Handbook to Marine Insurance, 8th Edition

Published Date

November 1975

Handbook to Marine Insurance, 8th Edition

(Excludes any applicable taxes)

This book’s basic procedural practicality makes it a relevant and useful guide to understanding the marine insurance market.

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This book offers a comprehensive overview of marine insurance, covering its origins, practical application and specific contexts such as marine salvage law. The book is written from the viewpoint of British Law and will aid underwriters and lawyers operating in the marine insurance market.

Chapter 1 A Summary of the History of Marine Insurance

Chapter 2 The Practice of Marine Insurance
The Marine Insurance Market

Chapter 3 The Practice of Marine Insurance
Considerations Affecting an Underwriter when Estimating Risks

Chapter 4 The Practice of Marine Insurance
Marine Insurance Policy Forms

Chapter 5 The Law of Marine Insurance
The Marine Insurance Acts, 1906–1909

Chapter 6 Reinsurance

Chapter 7 Mutual Insurance: Protection and Indemnity

Chapter 8 Collision Liabilities: The Running Down Clause

Chapter 9 Marine Insurance Claims

Chapter 10 General Average

Chapter 11 Marine Salvage

Appendix A The Marine Insurance Act, 1906
Appendix B The Marine Insurance Act, 1909
Appendix C The Maritime Conventions Act, 1911
Appendix D Rules of Practice of the Association of Average Adjusters
Appendix E York-Antwerp Rules, 1974
Appendix F Carriage of Goods by Sea Act, 1924, with commentary
Appendix G Statutory Provisions relating to Limitation of Shipowners’ Liability

Although but a relatively short time has passed since the publication of the previous edition of this handbook, it has been necessary to undertake a considerable measure of expansion and re-writing. In a changing world, nothing is static. This truism certainly applies to marine insurance, the law and practice of which – although the basic principles are immutable –undergo continuous modification. It would be reasonable to anticipate that the future has in store further major alterations in marine insurance routines, practices and legal forms.

Insurance, in all its forms, is ever seeking new fields for expansion. Notwithstanding the antiquity of marine insurance, in recent years it has witnessed some major developments and the future holds promise of even more significant changes. Instances of the first are not far to seek. The development of offshore oil-drilling operations has presented marine insurers with a substantial new source of premium income and with hazards in some respects different in character from those associated with the traditional forms of cover. Whereas, in other days, shipowners were content to secure insurance protection on the hulls of their vessels and freight at risk, in recent years there has been observed a considerable demand for protection against loss of hire.

In course of time, it is anticipated that nuclear power will mainly supersede conventional engines in ships, and it is in contemplation that the under surface sea carrier may largely replace the surface ship. These matters involve imponderables with which the underwriter of the future will be required to deal. In the meantime, new hazards have been introduced by the growing transport of radioactive elements and cargoes. Such developments require that the business of insurance shall be adapted not only to present needs but also to future requirements.

If this were not enough, there is the certainty that the introduction of electronics and their future development will exert a significant impact upon marine insurance practice and particularly on matters of routine, the modern tendency being as far as possible to replace the human element in such routines with the mechanical. The marine insurance market is but on the threshold of the changes that such developments make inevitable.

No textbook of this nature should be prepared except after study of the authorities who, throughout the centuries, have produced the bibliography of marine insurance. Recourse to the ancients and even to the writers of a century or more ago sufficiently evidences the extent of the changes which have taken place over the years in marine insurance law and practice. The serious author of today, in his study of the records, cannot fail to be struck by the fact that perhaps the past has been permitted to hold too firm a hand over the present. The contemporary marine insurance practitioner, to obtain a deep understanding of present practices, must delve deeply into the past. He will probably reach the conclusion that the law and practice of marine insurance have been allowed to become altogether too complicated. Tradition is something which commands respect, but which should not be so slavishly followed as to become a restrictive influence on development. This is particularly true of marine insurance jurisprudence.

It is commonly accepted that of all commercial activities, marine insurance is the most international. Yet the law and practices of the various markets, although they have influenced each other, have in many cases developed on divergent lines. To date, all attempts to secure international uniformity have encountered a somewhat negative response. This is perhaps the more remarkable in view of the widespread recognition of the fact that the advantages of such an international code as York-Antwerp Rules have been abundantly demonstrated. In other sections of maritime law, international conventions have also commanded widespread support. In these circumstances, it is within the bounds of possibility that the marine insurance markets of the world will ultimately reach a decision to discard all outworn methods and prescriptions and endeavour to secure the universal adoption of an international code, at least governing the essentials of the contract of marine insurance and its interpretation. It is surely indefensible that the marine insurance person of the present must absorb so much that is time worn and also apply their mind to distinguishing between so many divergent practices observed in the various markets. In marine insurance circles, there is a continuous call for enlightened leadership. Is it too much to hope that such leadership will be applied to the bringing of marine insurance law and practice out of the morass of anachronistic precedents and into a reasoned and logical system which shall have universal adoption? If and when such time should come, obviously this textbook would be outmoded.

This book has been written from the standpoint of British Law and Practice. However, in spite of what has been written above, it is hoped that it will prove a very ready help in time of trouble and difficulty to all those concerned with marine insurance, wheresoever they may be in practice, and whether as underwriter broker assured or lawyer.

In dealing with a subject as long established as is marine insurance, it would be futile for an author to claim absolute originality in his presentation. Necessarily, they must draw upon many sources for their information. These are to be found in the bibliography of the subject, in the annual reports of organisations representing insurers and shipping, in contacts with practical businesspeople engaged in a wide variety of occupations and in the dicta of many learned judges.

To all of these sources, in varying measure, the appreciation of the author must be recorded. They are too many and varied to be susceptible to individual mention, but where in the text matter has been derived from particular sources, specific acknowledgement has been made.

In general, the author acknowledges the helpfulness of correspondents from all over the world in making suggestions for the improvement of this edition over those which have gone before. It is a matter of special satisfaction that so many communications have been received from those who claim to have derived benefit from previous editions

of this work, which has been widely designated ‘the marine insurance practitioner’s “bible”’.

Victor Dover

The late Victor Dover devoted his life to the study of marine insurance. He was Secretary of the Insurance Institute of London for 20 years had three treatises published for the marine insurance market.

(Incorporating revisions by) Robert H. Brown)

The late Robert Henry Brown F.Inst. A.M. A.C.I.I enlisted with the United States Navy in 1952 before serving on a supply ship during the Korean War. He subsequently pursued a career in academia, writing and editing several publications on marine insurance.

Title: Handbook to Marine Insurance, 8th Edition
Number of Volumes: 1
Edition: Eighth
Number of Pages: 870
Product Code: 4405Q011
ISBN: ISBN 13: 978-0-900886-17-1 (9780900886171), ISBN 10: 0-900886-17-X (090088617X)
Published Date: November 1975
Binding Format: Hardback
Book Height: 220 mm
Book Width: 140 mm
Book Spine: 50 mm
Weight: 0.90 kg
Author: Victor Dover, Incorporating revisions by Robert H. Brown

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