Overview
This second edition is a complete rewrite of the first edition and encompasses a much wider range of subjects. It examines and analyses Hull insurance risks and leading Hull Clauses issued by the Institute of London Underwriters.
Content
Chapter I
Introduction to Merchant Ships
Introduction—Basic ship construction and operation
—Types of ship—Loadlines, freeboard and draught—
Tonnage, classification and registration—Seaworthiness
and trimming—Supplementary notes on ship construction
and operation.
Chapter II Insurable Interest in Hull Practice
Introduction—Principle of hull insurable interest—
Shipowner’s and manager’s interest in the ship—
Mortgagee’s interest in the ship—Charterer’s interest in the
ship—Freight and similar interests—Ship operator’s interest
in expenditure—Ship operator’s ancillary interests—Ship
operator’s liability interests—Ship operator’s interest
in excess liabilities—Ship repairer’s liability interest—
Underwriter’s insurable interest.
Chapter III Effecting the Hull Insurance Contract
Introduction—Insurance markets—London market
associations and services—The broker’s role in the hull
insurance market—The broker’s order—Understanding
the risk—The London market broker’s placing slip—
Placing detail—Placing the risk—Brokers’ covernotes
—Agreements and amendments after placing—Held
covered agreements—Effecting renewals—London market
joint hull understandings.
Chapter IV Premiums, Premium Settlement and Return
Premiums
Introduction—Hull and machinery premium rating—
Premium rating for short term H & M policies—Premium
adjustments due to variations in insured value—Renewal
premium rating—Brokerage and discounts—Deferred
account—Premium collection and payment—Additional
premiums—London market terms of trade—London market
premium advices—London market centralised accounting
and settlement—Returnable premiums and the MIA, 1906—
Return premiums and London market understandings—
Returns allowed for policy cancellation—Returns allowed
for lying up.
Chapter V Hull Policies and Marine Policy Construction
Introduction—The policy as a legal contract—Lloyd’s
SG policy and insurance company equivalents—The MAR policy used in hull practice—Structure of a marine
insurance policy—Gambling policies and PPI policies—
Jurisdiction clauses—English law & practice clause—
Valued and unvalued policies—Policy assignment—London
market policy preparation & signing—Duplicate and copy
policies—London market renewal policies used in hull
practice—Attaching standard hull clauses to policies—Slip
policies.
Chapter VI Franchises and Deductibles
Introduction—The franchise in H & M policies—Customary
groundings clause—The franchise in freight policies—
Deductibles in Institute hull clauses—Subrogation and
deductibles—The franchise in freight policies—Deductibles
in Institute hull clauses—Subrogation and deductibles—
Machinery damage additional deductible—Annual aggregate
deductibles—Deductibles and franchises in foreign hull
conditions.
Chapter VII Cover for Loss of or Damage to Ship
Introduction—Cover for damage to ship—Cover for total
loss—Actual total loss—Constructive total loss—Multiple
valuation and constructive total loss—Procedure for
claiming a constructive total loss—The waiver clause and
constructive total loss—Compromised and/or arranged total
loss—Hull & Machinery limited terms cover—Reinsurance
of H & M cover.
Chapter VIII Marine Perils and the SG Form of Policy
Introduction—Principle of proximate cause applied to a hull
policy—Marine perils in the SG form of policy—Negligence
& additional perils (Inchmaree) clause—Liner negligence
clause—Pollution hazard clause (1973)—Marine perils in
the American Hull Form—Deliberate damage (pollution
hazard) clause (AHF).
Chapter IX Marine Perils and the MAR Form of Policy
Introduction—The perils clause in the Institute time clauses,
hulls (1983)—Institute additional perils clauses—Institute
additional perils clauses (ITC 1983)—Institute additional
perils clauses (AHF)—Pollution hazard clause (ITC 1983)—
Marine perils in other Institute (Hull etc.) clauses.
Chapter X Perils Excluded from a Marine Policy
Introduction—Statutory exclusions (MIA, 1906)— F. C. &
S. clause and the SG form of policy—Paramount exclusion
clauses (ITC 1970)—Paramount exclusion clauses (ITC
1983)—Paramount exclusion clauses (AHF 1977)—
Concluding comment on exclusion clauses.
Chapter XI Minimising Loss — Sue & Labour
Introduction—Sue & labour clause in the SG form of
policy—Sue & labour clause in the AHF—Duty of
assured clause (ITC 1983, etc.)—Deductibles in relation
to sue & labour charges—Sue & labour charges and
total loss—Effect of underinsurance on claims for sue
& labour charges—Sue & labour charges and excess
liabilities.
Chapter XII General Average and Salvage
Introduction to general average—Determining a general
average loss—Examples of general average sacrifice
—Examples of general average expenditure—Carrier’s
responsibilities in general average—Marine insurer’s
liabiliy for G. A. sacrifice—Treatment of “new for
old” in G. A. sacrifice—Marine hull insurer’s liability
for G. A. expenditure—Marine insurer’s liability for
(G. A.) freight—General average contributory values
and adjustments—Marine hull insurer’s liability for
G. A. contributions—Further matters concerning general
average—Introduction to maritime salvage—Marine hull
insurer’s liability for salvage charges—Services in the
nature of salvage.
Chapter XIII Marine Insurance Warranties & Navigation
Introduction—Nature of a marine insurance warranty
—Breach of warranty (MIA, 1906)—Warranty of
legality—Warranties regarding unseaworthiness of
ship—Warranties concerning towage and salvage
services—Breach of warranty clauses—Disbursements
warranty—Non-payment of premium warranties and
conditions—Locality (navigation) warranties—Institute
warranties—A. G. W. I. and intercoastal limits—
Classification warranties—Transfer of cargo at sea—
Break-up voyages.
Chapter XIV Duration of Cover in Hull Voyage Policies and
Other Matters Concerning Hull Voyage Policies
Introduction—Structure of policy form in relation to
voyage covered—Lost or not lost clause—Commencement
of cover—Delay in sailing—Sailing on a different
voyage—Change of voyage—Delay in prosecuting the
voyage—Deviation from route of voyage—Excuses for
deviation and delay in prosecuting the voyage—Deviation
held covered by policy—Termination of cover in a voyage
policy—The SG policy and hull voyage clauses on limited
terms—The MAR form of policy and hull voyage clauses
on limited terms—Supplementary matters concerning
voyage policies.
Chapter XV Duration of Cover in Hull Time Policies
Introduction—Agreed attachment and termination of
cover—Renewal of Hull Time Policies—Continuation
clause in Hull Time Policies—Sale of the insured ship
or change of ownership—Assignment of interest—The
Master of the insured ship—Management of insured ship
—Change of flag—Chartering and its effect on a Hull Time
Policy—Requisition of insured ship—Change of insured
ship’s classification—Supplementary matters concerning
termination of cover.
Chapter XVI Shipowner’s Liability Insurance
Introduction to the law of liability—Contractual
liability—Third party liability—Liability under Statutory
Powers—Liability insurance and the MIA, 1906—
Introduction to collision liability—Collision liability :
degree of fault—Development of the running down clause
—Supplementary nature of RDC—Application of three
fourths limit in the RDC (ITC/IVC, 1983)—Scope of
cover in the RDC (ITC/IVC, 1983)—Exclusions expressed
in the RDC (ITC/IVC, 1983)—Treatment of costs in the
RDC (ITC/IVC, 1983)—The RDC in foreign hull policy
conditions—Underinsurance and the RDC (ITC/IVC
1983)—Supplementary matters concerning collision
liability—Development of P & I Clubs—Structure and
operation of P & I Clubs—Scope of cover offered by
P & I Clubs—Institute P & I Clauses—Pollution liability—
Carrier’s liability to cargo—International limitation of
liability—Effect of underinsurance on claims for liability,
etc.—Insurance of excess liabilities.
Chapter XVII Hull & Machinery — Limited Terms Insurance
Introduction—Total Loss Only (TLO) insurance—Institute
H & M TLO conditions—Total loss etc. insurances—
Institute total loss etc. conditions (time)—Institute total loss
etc. conditions (voyage).
Chapter XVIII Hull Interest Insurances
Introduction—Hull “increased value” insurances—The
insurance of disbursements—Disbursements warranty
—Permitted additional insurances—Institute disbursements
and I/V clauses—Average disbursements—American hull
interest policies.
Chapter XIX Insurance of Hull War and Strikes Risks
Introduction—War risks protection clubs—British
government war risks protection—The F. C. & S. clause and
the “Coxwold” amendment—Paramount exclusion clauses,
1970—Frustration of voyage or adventure—Malicious acts
exclusion, 1970—Nuclear exclusion, 1970—Paramount
exclusion clauses, 1983—War exclusion, 1983—Strikes
exclusion, 1983—Malicious acts exclusion, 1983—Nuclear
exclusion, 1983—War, atomic and nuclear exclusion clause,
hull reinsurance—Mutual war risks insurance—Institute
war & strikes conditions, hulls time, 1970—Institute war
& strikes conditions, hulls voyage, 1970—Institute war
& strikes conditions, hulls time, 1983—Institute war &
strikes conditions, hulls time (limited), 1983—Institute war
& strikes conditions, hulls voyage, 1983—Cancellation
of cover and automatic termination—Premium rating for
hull war & strikes cover—War risks trading warranties—
Blocking and trapping insurance—American Institute hull
war & strikes clauses.
Chapter XX Hull & Machinery — Port Risks and Builders’
Risks
Introduction to port risks insurance—The SG policy and
port risks conditions—Port war & strikes risks (SG policy)—
The MAR policy and port risks conditions—Comparison
between ITC (CL. 280) and IPRC (CL. 311)—Comparison
between IPRC (CL. 311) and IPRC (CL. 312)—Port war &
strikes risks (MAR policy) —Introduction to builders’ risks
insurance—The SG policy and builders’ risks conditions—
Builders’ risks war & strikes (SG policy)—Institute
builders’ risks clauses (CL. 351)—Institute faulty design
and P & I clause (CL. 352)—Institute builders’ risks war
clauses (CL. 349)—Institute builders’ risks strikes clauses
(CL. 350)
Chapter XXI Freight at Risk Insurance
Introduction to freight at risk insurance—The SG policy and
freight at risk conditions—The SG policy and freight war &
strikes—The MAR policy and freight at risk conditions—
Institute freight time clauses (CL. 287)—Institute freight
voyage clauses (CL. 288)—Institute freight war & strikes
clauses, time (CL. 296)—Institute freight war & strikes
clauses, voyage (CL. 297)—Freight waiver clause.
Chapter XXII Analysis of American Hull Clauses and Clauses
Related Thereto
Introduction—American hull form (CL. A1B)—Additional
perils clause (CL. 301)—Machinery damage additional
deductible clause (CL. 304)—Additional deductible
adaptation clause (CL. 307)—Increased value & excess
liabilities clauses (CL. A175 & CL. A209)—War & strikes
clauses (CL. A237)—Trade warranties (CL. A210).
Chapter XXIII Analysis of Institute Hull Clauses
Introduction—Mortgagees’ interest clauses (CL. 337)
—Bridging clause, hulls (CL. 302)—Additional perils
clause (CL. 294)—Standard dutch hull form (CL. 308)
—Additional perils clause (CL. 310)—Machinery damage
additional deductible clause (CL. 309)—Additional
deductible adaptation clause (CL. 306)—Institute fishing
vessel clauses (CL. 346)—Additional perils clause
(CL. 347).
Chapter XXIV Yacht Insurance
Introduction—Institute yacht clauses (CL. 328)—
Machinery damage extension clause (CL. 332)—Personal
effects clauses (CL. 331)—Racing risk extension clause
(CL. 330)—Speedboat clauses (CL. 333)—Yacht transit
clause (CL. 122)—Yacht war & strikes clauses (CL. 329)—
American yacht clauses (CL. A231).
Chapter XXV Hull Claims (Part One)
Underlying Principles and Practice
Introduction—Principle of good faith—Compliance with
warranties—Proximate cause and insured perils—Principle
of successive losses—Measure of indemnity and total
loss—Measure of indemnity for damage to ship—Measure
of indemnity for particular charges—Measure of indemnity
for salvage charges—Measure of indemnity for general
average contributions—Subrogation rights of insurer—
Rights in contribution—Ex gratia and “without prejudice”
settlements.
Chapter XXVI Hull Claims (Part Two)
Personnel and Procedures
Introduction—Role of the Salvage Association—Role
of a Lloyd’s agent—Broker’s role in claim collection—
Roles of the average adjusters, solicitors, etc.—Notice of
accidents—Deciding the port for docking following an
accident—Duty of assured to prove loss—Surveys and
survey fees—Salvage Association structural condition
surveys—Procedure for claiming a constructive total
loss—Claim documentation.
Chapter XXVII Hull Claims (Part Three)
General Matters Concerning Hull Claims
Introduction—Taking tenders for repairs—Compensation for
loss of time awaiting tenders—Penalty for non-compliance
with tender clause—Choosing the repair firm—Costs of
removal for repairs—Costs of wages & maintenance of
master, officers and crew—Costs of proving a claim—
Temporary repairs—Overtime costs—Tank cleaning and
gas freeing—New for old deductions—Deferred repairs,
unrepaired damage and depreciation—Definitions of
stranding and grounding—Customary groundings (suez
canal) clause—The ship’s “bottom”—Costs of sighting
ship’s bottom—Bottom fouling prevention and care—Costs
of scraping and painting ship’s bottom—Treatment of costs
for repairing ship’s bottom.
Chapter XXVIII Hull Claims (Part Four)
Basic Claim Calculations (Repair Costs, etc.) .
Introduction—Application of H & M policy deductibles
—Deductibles in connection with recoveries—Treatment
of interest on recoveries—Machinery damage additional
deductible—Annual aggregate deductibles—Claims for
damage repairs and dry dock costs—Recoveries from
others—Freight at risk claims.
Chapter XXIX Hull Claims (Part Five)
Basic Claim Calculations (Liabilities)
Introduction—General average and salvage contributions
—Sue & labour charges—Collision liabilities—Excess
liabilities.
Appendix A Marine Insurance Act, 1906 1029
Appendix B York-Antwerp Rules, 1974 1065
Appendix C Rules of Practice, 1986 (amended 1992) 1075
Appendix D Carriage of Goods by Sea Act, 1971 1107
Appendix E Hamburg Rules, 1978 1121
Appendix F Carriage of Goods by Sea Act, 1992 1147
Index 1153
Details
Title: Marine Insurance Volume 3: Hull Practice, 2nd Edition
Number of Pages: 1187
Product Code: 4405Q103
ISBN: ISBN 10: 0-948691-45-X (094869145X)
Published Date: July 1993
Weight: 1.60 kg