The Function Of Protection Indemnity Marine Insurance In Relation To Ship Owner S Liability For Cargo Claims
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The Function Of Protection Indemnity Marine Insurance In Relation To Ship Owner S Liability For Cargo Claims
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Author : Joseph Tshilomb JK, LLM;MSc
language : en
Publisher: AuthorHouse
Release Date : 2016-03-04
The Function Of Protection Indemnity Marine Insurance In Relation To Ship Owner S Liability For Cargo Claims written by Joseph Tshilomb JK, LLM;MSc and has been published by AuthorHouse this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-04 with Technology & Engineering categories.
In the early days of shipping and international maritime trade many more casualties occurred at sea. Ever since, ship owners liability for cargo claims has been increasing both in number and in cost in spite of the huge technical development in international maritime transport. In order to make it easier for ship owners to operate safely and efficiently the Protection and Indemnity appeared around 1870 as mutual marine insurance. Besides Hull & Machinery and Cargo Insurance offered on the international commercial market in insurance, Protection and Indemnity Insurance (known under the acronym P&I) is a ship owners insurance cover for legal liabilities to third parties. This cover is generally achieved by entering the ship in a mutual insurance club. Nowadays, the mutuality is performed by an underwriter who endeavors to see that each owner carries his fair share of the risk. The members of P&I clubs are ship owners, charterers or ship management companies. At present, a major function of the Protection and Indemnity insurance is to cover the ship owner for legal and contractual liability for loss of cargo or damage to cargo if there has been a breach of the carriage contract. This liability is called Third party liability. The ship owner will handover the cargo claim to his P&I Club. In order to clarify this liability, Article 3, Paragraph 2 of the Hague Visby rules stipulates: Subject to the provisions of Article 4 the carrier shall properly and carefully load, handle, stow, carry, keep, care for and discharge the goods carried. Therefore, the focus in this research study is placed on the function of Protection and Indemnity insurance covering the ship owners liability for damage to cargo or loss of cargo.
Effects Of Insurance On Maritime Liability Law
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Author : Muhammad Masum Billah
language : en
Publisher: Springer
Release Date : 2016-08-23
Effects Of Insurance On Maritime Liability Law written by Muhammad Masum Billah and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-08-23 with Law categories.
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.
War Risk And Certain Marine And Liability Insurance July 19 20 And 21 1950
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Author : United States. Congress. House. Committee on Merchant Marine and Fisheries. Subcommittee on Maritime Affairs
language : en
Publisher:
Release Date : 1949
War Risk And Certain Marine And Liability Insurance July 19 20 And 21 1950 written by United States. Congress. House. Committee on Merchant Marine and Fisheries. Subcommittee on Maritime Affairs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1949 with Marine insurance categories.
Considers legislation to authorize U.S. Maritime Commission issuance of liability insurance for off-season iron ore shipments on Great Lakes for national defense needs, pt. 3.
An Introduction To P I Insurance And Loss Prevention
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Author : North of England P & I Association
language : en
Publisher:
Release Date : 2008
An Introduction To P I Insurance And Loss Prevention written by North of England P & I Association and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Marine insurance categories.
This guide provides a comprehensive introduction to the fascinating world of marine liability insurance. It focuses in particular on the services provided by the members of the International Group of P&I Clubs, who mutually insure over 90% of the world's ocean-going fleet of merchant shipping tonnage. The guide also introduces the key international conventions and regulations governing international shipping practice as well as the all-important topic of maritime lossprevention. Mutual shipowners' liability clubs originated in England in the nineteenth century and this guide is written and published by the world's first combined protection and indemnity club - North of England P&I Association. Formed in 1886, the club is now widely regarded as one of the most successful. This guide is intended as a standalone publication for anyone wishing to get a basic grounding in P&I insurance and loss prevention. It also serves as the main reference book for North of England's long-established Training course on the topic. -Back cover.
Marine P I Policy Annotations
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Author :
language : en
Publisher: American Bar Association
Release Date : 1982
Marine P I Policy Annotations written by and has been published by American Bar Association this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Business & Economics categories.
Marine Insurance
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Author : Sam Ignarski
language : en
Publisher: Kogan Page
Release Date : 2018-03-09
Marine Insurance written by Sam Ignarski and has been published by Kogan Page this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-09 with Business & Economics categories.
Examines the way marine insurance markets function and covers liability, insurance, law, the market and claims.
Marine Reinsurance
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Author : Robert Henry Brown
language : en
Publisher: Hyperion Books
Release Date : 1981
Marine Reinsurance written by Robert Henry Brown and has been published by Hyperion Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Business & Economics categories.
The Principles Of Marine Insurance
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Author : Harold A. Turner
language : en
Publisher:
Release Date : 1986
The Principles Of Marine Insurance written by Harold A. Turner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Business & Economics categories.
Marine Insurance Claims
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Author : J. Kenneth Goodacre
language : en
Publisher: Witherby, Limited
Release Date : 1974
Marine Insurance Claims written by J. Kenneth Goodacre and has been published by Witherby, Limited this book supported file pdf, txt, epub, kindle and other format this book has been release on 1974 with Business & Economics categories.
Unctad Model Clauses On Marine Hull And Cargo Insurance
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Author : United Nations Conference on Trade and Development
language : en
Publisher: New York : United Nations
Release Date : 1989
Unctad Model Clauses On Marine Hull And Cargo Insurance written by United Nations Conference on Trade and Development and has been published by New York : United Nations this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Business & Economics categories.