Having discussed the essential features of general average it is now suitable to examine the detailed York-Antwerp Rules dealing with sacrifice and expenditure. It will be remembered that these are the numbered Rules, which according to the Rule of Interpretation, take importance over the lettered Rules where any conflict arises. Sacrifice usually involves the jettison
General Average A basic understanding of general average (GA) is important to a surveyor and when a GA is declared by a shipowner it can provide a great deal of survey work, often involving several surveyors acting for the different parties. It is recommended that surveyors study the subject from one of the texts listed
Where assureds have no financial interest in the outcome of the legal proceedings taken in their name they are generally content to let the matter proceeds without their active involvement. However, it may take time to settle the insurance claim and the assured may wish to protect their position in case the insurance claim fails,
Origins and nature of the right of subrogation The insurer's right to take legal proceedings in the name of the assured against a third party who has caused loss of or damage to the goods is of particular importance in marine cargo insurance. The amounts recovered in subrogation actions, known in practice simply as "recoveries",
Though research into osmosis continues, a good deal is now known about it. The factors that affect it include: i. The warmer the water, the more likely there is to be osmosis. This follows logically, since warm water is less dense than cold, and so it is more enthusiastic about seeping through the barrier. Incidentally,
Ένα από τα κυριότερα χαρακτηριστικά κάθε σύμβασης θαλάσσιας ασφάλισης, που διέπεται από το αγγλικό δίκαιο, είναι το δικαίωμα του ασφαλιστή να αποφύγει τις υποχρεώσεις του στην περίπτωση που ο ασφαλισμένος απέκρυψε ή παραποίησε ουσιώδη περιστατικά (non-disclosure και misrepresentation). Δεν είναι μάλιστα σπάνιες οι περιπτώσεις όπου οι ασφαλιστές επικαλούνται την απόκρυψη ενός περιστατικού που φαίνεται σχετικά
Εγκατάλειψη (Abandonment) Η εγκατάλειψη του πλοίου από τον ασφαλισμένο, προς τους ασφαλιστές χου γίνεται για να εγείρει αξίωση αποζημίωση για ολική απώλεια του πλοίου του. Την εγκατάλειψη του πλοίου τη δημιουργεί αποκλειστικά και μόνο ο ασφαλισμένος. Δε χρειάζεται καμιά ειδική εγγραφή, η άλλη ιδιαίτερη φόρμα, για να δώσει το Notice of Abandonment, Χρειάζεται μόνο, ο
MIA 1906 s 39 Commercial Court rejects attempt by an insurer to avoid a policy on the grounds of failure on the part of the insured to disclose material facts The Defendant Insurers alleged that the Claimant Insured was not entitled to claim under the policy due to (a) material non-disclosure and (b) a breach
An important Case Study At 21.00 on Wednesday 7 July 2010, while off Port Klang, Malaysia, the Master of the 8,000 TEU containership, M/V "CHARLOTTE MAERSK", reported a fire on the foredeck of the vessel. The vessel and her cargo were badly damaged by the fire which reached 1,000º C in some places. Around 150
Cargo ships navigating in Indian Ocean will have to pay higher premiums for war risk covers as marine insurers are expanding the exclusion zone for such policies because of widening pirate attacks in recent weeks. This could potentially raise shipping costs as the expansion would bring the entire ocean under the exclusion zone, and with
