Marine Insurance Volume 1 - Principles/Basic Practice, Sixth Edition

This sixth edition will appeal to all readers concerned with marine insurance. It provides comprehensive guidance on items such as Lloyd’s Marine Insurance, Lloyd’s Salvage Agreement and indemnity measures. Marine liability is also explored in extensive detail. Each chapter is underpinned by sound knowledge of the way in which this business is conducted.

Despite the large number of people actively engaged in the practice of marine insurance, very few of its practitioners have attempted to write a textbook on the subject. This may be because those that have been produced are of such excellent quality that no other work has been deemed necessary. In company with many of my contemporaries I studied these works in my student days, and I am grateful for the help I received from them. I feel that without this background I could never have undertaken this present task and I, therefore, wish to acknowledge an indebtedness to Harold Turner’s ‘Principles of Marine Insurance’, Victor Dover’s ‘Handbook’, Payne’s ‘Carriage of Goods by Sea’, the study courses of the Chartered Insurance Institute, and the handbooks published by the Institute of London Underwriters.

Very wisely, these earlier writers have concentrated on the well established principles of the subject, backed by case law, thereby establishing a basic foundation for the young practitioner. Nevertheless, such principles are little more than the established practice of the past, and it seems to me that it is time that many later developments are brought within the range of textbooks and that the standard practices of today should be recorded. I realise, of course, that this may lead to severe criticism if it is thought that I propose to introduce some form of rules of conduct, and I would like to make it clear that I intend only to place on record that which is commonly practised for the benefit of those who have been unable to acquire this knowledge by years of experience. It is true that experience is the best teacher but to gain experience takes time, and in this progressive age time is something we cannot afford to expend.

In my aim to introduce modern practice and I propose to write this work in two stages. The first of these gives the principles of the business, but necessarily embraces some fundamental practices which properly belong in this section. The second stage relates to the practice of Cargo Insurance, Hull Insurance, Freight Insurance and Marine Reinsurance.

I trust that this method of approach will enable the student to understand the subject more readily.

R. H. BROWN
London 1968

Chapter 1 Introduction and Commercial Need for Insurance

Chapter 2 London Insurance Markets and Associations

Chapter 3 Insurable Interest

Chapter 4 Good Faith and Warranties

Chapter 5 The Principle and Proximate Cause and Marine Insurance Perils

Chapter 6 Partial and Total Loss

Chapter 7 The Marine Insurance Policy

Chapter 8 Marine Policy Conditions

Chapter 9 Attachment and Termination of Cover

Chapter 10 Effecting a Marine Insurance Contract

Chapter 11 Premiums, Additional Premiums and Returnable Premiums

Chapter 12 Measure of Indemnity

Chapter 13 Sue and Labour, Salvage, Subrogation and Double Insurance

Chapter 14 Marine Liability Insurance and Negligence

Chapter 15 General Average Principles and The York/Antwerp Rules

Chapter 16 General Average Procedures, Documentation, Adjustments and Underwriters

List of Abbreviations
Appendix A The Marine Insurance Act, 1906
Appendix B The York-Antwerp Rules, 1994
Appendix C The Marine Insurance (Gambling Policies) Act, 1909

Robert H. Brown
The late Robert Henry Brown F.Inst. A.M. A.C.I.I enlisted with the United States Navy in 1952 before serving on a supply ship during the Korean War. He subsequently pursued a career in academia, writing and editing several publications on marine insurance.