Marine Cargo Insurance
Cargo Underwriting
It is probably a fair statement to say that subrogation involves the cargo market more actively than other branches of marine insurance, and there is accordingly a need for the claims practitioner engaged in that field to understand the relationship between the bailee, the assured and his Underwriters. In collision cases, of course, the matter [...]
General Average – Delivery of Cargo
1 Delivery of cargo With regard to general average security, it should be remembered that the shipowner retains his lien on the cargo only for so long as it remains in his custody. If the cargo is forwarded from a port of refuge to destination in a vessel belonging to the same owners as the [...]
Averting or Minimising Loss
“for the purpose of averting or minimising such loss” This means a loss (or damage) for which the underwriters would respond under the policy, thus reproducing the effect of section 78(3) of the Marine Insurance Act, which states: “expenses incurred for the purpose of averting or diminishing any loss not covered by the policy are [...]
Definitions in Marine Insurance
Definitions in Marine Insurance ABANDONMENT The cession by the insured to the insurer of the remains of his property, and rights relating to it, when a constructive total loss is claimed. ACTUAL TOTAL LOSS There is an actual total loss (a) where the subject-matter of insurance is completely destroyed; (b) where it ceases to be [...]
ΔΙΠΛΑΣΦΑΛΙΣΗ ΣΤΙΣ ΑΣΦΑΛΙΣΕΙΣ ΦΟΡΤΙΩΝ
ΔΙΠΛΑΣΦΑΛΙΣΗ ΚΑΙ ΣΥΜΜΕΤΟΧΗ. Υπάρχει ευρέως η λάθος εντύπωση ότι η διπλή ασφάλιση είναι παράνομη. Όμως το πράγμα δεν είναι ακριβώς έτσι και θα προσπαθήσουμε εδώ να δούμε περιπτώσεις όπου η διπλασφάλιση επιτρέπεται και βέβαια άλλες όπου δεν επιτρέπεται. Η οπτική μας γωνία θα είναι αυτή της ασφάλισης φορτίων. Οι αρχές όμως είναι εφαρμόσιμες σε όλα [...]
inherent vice
“loss damage or expense caused by inherent vice or nature of the subject matter insured.” This exclusion is not limited by the exception of claims resulting from variation in temperature (as is the corresponding exclusion in the Institute Frozen Food Clauses (A), since there is no specific reference to coverage in the Risk Clause for [...]
ADR – ΜΕΤΡΑ ΠΡΟΛΗΨΗΣ ΚΑΙ ΑΣΦΑΛΕΙΑΣ
ΜΕΤΡΑ ΠΡΟΛΗΨΗΣ ΚΑΙ ΑΣΦΑΛΕΙΑΣ Τα μέτρα πρόληψης ατυχημάτων και τα μέτρα ασφάλειας είναι ποικίλα. Θα επισημάνoυμε τα μέτρα εκεί να που, στα πλαίσια της νομοθεσίας, πρέπει να έχουν υπόψη τους οι oδηγoί οχημάτων οδικής μεταφοράς επικινδύνων φορτίων (εμπορευμάτων, αποβλήτων). Γενικότερα, τα μέτρα πρόληψης και ασφάλειας είναι θέμα που πρέπει να το προσέχουμε πολύ, μια και [...]
Marine, Cargo & Related Liabilities Cover
PRODUCT SUMMARY I. CARGO AND RELATED LIABILITY COVER Road Freight Forwarders Road & Rail Hauliers Air Freight Forwarders Ocean Freight Forwarders NVOCs Logistics Operators Warehouse & Depot Operators Courier & Parcel Operators Trucking Operators II. PROFESSIONAL INDEMNITY COVER Ship Agents, Ship Brokers, Ship Managers, Lloyd’s Agents, Marine Consultants, Marine Surveyors, Naval Architects, Forwarding Agents, Marine [...]
“Value on Arrival”
Involves an estimation of what the goods would sell for in whatever condition they would be in on arrival at destination. An additional circumstance (not mentioned in Clause 13) which may also found a claim for a Constructive Total Loss, is set out in section 60(2)(i) of the Marine Insurance Act: “where the assured is [...]
Frustration of the Voyage or Adventure
“Any claim based upon loss of or frustration of the voyage or adventure” This clause was “undoubtedly invented from a desire to abrogate the effect of a case where only the adventure was affected by the peril, the goods being unaffected”. The case is commented, and it will be remembered that the declaration of war [...]