Marine Insurance: Law and Practice, Second Edition, continues to provide the most comprehensive and integrated account of the English law and practice of marine insurance. It provides readers with a fresh and up-to-date review of the modern law in the light of traditional principles and rules of underlying commercial law, and the specific statutory rules of marine insurance as interpreted by case law, as moderated in practice by market practices and standard form marine insurance clauses. Francis Rose clarifies the law’s underlying framework of principles and illustrates how it works in common contractual situations, explaining how the different components of the law interact.
The new edition has been updated to incorporate:
• the most recent case law: there have been some very important judgments handed down since the book first published, including: The Cendor MOP, The Silva, The Resolute and The Marina Iris
• the implications of the introduction of: Institute Cargo Clauses 2009, the effect of the Gambling Act 2005 and the Third Parties (Rights Against Insurers) Act 2010 Law Commission reform proposals
The book explores in detail the following areas:
• the nature of insurance
• insurable interest
• the insurance contract
• the premium
• insured risks
• marine risks
• double insurance
"The second edition has, in my view, achieved the difficult task of surpassing the first edition in terms of scholarship and analytical discussion. It is also notable for a wide coverage of relevant authorities. It will become indispensable to lawyers, academicians and other persons interested in marine insurance, not only in the United Kingdom but throughout the commen law world."
"…this text (is) one that all in the field will find themselves constantly consulting in the years to come."
Judge of the Supreme Court of Singapore
Alison Green, the Chairman of the Trustees of the BILA Charitable Trust said, as she awarded the BILA Book Prize to Francis:
“This textbook is a welcome addition to the texts on marine insurance law as it combines in one volume all the areas which a practitioner or student of marine insurance law needs to know. It is written in a very readable style, which makes it readily approachable for those unfamiliar with this topic. It combines an academic's insight into the law with a modern and practical approach to problems that frequently beset marine insurance. This book richly deserves to be the winner of the annual BILA book prize."
1. The nature of insurance 2. The subject-matter of insurance 3. Insurable interest 4. Intermediaries 5. Presentation of the risk and utmost good faith 6. The contract 7. Parties 8. The premium 9. Terms of the contract 10. Period of cover 11. Departure of cover 12. Varying cover 13. Insured risks 14. Marine risks 15. Inchmaree risks 16. Liabilities 17. Discord (“War and Strikes”) risks 18. Exclusions 19. Causation 20. Aversion and minimisation of loss 21. Losses 22. Partial losses 23. Total loss 24. Abandonment 25. Quantifying the indemnity 26. Claims 27. Subrogation and recoupment 28. Double insurance and contribution APPENDICES
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