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This third edition, like the previous editions, addresses a difficult subject in language understandable to both laymen and professionals. The book deals with the principles of marine insurance applicable to both ship and cargo interests, from the start of negotiations with insurers to the signing of the policy. Thereafter, it takes the reader through the various losses that are recoverable. Such volatile subjects as mortgagee's interest insurance and punitive damages are also dealt with.
An account of the underlying law and the practical rules which govern the adjustment of rights and liabilities between parties to a maritime adventure when extraordinary measures have been incurred for the benefit of the common adventure. The third edition incorporates international case law developments to bring the text up to date and analyses the revision of the basic practical rules underlying general average adjustment internationally. It is essential for all those involved with maritime affairs to understand the implications of these new rules and how they fit with existing law and practice.
Written from the perspective of the Average Adjuster, and updated to include a detailed analysis of the new rules adopted in 2016, this book is an essential read for practitioners in maritime law and marine insurance. The book contains: historical references regarding the establishment of General Average from Roman Law onwards; details of the establishment of International rules to achieve uniformity in the adjustment of General Average and their development: the Glasgow Resolutions of 1860; the York rules of 1864; and the York-Antwerp Rules 1877, 1890, 1924, 1950, 1974, 1994, 2004 and 2016; a detailed analysis of the York-Antwerp Rules 2016; CMI Guidelines relating to General Average; general average security; general average absorption clauses; and new to this edition: insurance of average disbursements.
An account of the underlying law and the practical rules which govern the adjustment of rights and liabilities between parties to a maritime adventure when extraordinary measures have been incurred for the benefit of the common adventure. The third edition incorporates international case law developments to bring the text up to date and analyses the revision of the basic practical rules underlying general average adjustment internationally. It is essential for all those involved with maritime affairs to understand the implications of these new rules and how they fit with existing law and practice.
General average is considered to be one of the most uniformly regulated topics of maritime law. This study concludes that this perception is flawed. The invariably applicable York-Antwerp Rules do not provide a full regime, whereas their applicability is generally contractual only. As a result, questions arise as to which law applies to general average obligations, how the applicable national law is to be determined (taking into consideration the impact of the European Rome I and II Regulations), and what is provided in the national regimes. In addition, questions arise as to what the influence is of contractual provisions set out in contracts for the carriage of goods by sea and general average security forms, and how the various sources interact. This study contains an in depth assessment of these questions.
This open access book explores the history of risk management in medieval and early modern European maritime business, focusing particularly on 'General Average' – a mechanism by which extraordinary expenses regarding ship or cargo, incurred during a voyage to save the venture, are shared between all participants to protect equity. This volume traces the history of this risk management tool from its origins in the pre-Roman Mediterranean through to its use in the shipping sector today. Contributions range from the Islamic Mediterranean to the Low Countries, and taken together, provide a wide-ranging analysis of social, cultural, and political aspects of pre-modern maritime commerce in Europe.
Written from the perspective of the Average Adjuster, this book is an essential read for practitioners in maritime law and marine insurance. The book contains: • Historical references regarding the establishment of GeneralAverage from Roman Law onwards • Establishment of the International rules: • The Glasgow Resolution 1860 • The York rules of 1864 • The York-Antwerp Rules 1877, 1890, 1924, 1950, 1974 & 1994 • The variation and changes to the text in 2004 but only those which had a significant effect • Why the 2004 changes were not universally adopted; and • General average security.