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MARINE INSURANCE CLAUSES

Marine Insurance Clauses

Author(s)                 N. Geoffrey Hudson, Tim Madge, Keith Sturges
Publisher Informa
Date 2012
Pages 435
Format pdf
Size 8.7 Mb

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   This book was conceived in the early 1980s when two partners of Ernest Robert Lindley & Sons, International Average Adjusters, decided to acknowledge and applaud The Quiet Revolution which The London Marine Insurance Market had introduced by redrafting the traditional forms of policy for cargo and ships, bringing them up to date and easier to understand. Although the initial impetus had come from intergovernmental bodies such as UNCTAD and UNCITRAL, nobody could deny that the successful revolutionaries were clad in sober suits and plotted the new policy clauses in quiet committee rooms at Lloyd's and the Institute of London Underwriters. We have published subsequent editions to reflect numerous changes and additions to the clauses, and particularly the new style of the organisation entitled International Underwriting Association of London in 2002. This new edition will bring our readers up to date with the present complex and sometimes confusing variations in policy conditions. In contrast to experience in the hull market, the radical overhaul of Institute Cargo Clauses in 1982 was followed by nearly 30 years of stability—hardly surprising when they swept away the archaic and convoluted wording of earlier forms and brought in clear and plain English to tell the assured what he was covered for. The 2009 revision continued the process, the changes for the most part being cosmetic and reflecting terminology better suited to the times. Some areas of cover have been altered, for example the commencement and termination of risk under the Transit Clause, though the changes are modest and generally in the assured's favour. These changes and recent revisions to the Replacement Clause and War and Strikes Clauses are explained as part of the examination of clauses for all risks, restricted perils, special trades and various incidental clauses...

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