Law of Marine Insurance Review

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(More customer reviews)Chapters 1-6 comprehensively trace and communicate the golden principles of insurance, although one would have expected more contribution by the author on a problem area i.e Insurable Interest. An area beclouded thus far. Chapters 3 and 16 thoroughly present duties attaching on the assured, failling which triggers misrepresentation per commissionem and that of a per ommisionem nature. The draconian nature of warranties is effectively unbuttoned, thus the author does give a glance to an incontemtible standards and failure by the insured to 'stick to what he\she warranted'.Bennett passionately, although at pain, the resulting repudiation of the policy by the insurer in case of breach of warranty. An insurer's absolute trump card!
Chapter 4 does no wonders to contribute to the insurance intermediary question, but from the insured's angle it creates a heaven, since it tackles the scope and content of his\her mandate or instructions given to the insurance broker.
On chapters 7;8;9;10;11;12 and 13, Bennett demonstrates a depth of scholarship in his commentary on the insurable risks. Note that the most commonly used clauses in marine insurance are those of the ICC (see Appendix ii of the work under review.The work adequately journey through maritime risks and insurance in respect thereof thus ensuring security for the interested parties. Chapters 14 and 15 essentially corroborates the unanimous opinion (academic, usage, and otherwise) regarding the moment when the consignment is covered, and termination thereof. Chapter 17 comprehensively coveres what is generally known as 'cession' and authors indepth learning and observance of case law, serves as proof that this book achieved its goal i.e to contribute immensely towards a student who ventures the field, at the same time seeking to revolutinize the marine insurance law as it stands.
Lastly chapters 18;19; and 20 are taken together since they all address the question of indemnity. Althogh ch.20 differs slightly since it addresses an insurer right to 'come into the shoes' of the assured, insurance is not an investment thus if some third parties are liable towards the insured, he\she must subrogate such rights arising therefrom to the insurer.
Having this review in mind (see also the Preface of Bennett's work) the work is of a high standard. The journey undertaken by the author strengthens international trade in a sense that as the scope of marine insurance is subjected to 'litmus test', those interested in a subject but above all those engaging in sale contracts are assured of their respective obligations. The work remains a reliable witness that certainty or even uniformity can be achieved.
Schorlarly engineered; develishly presented; and downwright a international, if not eternal, mouthpiece !

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The law of marine insurance constitutes a major branch of the law of international trade and shipping law which is of considerable international importance. This new edition gives a clear, updated account of English marine insurance law, combining detailed analysis of modern statute and case law with a clear comprehension of practice and commerce in the shipping world. The discussion embraces not only the constantly evolving case law, but also standard forms and clauses (including the 2003 International Hull Clauses), and the rules of mutual insurance associations. Coverage includes all relevant areas of general insurance contract law as well as all issues of specifically marine insurance law.The entire text of the second edition has been considered afresh and includes significant new or additional material in particular relating to: historical background, insurable interest, policy formation, the doctrine of utmost good faith, premiums, policy interpretation, excluded losses, third party rights, losses, claims, aversion and minimization of loss, insurers' contribution rights, and composite policies.Presenting a revised structure with the practitioner in mind, this new edition includes a new chapter on interpretation and rectification of insurance contracts.

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