Chapter 1 Cargo Insurable Interests
Introduction - Definition of insurable interest - Attachment of interest -Partial interest – Lost or not lost – Proprietary interest – Freight – Premium – Profit – Defeasible and contingent interests – Respondentia – Consignee’s interest – Liability interest – Underwriter’s insurable interest – Marine insurance contracts that are invalid in relation to insurable interest.
Chapter II London Marine Insurance Markets and Associations
Introduction to Lloyd’s Marine Insurance Market – Lloyd’s Underwriting Members – Lloyd’s Corporate Membership – Lloyd’s Underwriting agents and Syndication – Lloyd’s Council, Committee and Regulatory Boards - The Corporation of Lloyd’s – Security in a Lloyd’s Policy – Lloyd’s Underwriters’ Association – Lloyd’s Agents and the Intelligence Service – Lloyd’s Single Market –The London Marine Insurance Company Market – The Institute of London Underwriters – Insurance Brokers and Broker’s Associations.
Chapter III Facultative insurance – Placing the risk
Introduction – Facultative insurance – Brokers’ code of practice- The order – The slip – Means of conveyance – The voyage – The Sum insured – The value – The conditions – The rate - Deductions – Guide slips – The leader – Leading underwriters’ agreement – Overplacing – Spreading the risk – The covernote – Reducing the line – Electronic placing.
Chapter IV Faultative insurance – Signing and accounting
Introduction – Signing slips – Premium advice note – Policy preparation – Introduction to separation procedure – Separation procedure stage one – Seperation procedure stage two – Signing and accounting procedure – Urgent policy signing – Non-Institute Companies’ combined policies – Policy endorsement – Taking down an AP or RP – Computers and word processers.
Chapter V Open Cover Insurance
Introduction to open cover insurance – The floating policy and open cover – Brokers’ declarations – Valuations of declarations –Limit any one vessel – Locations limits – Cancellation clauses – Schedule of voyages and rates – Premiums – Classification clause – Overage AP’s – Declarations – Certificates – Renewal of a floating policy – Statistics – Rotation clause – The parity clause – Policies issued off open covers – Block policies – Open slips – Leading underwriter agreements – Profit commission.
Chapter VI Policies & Premiums
Development of the marine policy – The MAR policy (1982) – Combined policies – The Schedule in a MAR policy – Rules of interpretation – English jurisdiction – The SG policy form – The J and J(A) policy forms – Assignments of policies - Slip policies – Premiums – Returns premiums – Small AP/RP waiver scheme –Central accounting – Brokerage and discounts – Joint cargo committee.
Chapter VII Institute Cargo Clauses (Part One) Risks Covered and Excluded
Introduction – General procisions clause (Cargo) – English law & practice clause – Risks covered the ICC (1982) – Comparison with risks covered be the ICC (1963) WA and FPA – Notes on risks covered be the B and C clauses – Statutory exclusions in the ICC (1982).
Chapter VIII Institute Cargo Clauses (Part Two) – Duration to Cover
The SG policy – Warehouse to warehouse cover – the transit clause – Termination of contract of carriage – Change of voyage/destination – Errors and omissions – General information on the ICC (1963)
Chapter IX Institute Cargo Clauses (Part Three) – General
Introduction – Constructive total loss – General average – Seaworthiness of overseas vessel – Seaworthiness of craft – Fitness of overseas vessel to carry the goods – Fitness of craft etc. to carry the goods – Seaworthiness/fitness warranties and the ICC (1982) – Unseaworthiness and unfitness exclusion clause (1982) – Misconduct of shipowner and negligence – Carriers’ liability and benefit of insurance – Collision liability – Insurable interest –Minimising loss (sue & labour) – Forwarding charges – Other clauses in the ICC (1982) – Air cargo clauses.
Chapter X War Risks Insurance and Strikes etc. Risks
War perils – The FC & S clause – War & Civil war exclusion clause – War exclusion clause ICC (1982) – Piracy- Effect of outbreak of war – War risk rating – Institute was clauses for use with the SG form of policy – Institute war clauses for use with Mat form policy – War risks clauses (1982) exclusions – War risks clauses (1982) duration of cover – War risks clauses (1982) general – Additional expenses war risks – Postal sendings – Air sendings –Trade war clauses – Institute was clauses (commodity trades) – War risks on land – War risk cancellation – Strikes etc. exclusion clauses – Rating for stikes, etc. risks – institute strikes clauses (1963) – Institute strikes clauses (cargo) 1982 – Comparison between strikes risks covered (1963 and 1982) – Risks excluded – Strikes clauses (1963 & 1982) – Duration of cover strikes risks – Strikes clauses general – Strikes clauses – commodity trades – Strikes expenses cover – War and strikes risks on cargo stored afloat.
Chapter XI The Carrier and Other Bailees
The carrying vessel – Flag, Ownership and Management –Insolvency or financial default – Conference ships – Carriage of goods – Warehouse risk – Bonded warehouses – Rights against carrier – Unfair contracts – Bailee other that the carrier – Rail transit – Barge and/or canal transit – Road transit.
ChapterXII Cargo Handling and Sale Contracts
Packing – Packaging consultants – Theft and pilferage – Cargo handling – Loading and discharge – bulk cargoes – Sales contracts.
Chapter XIII Contracts of Carriage and Increased Value
Contract of carriage - Charterparties – Shipping documents – Mates receipt – Seaworthiness and fitness of ship – Seaworthiness and fitness of craft – Care before loading and after discharge – Care during carriage – Exemption from liability – Insufficiency of packing – Insufficiency or inadequacy of marks – Quantity and/or wejght – Dangerous Goods – Duties of consignee at destination – Insurable interest, increased value insurance and PPI policies.
Chapter XIV Unit Carriage and Insured Bill of Lading
Introduction – Pallets – Lift vans – Containers – Third party recoveries, etc. – Insured bills of lading.
Chapter XV Trade Clauses (Part One)
Introduction – Introductions to Institute trades clauses – Commodity trades clauses – Clauses available to supplement Commodity trades clauses - Coal trade - Coal war risks – Coal strikes risks – Jute trade – Jute war risks – Jute strikes risks - Flour trade – FOSFA clauses – Rubber trade – Rubber war risks- Rubber strikes risks Sugar trade – Timber Trade – Timber Trade Federation clauses – Timber Trade War & Strikes Risks – Oil trade – Bulk oil clauses – Bulk oil war & strikes risks – Corn trade.
Chapter XVI Trades clauses (Part Two)
Frozen products – Frozen food clauses – Frozen food extension clauses – Frozen food war risks – Frozen food strikes, etc. risks – Frozen meat “A” conditions – Frozen meat extension clauses – Frozen meat “C” conditions – Frozen meat war risks – Frozen meat strikes, etc. risks.
Chapter XVII Incidental Institute Clauses & a Selection of Other
Cargo Clauses
Introduction – Incidental Institute clauses – Non Institute cargo clauses – A selection of incidental cargo clauses.
Chapter XVII Cargo Claims (Part One) – Claims Procedure
Introduction – An efficient image – Considerations of a claim – Ex gratia payments – WP settlements – Procedure for claims notification and collection – Duties of consignee on discovery of loss – Office procedure of the claims broker – Acknowledge the claim – Letter files – The secondary register – Tracing the policy – Settling without a policy – Claim adjustment – The report book – Insurance policy and/or certificate – Refunds and recoveries – Brokers as claims settling agents – Payment of claims – Lloyd’s underwriters’ claims and recoveries office – Lloyd’s underwriters’ claims office – Lloyd’s recoveries department – The Institute of London underwriters - Claims payable abroad.
Chapter XIX Cargo Claims (Part Two) – Recoveries from Carriers and other
Bailees
Introduction – Subrogation – Carriers; legal liability – Carriage of goods by Sea Act, 1971 – Carriers’ limitation of liability – Carriage of Goods by Sea Act, 1992 – The Hamburg Rules – Air carriers’ liability – Road and rail carriers’ liability – The underwriter’s position in relation to carriers’ liability – Collision liability – General average recoveries.
Chapter XX Cargo Claims (Part Three) – Settling Agents – Surveys –
Claims Documentation
Settling agents – Application of survey – The survey – The fees and expenses – Company agents – The survey report – The salvage association – The average adjuster – Cargo surveyors, loss adjusters and recovery agents – Claims documentation – Valued policies – Rejection risk policies
Chapter XXI Cargo Claims (Part Four) – Policy Perils – Types of Loss –
Charges Attaching to Policy
Proximate cause – Policy perils – Institute commodity trades clauses (Modified exclusions) – Actual total loss – Constructive total loss – Salvage loss – Particular average – Particular charges – Extra charges – Sue & labour charges – Salvage charges – Natural (ordinary) loss – Loan agreement.
Chapter XXII Cargo Claims (Part Five) – General Average Claims –
Recoveries and Expenses
Introduction – General average sacrifice – General average expenditure – General average contribution – General average guarantee – Effect of underinsurance on general average contribution – General average deposits – York/Antwerp Rules – Port of refuge expenses.
Chapter XXIII Cargo Claims (Part Six) – Practical Adjustments
Introduction – Total loss – Shortage claims – Tare – Particular average loss – Deductible or excess – Franchise – Market fluctuations – Particular average adjustments.
Appendices:
A Marine Insurance Act, 1906
B Carriage of Goods by Sea Act, 1971
C Hamburg Rules, 1978
D Carriage of Goods by Sea Act, 1992
E York / Antwerp Rules, 1994
F Lloyd’s standard form of Salvage Agreement, 1995
Index
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