC) and the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage (Fund Convention). However, the world’s biggest oil consumer and importer – the United States – has ratified neither, preferring its own Oil Pollution Act of 1990 (OPA), and China – currently the world’s second oil-consuming country – has not ratified the Fund Convention. Thus it is reasonable to compare the three regimes – international, US, and China – as such a comparative study may reveal some advantages or disadvantages among the three systems. Among the issues raised and tackled head-on by the author are the following: whether the contents of international conventions can be considered as the result of the influence of the various interest groups involve; overview of the regulations of marine pollution; technical standards, rules for operation, professional criteria; to what extent a state may take action against trans-boundary polluting activities; what liability a state may incur for non-action or non-effective action; significance for liability of the charter-party, generally considered the evidence of the hire of a ship, and the bill of lading, considered the evidence of the contract of carriage of goods by sea; the crucial role of the so-called ‘International Group’ of 13 Protection and Indemnity (P & I) Clubs, non-profit organizations specializing in liability insurance; the main international players – the International Maritime Organization (IMO), the Comité Maritime International (CMI), and industry organizations such as INTERTANKO and the Oil Companies International Marine Forum (OCIMF); the particular regime on offshore facility pollution liability in the United States; port state control; criminal liability; and EU and other regional initiatives. In addition, a detailed study of the Erika case reveals some of the rationale for many of the persistent features of marine pollution liability regimes. The well-thought-out legal and economic analysis provided in this book, along with its clearly stated policy recommendations and constructive perspectives for future development of the liability system, will be immeasurably valuable to lawyers and policymakers active in this highly visible area of international law.
Author: Nicolai I. Lagoni Publisher: Springer Science & Business Media ISBN: 3540729151 Category : Law Languages : en Pages : 394
Book Description
Because the liability of ship owners is limited, classification societies have been considered as exempt from liability. This book analyses which actions of classification societies may give rise to claims and whether or not the societies can be held liable under English, German or American maritime law. In addition, it develops the fundamental aspects of an international convention on the limitation of the liability of classification societies.
Author: United Nations Publisher: ISBN: 9789211129281 Category : Political Science Languages : en Pages : 116
Book Description
The Review of Maritime Transport is an UNCTAD flagship publication, published annually since 1968 with 2018 marking the 50 year anniversary. Around 80 per cent of the volume of international trade in goods is carried by sea, and the percentage is even higher for most developing countries. The Review of Maritime Transport provides an analysis of structural and cyclical changes affecting seaborne trade, ports and shipping, as well as an extensive collection of statistical information.
Author: Leonardo Martinez-Diaz Publisher: U.S. Commodity Futures Trading Commission ISBN: 057874841X Category : Science Languages : en Pages : 196
Book Description
This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742
Author: Duygu Damar Publisher: Springer Science & Business Media ISBN: 3642215092 Category : Law Languages : en Pages : 333
Book Description
The main rationale of the conventions on international transport law is to limit the liability of the carrier. However, an aspect common to these conventions is that in cases of "wilful misconduct" the carrier is liable without any financial limitation. "Wilful misconduct" denoting a high degree of fault is an established term in English law. The Convention for the Unification of Certain Rules relating to International Carriage by Air (Warsaw Convention) of 1929 was the first international convention on transport law where the term was employed. A definition of "wilful misconduct", which can be found in later conventions regarding carriage of goods and passengers as well, was implemented in the Hague Protocol of 1955, amending the Warsaw Convention. However, the question as to exactly which degree of fault constitutes "wilful misconduct" has to date remained controversial and unanswered. This work seeks to answer this question. To this end, the historical background of the term, together with its function and role in marine insurance law, case law and international transport law, are examined from a comparative perspective.
Author: Patrick Griggs Publisher: Taylor & Francis ISBN: 1000285758 Category : Law Languages : en Pages : 661
Book Description
This fourth edition addresses certain developments, including the 1996 Protocol to the 1976 Limitation Convention, which have come into effect since publication of the previous edition. The chapters on limitation of liability for passenger claims and in relation to the carriage of goods have been updated, as has the chapter on limitation regimes worldwide. The book also focuses upon the practicalities of seeking to limit by reference to case law and procedural rules.
Author: Muhammad Masum Billah
Author: Muhammad Masum Billah
Author: Wang Hui
Author: Nicolai I. Lagoni
Author: National Response Team (U.S.)
Author: Bronwen Manby
Author: United Nations
Author: Leonardo Martinez-Diaz
Author: Duygu Damar
Author: International Maritime Organization
Author: Patrick Griggs