Charterers' Liability Insurance
This book is for time charterers, voyage charterers and cargo traders who move goods and commodities by sea under maritime contracts. It is a practical guide for ship operators, that brings together various aspects of marine insurance.
This book is written with three main objectives in mind. First, it should theoretically underpin the practical applications of a charter’s or cargo trader’s marine insurance. Second, it should assist the charterer in reviewing their own chartering risk exposure and help to evaluate the various insurance solutions available to cover or substantially mitigate that risk. Finally, it aims to inform the charterer of the best strategy in day to day management of their chartering risks, including the management of chartering related claims.
The publication is, above all, a practical guide for ship operators which brings together the various facets of marine insurance exclusively as it affects ship charterers, ranging in chartering activities from those who become fully immersed in the operation of chartered ships to those who may only book space in a ship, and in such a way that it should become an indispensable tool for chartering practitioners.
SECTION 1 Principles
SECTION 2 Charterers’ Insurance Market
Chapter 2 The International Market
Chapter 3 The London Market
Chapter 4 Protection and Indemnity Market
SECTION 3 Charterers’ Insurance Sectors
Chapter 6 Hull and Machinery Cover
Chapter 7 Protection and Indemnity Cover
Chapter 8 Marine Cargo Insurance
Chapter 9 Trade Disruption Insurance
SECTION 4 Charterers’ Insurance Issues
Chapter 11 Maritime Conventions and Regulations
Chapter 12 Ship Owners’ Liability (SOL)
Chapter 13 NYPE Inter-Club Agreement
Chapter 14 War Risks, Piracy and Terrorism
SECTION 5 Charterers’ Insurance Practice
Chapter 16 Charterers’ Legal Liabilities
Chapter 17 Chartering Contracts
Chapter 18 Dispute Resolution
Chapter 19 Charterers’ Bunkers
Chapter 20 Charterers’ Cargo Liability
Chapter 21 Charterers’ Underwriting
SECTION 6 Summary and Conclusion
SECTION 7 Appendices
- Duty of Care to the Insurer
- Endorsement to Extend Cover to War Risks
- Key Judgments
- On Deck Cargo
- Letter of Indemnity
Heinz Gohlish has worked in a variety of roles including Associate Director of a P&I Club, Executive Director of a Lloyd’s broker, and the Underwriting Manager for the Charterers’ P&I Club. He has contributed regular features to a range of academic publications and marine insurance briefing reports. He is a member of the Nautical Institute (MNI) and the International Association of Maritime Economists (IAME).
- Number of Pages:
- Published Date:
- November 2008
- Binding Format:
- Book Height:
- 250 mm
- Book Width:
- 170 mm
- 0.7 kg
(Posted on 03/08/2011) The need for charterers’ liability insurance has grown remarkably over the past 20 years, according to the author of this useful work of reference. As far as is known, this is the first book to bring together ‘the multi-faceted aspects of charterers’ liability’ into one handy volume. The holder of a post graduate degree in maritime economics – the author and his fellow contributors, all experts in this highly complex area, have produced a book which we are certain will emerge as required reading for all those with an interest in -- especially a financial interest in -- chartering activity -- which is now fraught with increasing financial risk. The author, Heinz Gohlish, identifies three factors which explain why this is so. The first – due to a balance of power shift from ship owners to charterers -- is that the element of risk is being passed more frequently from owner to charterer. Secondly, there has been an increase in recent years in the values, both of commodities and the vessels that transport them. The third factor is the increasingly stringent regulatory and legislative environment in which a charterer is likely to be called into account, say, in the event of a major casualty such as an environmental disaster. With the emphasis on ‘essential best practice’, as the subtitle indicates, the approach is reassuringly practical, and driven by an underlying awareness that the risk involved in charterers’ liability insurance is essentially legal in nature for the obvious reason that it is essentially contractual. This is a vast subject, so you are warned! Every case is different. For example, the point is made in Section five – Charterers Insurance Practice: Charterers’ Legal Liabilities – that ‘maritime and shipping law brings together more individual legal subjects than any other area (of law)....’ Wisely, the author counsels legal advice when a particular disputed situation arises. The book is therefore aimed at charterers, or their advisers who need to enhance their knowledge and understanding of the underlying risks and potential exposures that may affect them -- sometimes ruinously -- and the means by which such exposures can be managed. We would certainly recommend this book to not merely to charterers, but to practitioners, investors, marine industry operators, students, academics -- or indeed anyone who seeks an enriched understanding of the technically complex area of charterers’ liability insurance.
Featured in the September issue of the BALTIC (Posted on 01/11/2008): The Charterers P&I Club “Charterers Liability Insurance – Essential Best Practice is a practical guide written specifically for timecharterers, voyage charterers and cargo traders to acquaint them with the marine insurance market and how their liabilities might be properly protected.” So said Michael Grey MBE, celebrated commentator on maritime affairs, following the publication of the only book to be written on charterers’ insurance living memory. With the support of the Charterers P&I Club, Heinz Gohlish undertook to produce a comprehensive work which would bring together the many facets of chartering and liability insurance and at the same time provide basic details of how the marine insurance market works for charters. The authors who has spent 18 years of his varied career underwriting charterers’’ liability risks, said: “Many charterers possess a basic awareness of their liability exposure, but lack experience in this field and often have little background of the arcane practices of marine insurance. This book should prove invaluable to them. It should also be a useful reference and guide for students of maritime commerce and insurance.” The principal aim of Charterers Liability Insurance is to assist charterers in their management and mitigation of charterers’ liability risks. The ways means of how this can best be effected is particularly important during this period of uncertain trading conditions, both in chartering ships and in transporting commodities worldwide. While the book has been deliberately written in plain English, inevitably legal aspects concerning contracts and claims handling procedures form a large part of the text. Much of that is contained within the five Appendices. Advice in legal topics has been sought from recognised experts in their field and assistance in this respect was obtained from Julian Clark of Holman Fenwick Willan International aw well as the in-house claims team in The Charterers Club. Julian is one of the foremost maritime solicitors in London today and his summary and comments on a number of landmark legal decisions which affect charterers, as set out in the book, will be an invaluable reference. While the book is primarily aimed at chartering practitioners, it will also be a useful for commodity traders, shipping students and maritime lawyers.