In some trades it is the custom for the buyer to purchase goods on C.I.F. terms and then to take out, in addition to the insurance purchased with the goods (which we shall call the "primary" insurance) further cargo insurance on a so-called "increased value" basis. In such circumstances difficulties have arisen as to how
(“the George S” case) In 1983 it first came to light that some ship's crews were siphoning off their cargo of crude oil to use as fuel. The practice was the subject of a circular to all governments, issued by the Marine Safety Committee of IMO, warning them of a serious danger to both ships
It must be emphasised that not all claims received in the offices of insurers originate through the intermediary of brokers. A considerable number of cargo claims is sent directly to the Underwriters, mainly, of course, where a Company has a 100% interest in the risk insured and no broker is involved. The complexity of dealing
Where a claim is forwarded to a broker for collection a file will normally be made out, and some procedure must be adopted for regulation and control. Of course, the actual method will vary from one broker to another, but apparently some form of register is advantageous if only to keep a series of file
It will be remembered from Section 33, sub section (3) of M.I.A. 1906 that if a warranty is not exactly complied with, then subject to any express provision in the policy, the insurer is discharged from liability as from the date of the breach, but without prejudice to any liability incurred by him before that
Introduction Approximately 80% of world trade currently travels by sea, representing around 93,000 merchant vessels, 1.25 million seafarers, and almost six billion tons of cargo. Since the end of the Second World War, seaborne trade has doubled every decade. In recent years, the international community has witnessed one of the world’s oldest crimes against this
Non-disclosure and Misrepresentation. One of the foundations of contract is the general principle that there is no obligation to speak within the context of negotiations for an ordinary commercial contract. There are countless cases within the principle of caveat emptor in which one party to a contract has, in the course of negotiations, failed to
The principle of good faith It must be borne in mind that all contracts are based upon mutuality of understanding and while the assured is entitled to every penny in settlement of an admissible claim, so is the insurer entitled to base his approach to claims on the conditions of the contract. Failing agreement by
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
Παραγραφή. Απόρριψη αγωγής του υποκατασταθέντος ασφαλιστή Εθνική μεταφορά πραγμάτων πλειόνων παραληπτών (συλλογική μεταφορά) από την Αθήνα στην Πάτρα εφαρμογή του ΕμπΝ. Ασφαλιστική υποκατάσταση. Η εξάμηνη παραγραφή του άρθρου 107 ΕμπΝ δεν συμπληρώνεται κατά την διάταξη του άρθρου 14 παρ. 5 του ν. 2496/1997 «πριν από την παρέλευση έξι 6 μηνών από την υποκατάσταση και εφόσον
