Marine Insurance

It goes without saying that marine insurance is deservedly considered one of the oldest forms in which commercial protection is accomplished. It has been developed through the establishment of the famous institution of so-called "coffee-houses", wherein the first "underwriting" activities were being conducted; in fact, that is from where the evolution and industry dominance of the Lloyd's has actually stemmed as the most famous insurance market in the whole world. It should be noted that the marine insurance contracts are quite special because they all have some special characteristics; moreover, they are considered special because they are contracts of indemnity.

The present publication by Kyriaki Noussia is examining the principles of indemnity within the above mentioned contracts, as well as the most important legal problems relating to this principle, both in theory and in practice - they have all been thoroughly analyzed, evaluated and discussed, and so many informative case studies have been collected by the author and included in the present work.

The book starts with the historical overview of the marine insurance, followed by the chapters covering the indemnity contracts, types of losses. valuation and measure of indemnity, subrogation rights, and the discussion on this principle. The content of the book is supplemented with the tables of cases and statutes. A very good reference source for anyone involved in the marine insurance.​​

The marine insurance plays a critically important role giving the maritime shipping industry required confidence to trade by offering due financial protection against all potential transit and maritime losses that may be encountered. It goes without saying that without the insurance all shipping operations and associated transactions would get curtailed since the participants would have no other choice than to rely solely on the funds they possess and use them to cover the incidents and damages.

The marine insurance therefore delvers the invaluable briefing on the subject sector. The content of this publication has been developed by several world known and recognized experts in the field of marine insurance analyzing the Marine Insurance Act of 1906 and discussing the fundamental marine insurance principles.

In addition to all stated above, in their work the contributing author have detailed all important aspects of particular vs. general average and provided information on the indemnity as well as third-party liability. They have also provided readers with the examination of marine insurance claims together with the actual, constructive and compromised total loss concepts in detail, making them easily understandable.

The role of warranties in marine insurance has sparked debate in recent years and there have been calls for reform of this area of the law. This book sets out the current law on marine insurance warranties. It further looks at the position on warranties through the wider perspective of how the defence of breach of warranty fits into the scheme of the other major defences the marine insurer may have under a marine policy.

Whether there is any justification for calls for reform is then considered. The law in other jurisdictions is assessed, before specific proposals for possible reforms are set out. At a time when there is a flurry of cases in the English courts on warranties, when the CMI is considering the law on marine insurance and other marine insurance markets may be growing at the expense of the London market, it would be well for all those involved in the London marine insurance market to consider the points made in this eminently readable and thought provoking book.

In the very first release of this world popular publication on marine insurance it's authors celebrated the introduction of the newly presented set of relevant policy forms covering the cargoes worldwide. In fact, they wee actually designed as stand-alone documents. Subsequent editions of the book have been published to keep it updated with the numerous additions and changes to the marine insurance clauses.

This latest edition of the volume is aimed to bring the readers up-to-date with the today's complex and confusing variations in the  policy conditions. The content of the book has been arranged in five major parts, the first part being pure introductory. the part two is dedicated to the marine cargo forms - it starts with some historical perspective and covers all cargo clauses including the restricted perils and particular commodities, as well as occasional/additional clauses. The third part is dealing with the marine hull forms and covers all associated clauses.

The next part of the book addresses the additional insurances available for the ship owners and covers excess liabilities, extended conditions, freight insurance and other aspects. Finally, the closing part deals with the war and strikes risks forms. Definitely must have one for the marine insurance professionals.

One of the main objectives of this monograph by Baris Soyer, one of the world recognized exerts in the field of marine insurance, was to provide readers with a very comprehensive legal analysis of two aspects. The first is the impact that the marine insurance fraud has on the position of various involved parties to a contract of marine insurance, while the second is the cover that is provided by standard policies.

That is why the author of the present volume has divided it into two parts. The first part of the book is dedicated to the analysis of the impact of insurance fraud that is committed b a parties to the contract, i.e. the assured, insurers and brokers. The part two of the book, in turn, is mainly dealing with the analysis of the extent to which the dishonest activities of third parties to a contract (for example, ship crew members or even pirates) is actually covered by the existing standard marine policies.

Note that this volume was initially designed to offer readers a thorough analysis on frauds and that is why the author believes that it shall also discuss all above stated matters. Though the existing marine policies provide some cover against the fraudulent activity of third parties, it shall definitely be taken into account that the relationship between the insured risks and excluded perils could be quite difficult to ascertain...

The present document provides the comparison of the three different releases of the York Antwerp Rules. Subject Rules govern the general average cases. The YAR were originally instigated at the international conference held in York back in 1864. The objective of the Rule is the promotion of the international uniformity when dealing with the general average; another objective is making the whole process involved effective from the commercial point of view.

The content of the rules is subject to periodical update under the auspices of the CMI, standing for the Comite Maritime International made up of the national MLAs, i.e. Maritime Law Associations. This latest 2016 release of the Rules includes numerous minor changes such as the amendments made to the numbering system.

They also feature better consistency in the terminology used. It should be noted that the amendments to the YAR have not altered the meaning of the Rule that is why the authors of the present document have not considered it necessary to highlight them. All important additions and changes have been shown. The new Rules include several variations in the text when compared to the 1994 and 2016 releases. A must-have publication for every party of the maritime insurance process.

The content of the present report is focusing on the established good practices and also covers the innovative interventions that are intended to improve the labor conditions on board ships and to protect the people employed in this sector of marine industry. It is following the report by the ILO that was released back in 2013 and addressed the trafficking and forced labor in fisheries.

Subject report provided information about the knowledge about human trafficking and forced labor today together with the existing legal and institutional frameworks involved. The fishing sector of marine industry is known for the work deficits. Though majority of the companies operating fishing vessels work compliant with the legal frameworks and commonly avoid serious work deficits, there still have been some cases that tarnished the overall reputation of this sector.

This shall be given particular attention taking into account the economic importance of the fishing industry both from the employment and food security perspective. Even though the main focus is made on Asian region, actually the cases of forced labor and human trafficking take place worldwide. According to ILO, more than twenty million people are engaged in forced labor...

The incidents occurring at sea are normally very complex; moreover, they are complicated and consuming much time. Such maritime incidents happen without any prior warning and therefore people on board shall be able to make decisions quick enough as their actions have a direct impact on the subsequent handling of any incident. This, in turn, will affect the merits of the associated liabilities and claims.

The officers and crew members of the vessels are people who are affected in the first turn, together with the shore-based personnel considered responsible for the emergency response. Though the members of the team may possess different practical experience, they all need to step in and get the situation under control. The content of this guidebook issued by the GARD is divided in four major sections. The first section provides information about the categories of claims including bunker and cargo claims, collision and people claims, general average and pollution claims, dangerous goods and FFO claims and others - literally all of them.

Three other sections of the book cover safe ports claims such as salvage, towage, and wreck removal claims and also addresses the limitation of liability, frustration and other aspects. Two remaining sections deal with the principles and structure of the insurance, and claims management. In short, this is an excellent training and reference tool.