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.
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One of the main objectives of this monograph by Michael Ford, 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...
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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.
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