The Principle of Indemnity in Marine Insurance Contracts A Comparati
Marine Insurance is considered one of the oldest of the many forms of commercial protection. It has flourished through the establishment of the institution of the ''coffee-houses'', wherein ''underwriting" was being conducted and from where the evolution
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Kyriaki Noussia
The Principle of Indemnity in Marine Insurance Contracts A Comparative Approach
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Dr. Kyriaki Noussia University of Birmingham School of Law Edgbaston, Birmingham B15 2TT United Kingdom [email protected]
Library of Congress Control Number: 2006938304
ISBN 978-3-540-49073-9 Springer BerHn Heidelberg New York This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9,1965, in its current version, and permission for use must always be obtained from Springer. Violations are liable to prosecution under the German Copyright Law. Springer is part of Springer Science+Business Media springer.com © Springer-Verlag Berlin Heidelberg 2007 The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Production: LE-TgX Jelonek, Schmidt & Vockler GbR, Leipzig Cover-design: Erich Kirchner, Heidelberg SPIN 11926276
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Preface
Marine Insurance is considered one of the oldest of the many forms of commercial protection. It has flourished through the establishment of the institution of the ''coffee-houses'', wherein ''underwriting" was being conducted and from where the evolution and dominance of the Lloyd's has stemmed as the world's most famous insurance market. Marine insurance contracts are special in that they have special characteristics and also because they are contracts of indemnity. This book examines the principle of indemnity within marine insurance contracts. The legal problems related to the principle, in theory and in practice, are discussed and evaluated through the citation and critical analysis of the relevant case law in England as well in some of the most representative common law and continental law jurisdictions, together with an analysis comprising thoughts and proposals on possible extensions, further research options, and a possible fiiture law reform. The book comprises of six (6) chapters: chapter one (1) discusses the history of marine insurance in England and the policy reasoning behind the enactment of the various English statutes as well as the history, legal framework and the way marine insurance is regulated in the other jurisdictions. Chapter two (2) discusses the concept and importance of insurable interest in relation to indemnity marine insurance contracts and the coverage offered under such contracts both in England and in the other legal systems. Chapter three (3) discusses types of losses in England and the rest of the law regi
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