The Principle of Indemnity in Marine Insurance Contracts (eBook)

Preface 6
Contents 8
Abbreviations 15
1The history and legislative framework of marine insurance 18
1.1. Historical and policy reasons behind the various English statutes 18
1.2. The history and legislative framework of marine insurance in Greece 26
1.3. The history and legislative framework of marine insurance in Norway 28
1.4. The history and legislative framework of marine insurance in France 30
1.5. The history and legislative framework of marine insurance in the USA 32
1.6. The history and legislative framework of marine insurance in Canada 37
1.7. The history and legislative framework of marine insurance in Australia 38
1.8. General conclusive remarks and comparative discussion 39
2. Indemnity marine insurance contracts: basic features and cover provided 43
2.1. Basic features of the marine insurance contracts 43
2.2. The cover offered under marine insurance contracts in tlie various common law and continental law jurisdictions 81
2.3. General conclusive remarks and comparative discussion 96
3. Types of losses in marine insurance contracts 104
3.1. Types of losses in marine insurance contracts under the English law regime 104
3.2. Types of losses in marine insurance contracts under the Greek law regime 128
3.3. Types of losses In marine Insurance contracts under the Norwegian law regime 131
3.4. Type of losses in marine insurance contracts under the French law regime 134
3.5. Types of losses in marine insurance contracts under the US law regime 136
3.6. Types of losses in marine insurance contracts under the Canadian law regime 137
3.7. Types of losses in marine insurance contracts under the Australian law regime 138
3.8. General conclusive remarks and comparative discussion 139
4. Valuation and the measure of indemnity in marine insurance contracts 141
4.1. Valuation and the measure of indemnity 141
4.2. Total losses and the measure of indemnity 157
4.3. Partial losses and the measure of indemnity 171
4.4. Over-insurance and the re-opening of valuation 181
4.5. Floating policies and open-cover insurance 188
4.6. Critical discussion on valuation and the measure of indemnity 208
4.7. Salvage and the measure of indemnity 211
4.8. Consequential, future profit loss and the measure of indemnity 213
4.9. Mortgagee's interest insurance and the measure of indemnity 218
4.10. Double Insurance and the measure of indemnity 221
4.11. General conclusive remarks and comparative discussion 227
5. Subrogation rights arising from marine insurance contracts 229
5.1. The rights of the insurer on payment in marine insurance contracts in England 229
5.2. The rights of the insurer on payment in marine insurance contracts in Greece 244
5.3. The rights of the insurer on payment in marine insurance contracts in Norway 245
5.4- The rights of the insurer on payment in marine insurance contracts in France 248
5.5. The rights of the insurer on payment in marine insurance contracts in the USA 248
5.6. The rights of the insurer on payment in marine insurance contracts in Canada 251
5.7. The rights of the insurer on payment in marine insurance contracts in Australia 251
5.8. General conclusive remarks and comparative discussion 255
6. Discussion on the principle of indemnity in marine insurance contracts 259
6.1. General critique 259
6.2. Advantages and disadvantages of the proposition for a future law reform 266
6.3. Alternatives to legislative reform 273
6.4. Provisions related to indemnity in need of reform 275
6.5. General conclusions and future prospects 278
Table of Cases 288
A. Australia 288
B.England 289
C. Canada 296
D. France 296
E.Greece 297
F. Norway 298
G.USA 298
A. Australia 301
B.England 301
C. Canada 301
D. France 302
E. Greece 302
F. Norway 302
G. USA 303
Index 304
About the Author 307