OFFERING FINANCIAL
PROTECTION AGAINST MARITIME AND TRANSIT LOSSES, MARINE INSURANCE GIVES THE
SHIPPING INDUSTRY THE CONFIDENCE TO TRADE. WITHOUT THE SHELTER FROM RISK
PRESENTED BY INSURANCE, SHIPPING TRANSACTIONS AND OPERATIONS WOULD BE SEVERELY
CURTAILED AS PLAYERS WOULD HAVE TO RELY ON THEIR OWN FUNDS TO COVER ACCIDENTS,
LOSS OR DAMAGE. MARINE INSURANCE DELIVERS A
VALUABLE BRIEFING ON THIS IMPORTANT SECTOR. INSURANCE AND REINSURANCE MARKETS
ARE REVIEWED, AS ARE THE ROLE OF THE MARINE INSURANCE BROKER AND LONDON MARKET
ASSOCIATIONS, SUCH AS THE INTERNATIONAL UNDERWRITING ASSOCIATION. THE BOOK
ANALYSES THE UK MARINE INSURANCE ACT 1906 AND DISCUSSES THE PRINCIPLES OF
MARINE INSURANCE. IN ADDITION, IT DETAILS THE NUANCES OF PARTICULAR VERSUS
GENERAL AVERAGE AND COVERS INDEMNITY AND THIRD-PARTY LIABILITY.
LOOKING AT POLICIES, MARINE INSURANCE CONSIDERS
FACULTATIVE CARGO INSURANCE AND CARGO AND TIME CLAUSES IN GREAT DETAIL. IT
INCLUDES POLICIES AND STAND-ALONE INSTITUTE CARGO CLAUSES IN FULL FOR A BETTER
UNDERSTANDING OF THE COMPLEXITIES INVOLVED. CLAIMS ARE EXAMINED AND THE
CONCEPTS OF ACTUAL TOTAL LOSS, CONSTRUCTIVE TOTAL LOSS AND COMPROMISED TOTAL
LOSS ARE EXPLAINED IN DETAIL.
|