The Modern Law of Marine Insurance Review

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(More customer reviews)`MARINE INSURANCE HAS, SINCE THE EIGHTEENTH CENTURY, BEEN THE ENGINE WHICH HAS DRIVEN THE REST OF THE ENGLISH LAW OF INSURANCE': Andrew Longmore LJ
An appreciation by Phillip Taylor MBE and Elizabeth Taylor of Richmond Green Chambers
Well! With a headline such as the above, which we quote directly from the Longmore LJ's brief foreword to this remarkable book, you scarcely need a headline from us. `The Modern Law of Marine Insurance' is, as he notes in his conclusion, `a book for those practising in all forms of insurance however far removed they are from marine insurance itself'.
That's not withstanding Professor Malcolm A. Clarke's comment that 'a traditional line is drawn between marine insurance (MAT) and non-marine insurance, with reinsurance as a category closely associated in the common law mind with the former.'
An important and valuable perspective for practitioners in insurance law that `the traditional line between marine and non-marine insurance is, we would say, artificial and fluid as the two disciplines, far from being separate, are inextricably linked.
In essence, the book provides an objective and thoroughly contemporary analysis of marine insurance law, together with a comparative analysis, which is certainly enlightening, of the law and practice in Europe, Australia and the USA. It's a
compilation of the work of a team of world-leading academics from top universities, as well as specialist practitioners in this field. Talk about a treasure trove between two covers, of marine law expertise!
Particularly interesting is the chapter by the editor, Professor Rhidian Thomas on `The Concept and Measure of Indemnity in Marine Policies'. As he notes in the Preface, `No principle is more fundamental and pervasive in marine insurance than the principle of indemnity'.
Other topics that undergo intensive scrutiny include: valued policies...insurable interest...warranties, fraud...and the lamentably contemporary perils of piracy and terrorism, to cite only a few examples. New developments of particular note are the new Institute Cargo Clauses 2009 and the associated new War and Strikes Clauses which came into force on 1 January 2009.
This, the third volume in the Modern Law of Marine Insurance series, also contains a wealth of useful research tools, (as you'd expect) namely extensive tables of cases and legislation, a detailed index and ninety pages of appendices, thirteen in all, including everything from the Marine Insurance Act 1906 to the Norwegian Marine Insurance Plan of 1996, 2007 version.
So, if you're in any way professionally involved in the world of insurance in general, the need to know about marine insurance must be the foundation of your knowledge base, so do rush out and add this invaluable and readable work of reference to your library- it's still the engine that drives the rest of the English law of insurance.


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