EFFECTS OF INSURANCE ON MARITIME LIABILITY LAW
|Author(s)||Muhammad Masum Billah|
|D O W N L O A D|
This publication was written to provide thorough examination of the negative consequences that the absence of insurance may have and had in the past, for example the special principles of the maritime liability law such as the "general average" and limitation of the maritime insurance for owners.
These principles used to serve the function of insurance for the owners in the absence of actual insurance. Nowadays. since the commercial maritime insurance is available, all of subject principles do not have any justification and my actually be interfering with the deterrence from negligence considered the most important goal of the liability law.
In fact, the author of the present work is recommending abolition of these principles and is further arguing that since the insurance is widely available and easily affordable to both parties, the main objective of the liability law shall be the deterrence as opposed to the compensation. And this is the case with the claims where both ship owners and cargo owners are invariably insured...
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