Insurance law Books

Book SynopsisChinese Insurance Contracts: Law and Practice is the first systematic text written in English on the law of insurance in China. This book offers a critical analysis of the major principles, doctrines and concepts of insurance contract law in China. Table of ContentsChapter 1. Introduction to Insurance and China’s Insurance industry Chapter 2. Chinese Legal System and the Insurance Law Chapter 3. The Regulation of Insurance Chapter 4. Formation of an Insurance Contract Chapter 5. Terms of Insurance Contracts and Construction Chapter 6. Premiums Chapter 7. Insurable Interest Chapter 8. The Insured’s Duty of Disclosure and Representations Chapter 9. The Insurer’s Pre-contractual Duty of Good Faith Chapter 10. Increase of Risk during the Insurance Period Chapter 11. Double Insurance and Contribution Chapter 12. Causation Chapter 13. Risk Prevention and Loss Mitigation Chapter 14. The Making of a Claim Chapter 15. Settlement of Claims Chapter 16. Fraudulent Claims Chapter 17. Subrogation Chapter 18. Modification and Rescission of Insurance Contracts Chapter 19. Property Insurance Chapter 20. Life and Accident Insurance Chapter 21. Liability Insurance Chapter 22. Motor Vehicle Insurance Chapter 23. Reinsurance Chapter 24. Marine Insurance

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Book SynopsisFranz Kafka: The Office Writings brings together, for the first time in English, Kafka's most interesting professional writings, composed during his years as a high-ranking lawyer with the largest Workmen's Accident Insurance Institute in the Czech Lands of the Austro-Hungarian Empire. Franz Kafka (1883-1924) is commonly recognized as the greatestTrade ReviewHonorable Mention for the 2008 PROSE Award in Literature, Language, and Linguistics, Association of American Publishers One of Choice's Outstanding Academic Titles for 2009 "The Office Writings, however, convincingly suggests that his job was also integral to his writing, and that his literary production was not an escape from the alienation of daily life to that 'dreamlike inner life' but a striving to reconcile the two."--Alexander Provan, The Nation "Kafka himself complained constantly that his day job at the Prague Workmen's Accident Insurance Institute oppressed his artistic calling; this volume's editors beg to differ. In the hands of Kafka scholars Stanley Corngold and Benno Wagner and the legal scholar Jack Greenberg, the 18 briefs collected here comprise more than a record of the author's years in the insurance business. By reading between his legal writings and his fiction, the editors argue that Kafka's dual identities are inextricable: the writer is informed by the lawyer, the lawyer by the writer. Franz Kafka is the Franz Kafka we know not in spite of his day job, but rather because of it."--Rachel Sugar, The National (Abu Dhabi) "[T]he texts have impressive sociological merit: They provide a compelling picture of what life was like for an early twentieth-century bureaucrat who took his work seriously, believed in it, and did it well... But ultimately, the value of The Office Writings lies less in the potential connections to Kafka's fiction than in the fundamental disconnect."--Ben Kafka, Bookforum "Cognizant that some readers might be put off by the legal writing style, Corngold (German & comparative literature, Princeton Univ.), Jack Greenberg (law, Columbia Univ.), and Benno Wagner (literature, media, & culture, Univ. of Siegen, Germany) provide ample and rich analyses that demonstrate the close link between Kafka's profession and his literary creativity and oeuvre. This scholarly book is indispensable to an understanding of Kafka. Highly recommended."--Ali Houissa, Library Journal (Starred Review) "This event--finally, the translation and publication of the last known scrap of Kafka's work left untranslated, and unpublished--brings us to the subject of this series: how Kafka's office writings influenced his fiction, and what that influence means. Kafka's office writings, as presented here, cannot be read on their own ... but, instead, must be read as companions, to demystify the three novels and stories (which are anything but boring). Taken together, though, both workaday fact and masterwork fiction create a network of connections that exposes not just the concerns of a single writer, but also that of a singular culture--the culture of the Office, which has imposed itself on what used to be our lives."--Joshua Cohen, Nextbook.org "This handsome volume fills a void in Kafka studies and rectifies the unbalanced image of Kafka as a tortured genius who labored in an insurance office by day and wrote fiction by night... A fascinating read for scholars of Kafka and modern Central European literature."--M. McCulloh, Choice "The editors--Stanley Corngold, Jack Greenberg and Benno Wagner--have done a masterful job in making the drafts of speeches, letters, internal reports and newspaper articles relevant."--Raymond Johnston, Czech Business Weekly "These writings reveal Kafka the man at his best. For that reason, Franz Kafka: The Office Writings makes a significant contribution to understanding the enigmatic Franz Kafka."--Jefferson M. Gray, Federal LawyerTable of ContentsPreface ix Abbreviations for Kafka Citations xix Kafka and the Ministry of Writing by Stanley Corngold 1 Kafka's Offi ce Writings: Historical Background and Institutional Setting by Benno Wagner 19 DOCUMENTS Chapter 1: Speech on the Occasion of the Inauguration of the Institute's New Director (1909) 51 Commentary Chapter 2: The Scope of Compulsory Insurance for the Building Trades (1908) 54 Commentary Chapter 3: Fixed- Rate Insurance Premiums for Small Farms Using Machinery (1909) 74 Commentary Chapter 4: Inclusion of Private Automobile "Firms" in the Compulsory Insurance Program (1909) 80 Commentary Chapter 5: Appeal against Risk Classifi cation of Christian Geipel & Sohn, Mechanical Weaving Mill in Asch (1910) 90 Commentary Chapter 6: Mea sures for Preventing Accidents from Wood- Planing Machines (1910) 109 Commentary Chapter 7: On the Examination of Firms by Trade Inspectors (1911) 120 Commentary Chapter 8: Workmen's Insurance and Employers: Two Articles in the Tetschen- Bodenbacher Zeitung (1911) 145 Commentary Chapter 9: Petition of the Toy Producers' Association in Katharinaberg, Erzgebirge (1912) 170 Commentary Chapter 10: Risk Classifi cation Appeal by Norbert Hochsieder, Boarding House Own er in Marienbad (1912) 194 Commentary Chapter 11: Letters to the Workmen's Accident Insurance Institute in Prague (1912-15) 213 Commentary Chapter 12: Criminal Charge against Josef Renelt for the Illegal Withholding of Insurance Fees (1913) 225 Commentary Chapter 13: Second International Congress on Accident Prevention and First Aid in Vienna (1913) 249 Commentary Chapter 14: Accident Prevention in Quarries (1914) 273 Commentary Chapter 15: Jubilee Report: Twenty- Five Years of the Workmen's Accident Insurance Institute (1914) 301 Commentary Chapter 16: Risk Classifi cation and Accident Prevention in War time (1915) 322 Commentary Chapter 17: A Public Psychiatric Hospital for German- Bohemia (1916) 336 Commentary Chapter 18: "Help Disabled Veterans! An Urgent Appeal to the Public" (1916/1917) 346 Commentary Wraparound:From Kafka to Kafkaesque 355by Jack Greenberg Chronology 373 Notes 379 About the Editors 393 Index 395

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Book SynopsisThis fifth volume in the series comprises ten contributions written by an expert team of academics and practitioners. Collectively they analyse and expound many of the contemporary legal issues and debates in the law and practice of marine insurance. The new volume is not to be considered as a new edition superseding the earlier volumes. To the contrary, it extends on the previous coverage and contributes to the expanding coverage of the series. It achieves this by introducing new topics for analysis and by noting significant developments in themes considered in earlier volumes, thereby providing a useful tool for keeping abreast of an ever developing body of judicial law. This volume tackles topics such as the impact of the Insurance Act 2015 on remedies and the pre-contractual duty of insurers, as well as a contribution from Professor Wilhelmsen on the state ship arrest as a peril under the Nordic Marine Insurance Plan and London terms. It explores the impact of Brexit on jTable of ContentsTable of Cases, Table of Legislation, Authors' Biographies, Foreword, Preface, Chapter 1 Maritime Class Actions, Litigation Funding, and the Role of After-the-Event (ATE) Insurance, Chapter 2 Insuring Remote-Controlled and Autonomous Shipping: A Paradigm Shift in Law and Insurance Markets Required?, Chapter 3 Direct and Third-Party Claims against P&I Clubs, Chapter 4 Neither Fish nor Flesh nor Good Red Herring: A Comparative Study of the Law Relating to Marine Insurance Brokers, Chapter 5 The Development of the Law of Remedies for an Unfair Presentation of the Risk, Chapter 6 Insurers and the Law of Fraud: A Success Story and the Case for Regulatory Intervention, Chapter 7 Implied Marine Warranties and the Insurance Act 2015, Chapter 8 The Proximate Causes of Loss, Chapter 9 Marine Insurance Cover for Detainment of Vessels by a Foreign State: The Team Tango Case, Chapter 10 Jurisdictional Rules and Anti-Suit Injunctions Post-Brexit: Uncertainties and Opportunities, Appendices, Insurance Act 2015, Marine Insurance Act 1906, Third Parties (Rights against Insurers) Act 2010, Index

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Book SynopsisThe insurance industry has found itself at the front line of climate change challenges, providing insurance cover in relation to risks associated with climate change. As risk carriers, insurers pay claims for climate change related losses â such as property damage caused by windstorms, flooding, and wildfires â which have been increasing in frequency and severity.As major institutional investors, insurance companies invest in assets that may be increasingly vulnerable to climate risks. Insurance regulators across the globe have therefore started to require insurance companies to identify, manage, and report on climate change risks that could pose a threat to their financial stability. However, managing and reporting on the effect of climate risk on an insurerâs balance sheet is an inward-looking perspective that does not stem climate change. It needs to be paired with an outward-looking perspective that takes account of the insurance industryâs impact on the environment and t

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Book SynopsisTrade Review‘Richard Liskov has performed a valuable service in condensing and simplifying insurance regulation for those who have little familiarity with the subject. His book is essential reading for any lawyer with a client who is in the U.S. insurance marketplace or wants to be, any law student with an interest in how financial services are regulated in the U.S., and any insurance professional whose company is, or someday may be, under U.S. regulation.’ -- James Corcoran, Former Superintendent of Insurance for the State of New York, US‘This book provides a comprehensive overview of insurance regulation in the US. It should be required reading for all US insurance regulatory attorneys (and US insurance regulators as well). Equally important, it will prove to be a valuable resource for EU and UK attorneys who have insurance clients doing business, or who want to do business, in the US.’ -- Frederic M. Garsson, Saul Ewing LLP, US‘Insurance touches each of us in our daily lives. Having served as New York’s Attorney General for fifteen years, I know that Richard Liskov’s book is a valuable guide for lawyers, law students and those engaged in the insurance business in the United States – or indeed anyone interested in how insurance is regulated. It should be on everyone’s bookshelf.’ -- Robert Abrams, Former Attorney General of New York, USTable of ContentsContents: 1 An overview of U.S. insurance regulation and some key definitions 2 The respective roles of state and federal governments in U.S. insurance regulation 3 How state insurance departments are organized and operate 4 How states define what “insurance” is and who is an insurer, and how states license insurance companies and insurance professionals 5 How states monitor the financial condition of licensed insurance companies 6 How U.S. state insurance regulators deal with financially troubled insurance companies 7 How state insurance regulators supervise the market conduct of insurance companies and insurance professionals 8 How the U.S. federal government and state insurance regulators supervise health insurance 9 U.S. insurance regulation heading into the global technological future Index

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Book SynopsisThe future of the insurance regulation begins now For those involved with the insurance industry, from investment professionals to policy makers, and regulators to legislators, tremendous change is coming. With insurance premiums constituting an ever-growing portion of annual U.S.Table of ContentsPreface Acknowledgments Chapter 2: Life Insurance’s Importance to American Families and Industry’s Concern about Regulation (Dirk Kempthorne) Chapter 3: Why Insurance Needs a Federal Regulator Option (Roger W. Ferguson, Jr.) Chapter 4: Observations on Insurance Regulation – Uniformity, Efficiency, and Financial Stability (Therese M. Vaughan) Chapter 5: Lessons Learned from AIG for Modernizing Insurance Regulation (Eric R. Dinallo) Chapter 6: Assessing the Vulnerability of the U.S. Life Insurance Industry (Anna Paulson, Thanases Plestis, Richard Rosen, Robert McMenamin and Zain Mohey-Dean) Appendix 6A: Details on Estimating Asset Risk Chapter 7: Systemic Risk and Regulation of the U.S. Insurance Industry (J. David Cummins and Mary A. Weiss) Chapter 8: Designation and Supervision of Insurance SIFIs (Scott E. Harrington and Alan B. Miller) Chapter 9: Is the Insurance Industry Systemically Risky? (Viral V Acharya and Matthew Richardson1) Chapter 10: Modernizing the Safety Net for Insurance Companies (John H. Biggs) Chapter 11: Policyholder Protection in the Wake of the Financial Crisis (Peter G. Gallanis) Appendix 11A: The Critical Role of “Prompt Corrective Action” Appendix 11B: Table of Relevant Guaranty Association Coverage Levels by State As of September 19, 2013 (Subject to Change) Chapter 12: Comparative Regulation of Market Intermediaries: Insights from the Indian Life Insurance Market (Santosh Anagol (Wharton), Shawn Cole (Harvard Business School), and Shayak Sarkar (Harvard University)) About the Authors About the Website Index

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Book SynopsisThe Law of Compulsory Motor Vehicle Insurance covers motor vehicle compulsory liability insurance in a broad context by putting emphasis on the fundamental principles unique to this type of insurance, their operation together with the general principles of law, and the interventions of the relevant EU Directives and CJEU decisions.The law regarding motor vehicle liability insurance is ever-evolving, fast-developing and offering more intellectual challenges as the disputes vary every day. This book examines the principles applicable in this area of law by studying the grounds where the rules derive from and their continuing developments over decades at both domestic and EU levels. Whilst doing so it also discusses whether the sources of the current applicable law, in several different motor vehicle compulsory insurance related issues, are in line with each other. The book also presents careful analyses of the interplay between the different sources of law, detailed discussionsTrade Review"The legal principles applicable to compulsory motor insurance are complex and intricate. They derive from: domestic legislation dating back to 1930; industry agreements filling in the gaps created by uninsured or hit and run drivers; European Union single market directives designed to secure equality of protection for victims wherever the accident occurs; and a series of lengthy decisions from both the UK courts and the Court of Justice of the European Union on the correct interpretation of the legislation and directives. Weaving all of these disparate but interrelated sources into a single volume explaining how they operate together is a major challenge. Dr Gurses’ work The Law of Compulsory Motor Vehicle Insurance is the first short work of its type to undertake this task. The author explains succinctly how the law works, explains the conflict between the UK and EU approaches and identifies future challenges. This book is clear, concise and authoritative. It will be of immense value to practitioners seeking an understanding of the regime, and also to students of insurance law. Those teaching and studying tort law will also find much of value in this work: a substantial proportion of personal injury claims arise from accidents on the road, but academics have generally shied away from looking behind tort principles to how claims are actually paid." Professor Robert Merkin QC"The new publication written by Gurses fills a gap. The regulation of traffic accidents involving motor vehicles puts high demands on the practice. This is not least due to the complex interplay of national and European law. The European system of far-reaching protection of victims offers many advantages. These include, in particular, the direct claim, which guarantees reliable regulation of damages by an insurer or, if no insurance protection intervenes, national guarantee funds such as the Motor Insurers' Bureau. Any questions of interpretation of the EU rules, such as the scope of protection, must be clarified by the European Court of Justice. In contrast, the conditions and amount of the claim for damages continue to be governed by the law at the place of the accident. This law differs considerably in the Member States. Gurses addresses these issues and many other topics - such as the scope of insurance coverage requirements, the control of contract terms, or the public policy doctrine in a concise manner. It is particularly commendable that she makes the complex legal situation in the UK, including the case law, comprehensible. The book is rounded off by an overview of the innovations of the Automated and Electric Vehicles Act 2018, especially with regard to liability."Univ.-Prof. Dr. Christian Armbrüster, Freie Universität Berlin"The legal principles applicable to compulsory motor insurance are complex and intricate. They derive from: domestic legislation dating back to 1930; industry agreements filling in the gaps created by uninsured or hit and run drivers; European Union single market directives designed to secure equality of protection for victims wherever the accident occurs; and a series of lengthy decisions from both the UK courts and the Court of Justice of the European Union on the correct interpretation of the legislation and directives. Weaving all of these disparate but interrelated sources into a single volume explaining how they operate together is a major challenge. Dr Gurses’ work The Law of Compulsory Motor Vehicle Insurance is the first short work of its type to undertake this task. The author explains succinctly how the law works, explains the conflict between the UK and EU approaches and identifies future challenges. This book is clear, concise and authoritative. It will be of immense value to practitioners seeking an understanding of the regime, and also to students of insurance law. Those teaching and studying tort law will also find much of value in this work: a substantial proportion of personal injury claims arise from accidents on the road, but academics have generally shied away from looking behind tort principles to how claims are actually paid."Professor Robert Merkin QC"The new publication written by Gurses fills a gap. The regulation of traffic accidents involving motor vehicles puts high demands on the practice. This is not least due to the complex interplay of national and European law. The European system of far-reaching protection of victims offers many advantages. These include, in particular, the direct claim, which guarantees reliable regulation of damages by an insurer or, if no insurance protection intervenes, national guarantee funds such as the Motor Insurers' Bureau. Any questions of interpretation of the EU rules, such as the scope of protection, must be clarified by the European Court of Justice. In contrast, the conditions and amount of the claim for damages continue to be governed by the law at the place of the accident. This law differs considerably in the Member States. Gurses addresses these issues and many other topics - such as the scope of insurance coverage requirements, the control of contract terms, or the public policy doctrine in a concise manner. It is particularly commendable that she makes the complex legal situation in the UK, including the case law, comprehensible. The book is rounded off by an overview of the innovations of the Automated and Electric Vehicles Act 2018, especially with regard to liability."Univ.-Prof. Dr. Christian Armbrüster, Freie Universität BerlinTable of Contents1 Brief History of the Insurance Obligation and Interaction with the EU Law 2 The Insurance Obligation: Overview 3 Insurance Obligation: Scope (Meaning of ‘Permit’ ‘Cause’ ‘Motor Vehicle’ ‘Road or Other Public Place’) 4 Requirements with Respect to the Insurance Policy: Form and Scope 5 The Meaning of ‘Use’ of a Vehicle 6 Civil Liability 7 Control of Policy Terms 8 Third Party Victim’s Right of Direct Action Against Insurers 9 Credit Hire Agreements 10 Motor Insurers’ Bureau 11 Injuries Suffered in the EU 12 The Public Policy Doctrine 13 Insurance of Automated Vehicles

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Book SynopsisGood Faith and Insurance Contracts sets out an exhaustive analysis of the law concerning the duty of utmost good faith, as applied to insurance contracts. Now in its fourth edition, it has been updated to address the arrival of the Insurance Act 2015, as well as any references to new case law. In addition, it synthesises all known judicial decisions by the English Courts concerning good faith in this area.This book is still the only text devoted to a discussion of the duty of utmost good faith applicable to insurance contracts. As good faith is an issue which arises in respect of all insurance contracts, it is a book which will be extremely useful to lawyers involved in insurance as well as insurance practitioners. Table of Contents The insurance contract uberrimae fidei Other contracts of the utmost good faith The nature of the duty of the utmost good faith The source of the duty of utmost good faith Law reform Legislation affecting the duty of good faith The assured’s duty of the fair presentation of the risk at placing The exceptions to the duty of disclosure at placing Modification of the duty of disclosure at placing The post-contractual duty of good faith The assured’s duty of utmost good faith and claims The insurer’s duty Third parties Materiality and inducement Examples of material facts Remedies The loss of the insurer’s right to exercise a remedy or to rely upon a breach of warranty Evidence: Proving a breach of duty or a defence

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Book SynopsisThe Insurance Act 2015 represents the first major reform of English commercial insurance law for many years. Its impact will be felt not only in England, where it will greatly affect both maritime and commercial insurance practice, but also elsewhere where English law is the law of choice in insurance contracts. The Insurance Act 2015: A New Regime for Commercial and Marine Insurance Law analyses in depth the key aspects of the Act and extensively restates and modifies a number of legal principles applying both at common law and under the Marine Insurance Act 1906. Offering much more than the usual commentary on legislation, this book provides critical in-depth analysis of the important topics as was all coverage of areas likely to spawn disputes in future. Written by leading practitioners and academics in the field, this book offers comprehensive, coherent and practical legal analysis of the changes introduced by the Insurance Act 2015. It is a key point of reference Trade Review'This book comprehensively achieves its twin aims of providing critical in-depth analysis of the Insurance Act 2015 (the 2015 Act) and identifying grey areas in that Act. The editors...have put together a remarkable team of contributing authors, all leaders in their field...It will be of great assistance to brokers, insurers, lawyers, academics, students and, no doubt, in due course, to the judiciary.'John Dunt, The Journal of International Maritime LawTable of ContentsChapter 1 (D. Hertzell, Consultant to BLM and Former Law Commissioner for Commercial and Common Law): The Insurance Act 2015: Background and PhilosophyChapter 2 (P. MacDonald-Eggers QC, 7 KBW): The Fair Presentation of Commercial Risks Under the Insurance Act 2015 Chapter 3 (Professor B. Soyer, Institute of International Shipping and Trade Law): Insurer’s Duty of Good Faith: Is the Path Now Clear for Introduction of New Remedies? Chapter 4 (Professor M. Clarke, St Johns College Cambridge): The Future of Warranties and Other Related Terms in Contracts of InsuranceChapter 5 (S. Rainey QC, Quadrant Chambers): Remedies for Fraudulent Claims under the Insurance Act 2015Chapter 6 (Professor A. Tettenborn, Institute of International Shipping and Trade Law): Late Payment of Claims: Better, But by No Means PerfectChapter 7 (Associate Professor G. Leloudas, Institute of International Shipping and Trade Law): Contracting Out of the Insurance Act 2015 in Commercial Insurance ContractsChapter 8 (Sir Bernard Rix, Arbitrator, Mediator, 20 Essex Street, Former Court of Appeal Judge): Conclusion: General Reflections on the Law Reform

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Book SynopsisDelay in a marine adventure is an important and frequent phenomenon of maritime transport as it affects various parties and their interests. Insurance Law Implications of Delay in Maritime Transport is the first single book to deal specifically with this issue in the context of insurance law. The book addresses the losses and expenses that may arise from delay or loss of time in maritime transport, the types of insurance available covering or excluding losses arising from it and the impact of delay on voyage policies. The author, Aysegül Bugra, critically examines and evaluates the scope of several different types of marine insurance policies, including but not limited to: hull and machinery, cargo, freight, loss of hire and marine delay in start-up insurance. Furthermore, the book analyses the current law by tracing back the relevant common law authorities to the 18th century and examines the wordings used in practice from that time to today with a comprehensive and cTable of Contents1. Introduction to Delay as a Risk and Fortuity Considerations 2. Cargo Insurance and Delay: Physical Loss to the Subject-Matter Insured 3. Issues Arising from Delay in Delivery of Cargo 4. Cargo Insurance and Expenses Arising During the Period of Delay 5. Marine Delay in Start-Up Insurance 6. Freight Insurance and the Loss of Time Clause 7. Hull and Machinery Insurance and Delay Considerations 8. Loss of Charter Hire Insurance and Loss of Time 9. Implied Condition as to the Commencement of Risk 10. Delay in Voyage

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Book SynopsisThe new edition of this British Insurance Law Association (BILA)-award winning text is the definitive reference source for marine cargo insurance law. Written by an author who was closely involved with the revisions to the Institute Cargo Clauses 2009, the work expertly examines marine cargo insurance by reference to important English and foreign legal cases as well as the Marine Insurance Act 1906. Logically arranged to reflect the structure of the Institute Cargo Clauses, the most widely used standard form of cover, this text offers easy to find solutions for today's busy practitioner. New to this edition: Completely revised to include the Insurance Act 2015 (duty of fair presentation; warranties, fraudulent claims) Brand new chapter on the revised Institute Ancillary and Trade Clauses, including those to be introduced on 1 November 2015 Increased coverage of jurisdictionTable of Contents1. History and Definition of Marine Cargo Insurance 2. Law and Jurisdiction Clauses 3. Open Covers, Policies and Certificates of Insurance 4. Insurable Interest and the Indemnity Principle 5. Good Faith, Non-Disclosure and Misrepresentation and the Duty of Fair Presentation 6. Warranties, Conditions and Exclusions 7. Causation 8. All Risks and Exclusions 9. Named Perils Cover and Insurance for Specific Trades, Commodities and Transits 10. War, Strikes, Terrorism and Rejection Risks 11. Duration of the Insurance 1: The Transit Clause 12. Duration of the Insurance 2: Termination of Carriage and Change of Voyage 13. Claims and Losses 14. Recoverable Expenses and Liabilities: Sue and Labour, Salvage, General Average and Collision Liabilities 15. Measure of Indemnity 16. Subrogation, Double Insurance and Rights of Contribution

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Book SynopsisApproximately 40 per cent of value of international trade comes from goods carried by air, and the consequences of goods being damaged, destroyed or delayed can be serious, substantial, and perhaps unforeseen. This exciting new book is the only one on the market that deals exclusively with air cargo insurance, and will therefore, be a vital addition to the collection of any practitioner, professional or academic working in the field. Air Cargo Insurance analyses the model policies and standard terms and conditions on the London markets. The authors also provide readers with an invaluable perspective on cases in other jurisdictions, and the book discusses freight forwarders' relations with airlines and addresses the possibility of recovery from third parties. This book, written by two of the leading experts in the field, provides invaluable guidance to practitioners, arbitrators and cargo-claims professionals. It will help to ensure that air cargo insurance contracts arTable of Contents1: General Principles2: Air Cargo Insurance: General Principles3: Insurance Claims by Cargo Interests4: Liability Insurance5: Air Cargo Liability Insurance Claims6: Air Cargo Property Claims

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Book SynopsisThis is the third revised edition of what was described by the English Court of Appeal in C v D as the “standard work” on Bermuda Form excess insurance policies. The Form, first used in the 1980s, covers liabilities for catastrophes such as serious explosions or mass tort litigation and is now widely used by insurance companies. It is unusual in that it includes a clause requiring disputes to be arbitrated under English procedural rules in London but subject to New York substantive law. This calls for a rare mix of knowledge and experience on the part of the lawyers involved, each of whom is required to confront the many differences between English and US law and legal culture. In addition, since the awards of arbitrators are confidential and are not subject to the scrutiny of the courts, the book helps professionals understand the Form's lengthy and complex provisions. The book, first published in 2004, was the first comprehensive analysis of the Bermuda Form. It is frequently cited in Bermuda Form arbitrations and was the joint winner in 2012 of British Insurance Law Association Book Prize for the most notable contribution to literature in the field of law as it affects insurance. It offers a detailed commentary on how the Form is to be construed, its coverage, the substantive law to be applied, the limits of liability, exceptions, and, of course, the procedures to be followed during arbitration proceedings in London. The book will prove invaluable to lawyers, risk managers, and executives of companies which purchase insurance on the Bermuda Form, and to clients, lawyers or arbitrators involved in disputes arising therefrom. This title is included in Bloomsbury Professional's International Arbitration online service.Table of Contents1. THE LEGAL AND ECONOMIC ORIGINS OF THE BERMUDA FORM Policy Forms and Liability Problems US Legal Decisions on Insurance Coverage Issues The Creation of ACE and XL Key Features of the Bermuda Form 2. THE BERMUDA FORM: ITS BASIC STRUCTURE An Occurrence Reported Form The Period of Cover: Coverage A and B Limits The Excess Point The Inception and Retroactive Coverage Dates The Exclusions The Conditions Schedules and Endorsements 3. CHOICE OF LAW ISSUES UNDER THE BERMUDA FORM Identifying the Relevant Governing Law The Division between Substance and Procedure 4. INTERPRETATION OF THE BERMUDA FORM AND THE MODIFICATION OF NEW YORK LAW The Structure of the Modification of the New York Law Proviso Interpretation of Insurance Contracts: The Basic Approach Interpretation of the Modification of the New York Law Proviso The ‘Forbidden Grounds’ Fruit of the Poisonous Tree? 5. THE COVERAGE CLAUSE Insurance against Liability The Insured Ultimate Net Loss/All Sums Insurance … For Damages Judgments Settlements by the Policyholder Mitigation of Damages Allocation of Payments Personal Injury, Property Damage and Advertising Liability Personal Injury Property Damage Advertising Liability Other Aspects of the Coverage Clause 6. THE DEFINITION OF ‘OCCURRENCE’ Introduction ‘Occurrence’: The Basic Definition Aggregation Expected or Intended Injury 6 7. FORTUITY, EXPECTED OR INTENDED, AND THE ‘MAINTENANCE DEDUCTIBLE’ Introduction Fortuity and Related Doctrines Expectation and Intention The ‘Maintenance Deductible’ 8. NOTICE OF OCCURRENCE Introduction Method of Giving Notice Notice as a Condition of Coverage Notice as a Trigger of Coverage: Legal and Practical Considerations 9. ARTICLE II: THE EXCESS POINT AND LIMITS OF LIABILITY The Excess Point The Other Insurance Condition The Policy Limits Joint Ventures, Partnerships and Minority Interests 10. THE EXCLUSIONS Introduction 6 Interpretation of Exclusion Clauses: General Principles and the Effect of the Bermuda Form’s Modification of New York Law Causation The Specific Exclusions in the Bermuda Form: Introduction The ‘Prior to Inception or Retroactive Coverage Date’ and ‘Other Insurance’ Exclusion The ‘Workers’ Compensation, etc’ Exclusion The ‘Professional Services’ Exclusion The ‘Owned Property; Care, Custody or Control, etc’ Exclusion The ‘Products Liability’ Exclusions (‘Efficacy, Loss of Use, etc’) The ‘Advertising’ Exclusion The ‘War’ Exclusion The ‘Toxic Substances’ Exclusion The ‘Aircraft’ Exclusion The ‘Watercraft’ Exclusion The ‘Pollution’ Exclusion The ‘Nuclear’ and the ‘Radioactive Contamination (Outside the United States)’ Exclusions The ‘Erisa’ Exclusion The ‘Repetitive Stress’ Exclusion The ‘Securities, Antitrust, etc’ Exclusion 11. THE CONDITIONS The Premium Condition The Inspection Condition The Cross-liability Condition The Notice of Occurrence Condition The Assistance and Co-operation Condition The Appeals Condition The Loss Payable Condition The Representation Condition The Other Insurance Condition The Subrogation Condition The Changes Condition The Assignment Condition The Cancellation Condition The Currency Condition The Arbitration Condition The Conflicting Statutes Condition The Law of Construction and Interpretation Condition The Proration of Losses Condition The Liability of the Company Condition The Policy Extension Condition The Reinstatement Condition The Discovery Period Condition The Expiration Date Condition The Former Subsidiaries, Affiliates and Associated Companies Condition The Notice Condition The Headings Condition 12. MISREPRESENTATION AND NON-DISCLOSURE Introduction Non-Disclosure under New York Law Misrepresentation under New York Law Remedy for Misrepresentation 13. WAIVER AND ESTOPPEL AND RESERVATIONS OF RIGHTS Introduction Waiver Estoppel The ‘Changes’ Condition in the Bermuda Form 14. COMMENCING A BERMUDA FORM ARBITRATION AND APPOINTING ATTORNEYS AND ARBITRATORS Introduction Legal Representation The Commencement of Arbitration The Selection of an Arbitrator Appendix: Notice to Commence Arbitration 15. THE COURSE AND CONDUCT OF A BERMUDA FORM ARBITRATION IN LONDON Introduction The Overall Shape of the Arbitration The ‘Pleadings’ Stage The First Order for Directions Confidentiality Discovery of Documents Preliminary Issues or ‘Bifurcation’ Witness Statements Expert Evidence Preparation for the Substantive Hearing The Substantive Hearing The Award and Post-Award Events Appendix 1: First Order for Directions Appendix 2: Protective Order 16. DISCOVERY, PRIVILEGE AND WAIVER OF PRIVILEGE General Principles Discovery in Arbitration in Practice Legal Professional Privilege Waiver of Privilege Confidential Documents Other Forms of Discovery 17. INTEREST AND COSTS Interest Costs

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Book SynopsisThe 4th edition of this leading introductory text – now under the sole authorship of Rob Merkin KC – provides a detailed examination of the developing law of insurance, combining exposition of the law with critical analysis. The book is designed primarily for undergraduate and postgraduate students, but is also a useful resource for those in the insurance industry studying for professional examinations and legal practitioners who need a concise guide to the legal principles. The text is enhanced by extensive citations to case law and academic commentaries; and a new companion website delivers annual case law updates. This new edition has been substantially rewritten in light of the transformation of insurance law in recent years. The text has been revised to include new legislation and coverage of the effects of Brexit. However, the approach and - where possible - the analysis of John Lowry and Philip Rawlings have been retained. The first part of the book considers the regulation of insurance business and the general principles underlying the law of insurance contracts. The second part examines the way those principles are shaped by the context in which they operate. A new chapter with case studies on COVID-19, earthquakes, and mesothelioma applies the principles to the problems and uncertainties for insurance law revealed by catastrophic losses. This authoritative text offers a sound grasp of the current realities of insurance practice.Trade ReviewGood level of detail, but nonetheless highly readable. Useful critical analysis to prompt students with their further reading and research. -- Kate Bracegirdle * University of Bristol *This is an accessible and well-structured student textbook, but also contains plenty of analysis and useful references for further study. -- Franziska Arnold-Dwyer * Queen Mary University Of London *Table of Contents1. The Insurance Contract 2. Regulation of Insurance Business 3. Insurance Intermediaries 4. The Duty to Make a Fair Presentation 5. Formation of the Insurance Contract 6. Insurable Interest 7. Third Party Rights 8. Terms of the Insurance Contract 9. Construing the Terms of the Insurance Contract 10. Causation 11. Claims Procedure 12. Measurement of Loss and Reinstatement 13. Subrogation and Contribution 14. Motor Insurance 15. Liability Insurance 16. Specific Insurances 17. Marine Insurance 18. Reinsurance 19. Case Studies

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Book SynopsisPrior to the September 2001 terrorist attacks on the United States, insurers generally did not exclude or separately charge for coverage of terrorism risk. The events of September 11, 2001, changed this as insurers realized the extent of possible terrorism losses. Congress responded to the disruption in the insurance market by passing the Terrorism Risk Insurance Act of 2002 (P.L. 107-297). The goals of TRIA are to (1) protect consumers by addressing market disruptions and ensuring the continued widespread availability and affordability of commercial property/casualty insurance for terrorism risk; and (2) allow for a transitional period for the private markets to stabilize, resume pricing of such insurance, and build capacity to absorb any future losses, while preserving state insurance regulation and consumer protections. The book looks at issues surrounding TRIA.Table of ContentsPreface; Terrorism Risk Insurance: Overview and Issue Analysis for the 116th Congress; Protecting America: The Reauthorization of the Terrorism Risk Insurance Program; Terrorism Risk Insurance: Market Challenges May Exist for Current Structure and Alternative Approaches; Terrorism Risk Insurance: Market Is Stable but Treasury Could Strengthen Communications about Its Processes; Terrorism Risk Insurance: Program Changes Have Reduced Federal Fiscal Exposure; The Terrorism Risk Insurance Act (TRIA); Index.

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Book SynopsisSection 215 of the FACT Act (FACTA)1 requires the Federal Trade Commission (FTC or the Commission) and the Federal Reserve Board (FRB), in consultation with the Department of Housing and Urban Development, to study whether credit scores and credit-based insurance scores affect the availability and affordability of consumer credit, as well as automobile and homeowners insurance. FACTA also directs the agencies to assess and report on how these scores are calculated and used; their effects on consumers, specifically their impact on certain groups of consumers, such as low-income consumers, racial and ethnic minority consumers, etc.; and whether alternative scoring models could be developed that would predict risk in a manner comparable to current models but have smaller differences in scores between different groups of consumers. The Commission issues this report to address credit-based insurance scores primarily in the context of automobile insurance. Credit-based insurance scores, like credit scores, are numerical summaries of consumers'' credit histories. Credit-based insurance scores typically are calculated using information about past delinquencies or information on the public record (eg: bankruptcies); debt ratios (i.e., how close a consumer is to his or her credit limit); evidence of seeking new credit (e.g., inquiries and new accounts); the length and age of credit history; and the use of certain types of credit (e.g., automobile loans).

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Book Synopsis

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Book Synopsis

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Book Synopsis

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Book Synopsis

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Book SynopsisInsurers have a right to require that those applying for insurance will truthfully answer all questions contained in their application, and they rely on the statements made by an insurance applicant. But what happens when an application for life, health, or disability insurance contains misrepresentations or intentional concealments? This comprehensive publication provides practitioners in the area of life, health, and disability insurance with a national survey of each of the fifty states, the District of Columbia, and the federal circuits regarding misrepresentations in applications as well as the applicable case law interpreting relevant statutes and developing the common law regarding misrepresentations. In addition, iit addresses the evolving issues related to misrepresentations in the context of the Employee Retirement Income Security Act ("ERISA"). Whether you represent insurers or insureds, you will find that Misrepresentation in the Life, Health, and Disability Insurance Application Process, Third Edition covers the full gamut of issues arising in the application process, including what constitutes a misrepresentation, how a policy is appropriately rescinded, and the defenses that may be raised to contest a decision to rescind a policy. This book is organized by jurisdiction and addresses how state common law and statutes address misrepresentations in the life, health, and disability insurance application context. In addition, there is a chapter for each federal circuit that provides an overview of misrepresentations in the context of an employee welfare benefit plan governed by ERISA. This important book will be a useful tool for any practitioner, whether representing an insured, an insurer, or in-house counsel. If you deal with life, heath and disability insurance, this book will be an essential and important addition to your library.

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Book SynopsisUpdated and expanded, The Law of Commercial Surety and Miscellaneous Bonds provides a more comprehensive analysis of the law relating to commercial and miscellaneous bonds. The book's twenty chapters address the various types of commercial surety and miscellaneous bonds, including their basic nature and purpose, what they cover, who is entitled to coverage under such bonds, and sureties' defenses to claims under such bonds. Each chapter covers a different type of commercial surety or miscellaneous bond. In addition, the book devotes an entire chapter to the commercial surety's collateral in a principal's bankruptcy case. In order to facilitate the use of this book as a reference source, a detailed table of contents sets forth the various topics addressed by each chapter. This book is an indispensable reference tool for experienced and entry level claim professionals and practitioners, as well as for general practitioners who can use this publication as an initial source from which to learn this complex area of law.

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Book SynopsisWhile there are many books about cybersecurity, data privacy and related issues, there are very few, if any, books about cyber insurance. A Practical Guide to Cyber Insurance for Businesses, fills that void and provides a practical look at cyber insurance for different types of businesses. This book is divided into two parts. The first eight chapters focus on the development of cyber insurance and various aspects and elements of cyber insurance that affect all industries, including how cyber insurance interacts with other commercial insurance coverage. Chapters nine through twenty-five take a closer look at the cyber risks and cyber insurance coverage needs for specific industries. In this way, the unique characteristics of each industry segment are highlighted and a review of cyber insurance for that industry segment is more focused. While not every possible industry segment is covered, the broadness of the industries covered should provide guidance to any business.

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Book SynopsisAmerican health care is at a crossroads. Health spending reached $3.5 trillion in 2017. Yet more than 27 million people remain uninsured. And it’s unclear if all that spending is buying higher-quality care. Patients, doctors, insurers, and the government acknowledge that the status quo is unsustainable. America’s last attempt at health care reform—Obamacare—didn’t work. Nearly a decade after its passage, Democrats are calling for a government takeover of the nation’s health care system: Medicare for All. Supporters of Medicare for All assert the right to health care, promising universal, high-quality care to all Americans at no cost. With a sales pitch like that, it’s no wonder the idea has broad support. Democrats, particularly progressive ones, hope to capitalize on this enthusiasm. Here Sally C. Pipes makes a case against Medicare for All. Using evidence from government-run systems in Canada and the U.K. she explains how single-payer health care makes a litany of promises it can’t possibly keep. Between unpacking the plans under consideration in Congress—including the real costs behind the claims—and detailing the horrors of single-payer care in other countries, Pipes highlights how Americans actually fare better than their peers in Canada and the U.K. on health outcomes. Included are heart-wrenching stories of the human costs of free, universal, government-run health care systems. Pipes concludes with her vision for delivering the affordable, accessible, quality care the American people are looking for.Trade Review“There is no better authority on Medicare for All than Sally Pipes, who lived under Canada’s government-run health care system and knows firsthand its failings. She brings facts and clear-eyed reality to the debate to show why centralized control over health care is so wrong for America while explaining a better path forward.” —Grace-Marie Turner, president, Galen Institute “As a former CEO of a successful company, I know how important competition is to ensuring a thriving and innovative industry. If government takes over our health care system—as Sally Pipes knows all too well—Americans can expect long waits, poor care, and higher taxes. This book presents not only the facts but also the human suffering of Canadians and others living under government-controlled health care. A must-read for those who want to stop single-payer health care from coming to America.” —Andy Puzder, former CEO of CKE Restaurants “In her brilliant False Premise, False Promise, Sally Pipes dissects “Medicare for All,” laying bare the defects of all the single-payer proposals hatched by the Left—including the horror of urgently needed but fatally delayed treatment as suffered by her mother in the Canadian system—and makes the compelling case for market-based health care as America’s vitally required prescription.” —Governor Pete Wilson “People say health care is complicated—not really. It’s government that has made it so. And no one can sort through the morass of health care policy and present the issues with such stark clarity as Sally Pipes. In False Premise, False Promise, she exposes the financial and the human costs of a government-run health care system. Death and taxes may be certain, but not Medicare for All, thanks to this new book.” —Dr. Arthur B. Laffer, founder and chairman of Laffer Associates “A highly readable, thoroughgoing and devastating indictment of Medicare for All. Pipes makes the convincing case that such a single payer scheme in America would have horrific consequences for the health of just about everyone. It would also kill innovation.” —Steve Forbes

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Book SynopsisChalmers' Marine Insurance Act 1906 is far more than a piece of annotated legislation; it includes case law with analysis and puts the decisions made in the individual cases into the context of Act. There is no other book or electronic service that does this. As marine insurance is encompassed by the Marine Insurance Act 1906 this book provides the user with an unrivalled guide to, and understanding of how the Act has evolved and how it is implemented in practice. It is a desk top, every day reference tool for anyone involved in any of the aspects of marine insurance. The new edition provides a new commentary reflecting the amendments to the Marine Insurance Act 1906 brought about the Insurance Act 2015. Important cases that are analysed include: · The DC Merwestone · The B Atlantic · Axa v Arig · The Cendor MOPU · The Bunga Melati Dua Previous ISBN: 9781845925949 This title is included in Bloomsbury Professional's Maritime and Shipping Law online service.Trade Review[a] welcome revival of this standard text * Lloyd's Maritime and Commercial Law Quarterly *Table of ContentsTHE MARINE INSURANCE ACT 1906 Marine Insurance 1. Marine insurance defined 2. Mixed sea and land risks 3. Marine adventure and maritime perils defined Insurable Interest 4. Avoidance of wagering or gaming contracts 5. Insurable interest defined 6. When interest must attach 7. Defeasible or contingent interest 8. Partial interest 9. Reinsurance 10. Bottomry 11. Master’s and seamen’s wages 12. Advance freight 13. Charges of insurance 14. Quantum of interest 15. Assignment of interest Insurable Value 16. Measure of insurable value Disclosure and Representations 17. Insurance is uberrimæ fi dei 18. Disclosure by assured 19. Disclosure by agent effecting insurance 20. Representations pending negotiation of contract 21. When contract is deemed to be concluded The Policy 22. Contract must be embodied in policy 23. What policy must specify 24. Signature of insurer 25. Voyage and time policies 26. Designation of subject-matter 27. Valued policy 28. Unvalued policy 29. Floating policy by ship or ships 30. Construction of terms in policy 31. Premium to be arranged Double Insurance 32. Double insurance Warranties etc 33. Nature of warranty 34. When breach of warranty excused 35. Express warranties 36. Warranty of neutrality 37. No implied warranty of nationality 38. Warranty of good safety 39. Warranty of seaworthiness of ship 40. No implied warranty that goods are seaworthy 41. Warranty of legality The Voyage 42. Implied condition as to commencement of risk 43. Alteration of port of departure 44. Sailing for different destination 45. Change of voyage 46. Deviation 47. Several ports of discharge 48. Delay in voyage 49. Excuses for deviation or delay Assignment of Policy 50. When and how policy is assignable 51. Assured who has no interest cannot assign The Premium 52. When premium payable 53. Policy effected through broker 54. Effect of receipt on policy Loss and Abandonment 55. Included and excluded losses 56. Partial and total loss 57. Actual total loss 58. Missing ship 59. Effect of transhipment etc 60. Constructive total loss defined 61. Effect of constructive total loss 62. Notice of abandonment 63. Effect of abandonment Partial Losses (including Salvage and General Average and Particular Charges) 64. Particular average loss 65. Salvage charges 66. General average loss Measure of Indemnity 67. Extent of liability of insurer for loss 68. Total loss 69. Partial loss of ship 70. Partial loss of freight 71. Partial loss of goods, merchandise etc 72. Apportionment of valuation 73. General average contributions and salvage charges 74. Liabilities to third parties 75. General provisions as to measure of indemnity 76. Particular average warranties 77. Successive losses 78. Suing and labouring clause Rights of Insurer on Payment 79. Right of subrogation 80. Right of contribution 81. Effect of under-insurance Return of Premium 82. Enforcement of return 83. Return by agreement 84. Return for failure of consideration Mutual Insurance 85. Modification of Act in case of mutual insurance Supplemental 86. Ratification by assured 87. Implied obligations varied by agreement or usage 88. Reasonable time etc, a question of fact 89. Slip as evidence 90. Interpretation of terms 91. Savings 94. Short title First Schedule Form of policy Rules for construction of policy APPENDIX I – INSURANCE ACT 2015 APPENDIX II – THE INSTITUTE CLAUSES (1) Hull Clauses Time Voyage War and Strikes (Time) War and Strikes (Voyage) (2) Freight Clauses Time Voyage War and Strikes (Time) (3) Cargo Clauses (A) (B) (C) War Strikes APPENDIX III — YORK-ANTWERP RULES 2016 APPENDIX IV — RULES OF PRACTICE APPENDIX V — No. 94 – ORDER FOR PRODUCTION OF DOCUMENTS IN MARINE INSURANCE CLAIM APPENDIX VI — THE MARINE INSURANCE ACT 1906 (1st EDITION) BY SIR MD CHALMERS AND DOUGLAS OWEN, PUBLISHED 1907

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Book SynopsisThe fields of insurance law and insurance economics have long and distinguished scholarly histories, but participants in the two disciplines have not always communicated well across academic silos. This Handbook encourages more policy-relevant insurance economics scholarship and more economically sophisticated legal scholarship by bringing together original contributions from leading scholars in both fields.The benefits of this inter-disciplinary approach are introduced and illustrated in four comprehensive sections:- Why and how do individuals purchase insurance?- The role of the state in insurance markets- The regulation of insurance- Insurance law in the courts.Overall, this Handbook synthesizes the insights of insurance economics with the flourishing body of economically oriented research in insurance law.As well as providing a new approach for scholars, the Handbook will prove a useful reference for insurance lawyers and insurance regulators owing to its policy relevant, practical approach.Contributors: K.S. Abraham, D. Asmat, R. Avraham, T. Baker, E.F. Brown, P.-A. Chiappori, M.F. Grace, S.E. Harrington, D. Jaffee, R.W. Klein, H.C. Kunreuther, J. Kwak, K.D. Logue, J.A. Nyman, M.V. Pauly, D. Schwarcz, P. Siegelman, C. Silver, R. Squire, S. TennysonTrade Review'The Research Handbook is a tremendously useful resource for both experienced insurance and insurance law scholars as well as newcomers to either field. The articles cover the most pressing questions in both disciplines in a succinct, accessible manner, without over-simplifying the inquiry. Economics, cognitive science, regulatory theory, and legal analysis are all brought to bear to illuminate the field. The Handbook is particularly successful in its avowed mission of working to bridge the persistent gap between scholarship regarding insurance theory and operations and scholarship addressing legal issues surrounding insurance.' --(Jeffrey W. Stempel, University of Nevada, Las Vegas, US)'Although insurance law is important and raises very interesting issues, it has received insufficient attention. This book, which puts together contributions by leading scholars, provides state-of-the-art but accessible analysis of the field's key issues. The chapters of the book combine tools in law and in economics to illuminate a range of significant issues. It is a welcome addition to the literature that will be an invaluable resource for both students and scholars.' --(Alma Cohen, Harvard Law School, US)'A dazzling collection of essays from leading experts in the field, this volume offers a superb overview of the economics of insurance and the implications for insurance law and regulation, covering a host of topical policy issues from health care reform and solvency regulation to the organization of insurance supervision and the optimal design of insurance contracts. For both students of insurance regulation and experienced practitioners, the Handbook provides an invaluable window into recent academic scholarship on insurance economics and its application to the legal challenges facing the insurance industry today and in the years ahead.' --(Howell E. Jackson, Harvard Law School, US)Table of ContentsContents: Introduction Daniel Schwarcz and Peter Siegelman PART I WHY AND HOW DO INDIVIDUALS PURCHASE INSURANCE? 1. Behavioral Economics and Insurance: Principles and Solutions Howard C. Kunreuther and Mark V. Pauly 2. Insurance Agents in the 21st Century: The Problem of Biased Advice Daniel Schwarcz and Peter Siegelman 3. Moral and Other Hazards of Economic Analysis of Health Insurance John A. Nyman 4. Does The Theory of Insurance Support Awarding Pain and Suffering Damages in Torts? Ronen Avraham PART II THE ROLE OF THE STATE IN INSURANCE MARKETS 5. “Social Insurance,” Risk Spreading, and Redistribution James Kwak 6. Catastrophe Insurance Dwight Jaffee 7. US Healthcare Reform Scott E. Harrington PART III INSURANCE REGULATION 8. Insurance Solvency Regulation: A New World Order? Elizabeth F. Brown and Robert W. Klein 9. Classification Risk and its Regulation Kenneth S. Abraham and Pierre-André Chiappori 10. Economics of State versus Federal Regulation Martin F. Grace PART IV COURTS AND INSURANCE 11. Mandatory Rules and Default Rules in Insurance Contracts Tom Baker and Kyle D. Logue 12. The Law and Economics of Insurance Bad Faith Liability Daniel Asmat and Sharon Tennyson 13. Basic Economics of the Defense of Covered Claims Charles Silver 14. The Artificial Collective-Action Problem in Lawsuits Against Insured Defendents Richard Squire 15. The Law and Economics of Liability Insurance: A Theoretical and Empirical Review Tom Baker and Peter Siegelman Index

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Book SynopsisThe fields of insurance law and insurance economics have long and distinguished scholarly histories, but participants in the two disciplines have not always communicated well across academic silos. This Handbook encourages more policy-relevant insurance economics scholarship and more economically sophisticated legal scholarship by bringing together original contributions from leading scholars in both fields.The benefits of this inter-disciplinary approach are introduced and illustrated in four comprehensive sections:- Why and how do individuals purchase insurance?- The role of the state in insurance markets- The regulation of insurance- Insurance law in the courts.Overall, this Handbook synthesizes the insights of insurance economics with the flourishing body of economically oriented research in insurance law.As well as providing a new approach for scholars, the Handbook will prove a useful reference for insurance lawyers and insurance regulators owing to its policy relevant, practical approach.Contributors: K.S. Abraham, D. Asmat, R. Avraham, T. Baker, E.F. Brown, P.-A. Chiappori, M.F. Grace, S.E. Harrington, D. Jaffee, R.W. Klein, H.C. Kunreuther, J. Kwak, K.D. Logue, J.A. Nyman, M.V. Pauly, D. Schwarcz, P. Siegelman, C. Silver, R. Squire, S. TennysonTrade Review'The Research Handbook is a tremendously useful resource for both experienced insurance and insurance law scholars as well as newcomers to either field. The articles cover the most pressing questions in both disciplines in a succinct, accessible manner, without over-simplifying the inquiry. Economics, cognitive science, regulatory theory, and legal analysis are all brought to bear to illuminate the field. The Handbook is particularly successful in its avowed mission of working to bridge the persistent gap between scholarship regarding insurance theory and operations and scholarship addressing legal issues surrounding insurance.' --(Jeffrey W. Stempel, University of Nevada, Las Vegas, US)'Although insurance law is important and raises very interesting issues, it has received insufficient attention. This book, which puts together contributions by leading scholars, provides state-of-the-art but accessible analysis of the field's key issues. The chapters of the book combine tools in law and in economics to illuminate a range of significant issues. It is a welcome addition to the literature that will be an invaluable resource for both students and scholars.' --(Alma Cohen, Harvard Law School, US)'A dazzling collection of essays from leading experts in the field, this volume offers a superb overview of the economics of insurance and the implications for insurance law and regulation, covering a host of topical policy issues from health care reform and solvency regulation to the organization of insurance supervision and the optimal design of insurance contracts. For both students of insurance regulation and experienced practitioners, the Handbook provides an invaluable window into recent academic scholarship on insurance economics and its application to the legal challenges facing the insurance industry today and in the years ahead.' --(Howell E. Jackson, Harvard Law School, US)Table of ContentsContents: Introduction Daniel Schwarcz and Peter Siegelman PART I WHY AND HOW DO INDIVIDUALS PURCHASE INSURANCE? 1. Behavioral Economics and Insurance: Principles and Solutions Howard C. Kunreuther and Mark V. Pauly 2. Insurance Agents in the 21st Century: The Problem of Biased Advice Daniel Schwarcz and Peter Siegelman 3. Moral and Other Hazards of Economic Analysis of Health Insurance John A. Nyman 4. Does The Theory of Insurance Support Awarding Pain and Suffering Damages in Torts? Ronen Avraham PART II THE ROLE OF THE STATE IN INSURANCE MARKETS 5. “Social Insurance,” Risk Spreading, and Redistribution James Kwak 6. Catastrophe Insurance Dwight Jaffee 7. US Healthcare Reform Scott E. Harrington PART III INSURANCE REGULATION 8. Insurance Solvency Regulation: A New World Order? Elizabeth F. Brown and Robert W. Klein 9. Classification Risk and its Regulation Kenneth S. Abraham and Pierre-André Chiappori 10. Economics of State versus Federal Regulation Martin F. Grace PART IV COURTS AND INSURANCE 11. Mandatory Rules and Default Rules in Insurance Contracts Tom Baker and Kyle D. Logue 12. The Law and Economics of Insurance Bad Faith Liability Daniel Asmat and Sharon Tennyson 13. Basic Economics of the Defense of Covered Claims Charles Silver 14. The Artificial Collective-Action Problem in Lawsuits Against Insured Defendents Richard Squire 15. The Law and Economics of Liability Insurance: A Theoretical and Empirical Review Tom Baker and Peter Siegelman Index

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Book SynopsisThis book is an important contribution to a question that has received little analysis hitherto, namely, what is and what are the effect(s) of the duties imposed on an insurer to provide information to prospective policyholders. As well as original analysis of English, German and prospective European law, and with insights from law and economics, it makes some key recommendations. It should be read by all academics, policymakers, professionals and regulators with an interest in insurance law.'- John Birds, University of Manchester, UK'The serious reader will find here a first class monograph, well-structured and scholarly, with a clear perspective on some important issues arising in the law of insurance contracts today.'- From the foreword by Malcolm A. Clarke, St John s College, Cambridge, UKEnabling informed choices with regards to mass risk insurance is an aim pursued for decades now at both the national and European level. This book explores the extent to which the imposing of disclosure duties on the insurer may actually contribute to this end and where it inevitably reaches limits.Convinced that information problems cannot be solved by exclusively focusing on their legal dimension, the author provides the reader with a helpful overview of economic and behavior-orientated insights to the book's subject. Proceeding from these, the existing legal frameworks in the UK and Germany are critically analyzed and compared to more recent academic proposals for a future European insurance contract law. All of this is continuously supplemented by specific proposals for improvement.This inspiring book will be of use to scholars dealing with financial law and general questions of information policy. Insurance companies and lawyers dealing with cases first-hand will also find this to be a resourceful read.Trade Review‘This book is the result of a mind-bendingly huge amount of research. As such, it makes an invaluable contribution to the literature on at least one of the financial services industries which clearly need to put certain reforms in place. Loacker has started a very substantial debate which will continue for some years.’ -- Philip Taylor, MBE, Richmond Green Chambers‘This book is an important contribution to a question that has received little analysis hitherto, namely, what is and what are the effect(s) of the duties imposed on an insurer to provide information to prospective policyholders. As well as original analysis of English, German and prospective European law, and with insights from law and economics, it makes some key recommendations. It should be read by all academics, policymakers, professionals and regulators with an interest in insurance law.’ -- John Birds, University of Manchester, UK‘The serious reader will find here a first class monograph, well-structured and scholarly, with a clear perspective on some important issues arising in the law of insurance contracts today.’ -- From the foreword by Malcolm A. Clarke, St John’s College, Cambridge, UKTable of ContentsContents: Foreword by Malcolm A Clarke 1. Overview and Introduction 2. About Information and its Disclosure in General 3. Legal Basis for and Scope of Insurer's Pre-Contractual Information Duties 4. A Conclusion in Eight Final Observations Index

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Book SynopsisThis authoritative work forms a comprehensive examination of the legal and historical context of marine insurance, providing a detailed overview of the events and factors leading to its codification in the Marine Insurance Act 1906. It investigates the development of the legal principles and case law that underpin the Act to reveal how successful this codification truly was, and to demonstrate how these historical precedents remain relevant to marine insurance law to this day.Beginning with the pivotal year of 1756, Rob Merkin QC organises his analysis era by era, situating the leading cases and emerging fundamentals of the marine insurance industry in the context of external events such as war, the growth of free international trade, and the expansion of empire. Offering insight into the origins of familiar legal principles in the field, the book provides a deeper understanding of the legal framework within which historical events took place and how this shaped both the development of marine insurance law and the political and economic circumstances surrounding it.Key features include: In-depth research by one of the leading experts in marine insurance law Context for and therefore deeper understanding of legal principles in the field An authoritative account of the development of modern law of marine insurance through its historical roots. Legal historians interested in marine insurance and international maritime law more broadly as well as other historians of the period will find the depth of research and breadth of coverage in this book invaluable. Its grounding of important principles in their historical context will also be useful to practising lawyers in the field grappling with current marine insurance issues.Trade Review‘This is a monumental work which deserves a readership amongst insurance lawyers and professional insurers, and a wider readership amongst those who are interested in commercial and social history.’ -- Peter MacDonald Eggers, The Journal of International Maritime Law‘The long stability of the Marine Insurance Act 1906 gives the impression that it is the culmination of everything that needed to be said about marine insurance. Anyone who wants to look behind the serene, unruffled exterior of the Act will discover that it masks a long and unsettled history from a time when maritime trade was hotly contested. There could be no better companion in exploring that history than Professor Merkin’s endlessly fascinating new book.’ -- Martin Davies, Lloyd’s Maritime and Commercial Law Quarterly‘The book provides a history of marine insurance law from 1756-1906 and, in particular, highlights the fascinating influence of war and conflict on the development of insurance law and practice. This is a history of trade and conflict through the prism of law and will be of interest not merely to historians, but also to practitioners who need to understand how and why particular clauses were developed and the contemporary understandings which underpinned the drafting of the Marine Insurance Act 1906.’ -- Professor Nick Gaskell, University of Queensland, Australia‘This monumental and meticulous work by one of the leading authorities in insurance law is the first to address comprehensively the history of the legal provisions and jurisprudence relating to marine insurance. Focussing mainly on British, American and European history, it will prove an invaluable and fascinating resource for all students and scholars across a range of disciplines who require a definitive exposition of the evolution of this body of law.’ -- Chantal Stebbings, University of Exeter, UK'Rob Merkin's remarkable book delivers much more than its rather modest title promises. It includes a broad-ranging history, both political and nautical, of three centuries of wars and alliances affecting English and American trade. It shows how war, prize, capture by pirates and privateers, blockades, slavery, and the depredations of Confederate cruisers affected the development of the principles of English marine insurance law and practice. Dense and detailed but easy to follow, the connections that it explains are invaluable.' -- Martin Davies, Tulane University Law School, USTable of ContentsContents: Foreword by Dame Sara Cockerill Preface 1. The framework of the Law of the Sea 2. Marine insurance in 1756 3. War, diplomacy and the Americas: 1756 to 1783 4. Perils on the seas: 1783 to 1815 5. Anglo-American trade and relations: 1783 to 1815 6. Marine insurance in an era of war: 1756 to 1815 7. Marine insurance in an era of war: 1756 to 1815 II Volume II 8. Trade and diplomacy after 1815 9. Marine insurance in an era of peace: 1815 to 1861 10. Slavery and the slave trade 11. The American civil war and British neutrality 12. The Confederate cruisers 13. The Alabama arbitration 14. Marine insurance in an era of neutrality: 1861 to 1875 15. Consolidating the Empire 16. Marine insurance in an era of Empire: 1875 to 1906 17. The Marine Insurance Act 1906 Index

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Book SynopsisThis comprehensive book will be essential reading for all those involved with fine art, jewellery and specie insurance. David Scully analyses the history, structure and dynamics of the global marketplace for this type of insurance, illustrating key points with real life examples to provide a practical guide to the business. Key features include: Coverage of how insurers determine the value of insured items Examination of relevant legal precedent in the UK and US, including judicial interpretation of exclusions and warranties Explanation of the key risk factors insurers consider, including traditional risks such as fire and theft as well as emerging risks such as defective title, professional liability and fakes and forgeries Specific chapters considering insurance for museums, exhibitions, private collectors, art dealers, jewellers, cash management companies, warehouses, art shippers, and other related businesses. This book will be a valuable resource for insurers in this area, including underwriters, claims professionals and in-house lawyers, and will provide deeper knowledge to lawyers, loss adjusters, insurance brokers and other interested parties. It will also be useful to museum registrars, art dealers and collectors, auctioneers and others, in helping them understand the risks they face.Trade Review'This is a masterly command of the insurance of fine art and jewellery. It is comprehensive, easy to navigate and with excellent case studies which make the whole very readable. It will become compulsory study for a serious underwriter, broker, risk manager or lawyers who advise on insurance although hopefully there will be fewer legal disputes if the book is read in advance.' -- Julian Radcliffe, Chairman, The Art Loss Register, London, UK‘Finally! How exciting to now have a comprehensive resource to put all the esoteric features of the global FAS world into proper historic and technical perspective. What a fantastic resource for those of us in the industry as well as those looking to enter in future.’ -- Jennifer M. Schipf, Global Chief Underwriting Officer, Fine Art & Specie, AXA XLTable of ContentsContents: Preface PART I THE FINE ART, JEWELLERY AND SPECIE INSURANCE MARKET 1. The Fine Art, Jewellery and Specie (FAJS insurance market PART II ART AND PRIVATE JEWELLERY 2. Art and private jewellery 3. Art and private jewellery values 4. Natural perils 5. Terrorism, political and cyber risks 6. Art theft 7. Damage and partial loss 8. Defective title, lenders’ single interest and residual value insurance 9. Professional liability 10. Museums and associated risks 11. Exhibition insurance 12. Art dealers and auctioneers 13. Private risks and high net worth insurance 14. Art storage 15. Art transit 16. Other art risks PART III JEWELLERS BLOCK AND SPECIE 17. Jewellers block 18. Jewellers block: off-premises risks 19. Cash 20. Specie 21. Fidelity and mysterious disappearance PART IV GENERAL REMARKS 22. Know your client, money laundering and ethics 23. Conclusion: the future Glossary Index

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Book SynopsisThis comprehensive book will be essential reading for all those involved with fine art, jewellery and specie insurance. David Scully analyses the history, structure and dynamics of the global marketplace for this type of insurance, illustrating key points with real life examples to provide a practical guide to the business. Key features include: Coverage of how insurers determine the value of insured items Examination of relevant legal precedent in the UK and US, including judicial interpretation of exclusions and warranties Explanation of the key risk factors insurers consider, including traditional risks such as fire and theft as well as emerging risks such as defective title, professional liability and fakes and forgeries Specific chapters considering insurance for museums, exhibitions, private collectors, art dealers, jewellers, cash management companies, warehouses, art shippers, and other related businesses. This book will be a valuable resource for insurers in this area, including underwriters, claims professionals and in-house lawyers, and will provide deeper knowledge to lawyers, loss adjusters, insurance brokers and other interested parties. It will also be useful to museum registrars, art dealers and collectors, auctioneers and others, in helping them understand the risks they face.Trade Review'This is a masterly command of the insurance of fine art and jewellery. It is comprehensive, easy to navigate and with excellent case studies which make the whole very readable. It will become compulsory study for a serious underwriter, broker, risk manager or lawyers who advise on insurance although hopefully there will be fewer legal disputes if the book is read in advance.' -- Julian Radcliffe, Chairman, The Art Loss Register, London, UK‘Finally! How exciting to now have a comprehensive resource to put all the esoteric features of the global FAS world into proper historic and technical perspective. What a fantastic resource for those of us in the industry as well as those looking to enter in future.’ -- Jennifer M. Schipf, Global Chief Underwriting Officer, Fine Art & Specie, AXA XLTable of ContentsContents: Preface PART I THE FINE ART, JEWELLERY AND SPECIE INSURANCE MARKET 1. The Fine Art, Jewellery and Specie (FAJS insurance market PART II ART AND PRIVATE JEWELLERY 2. Art and private jewellery 3. Art and private jewellery values 4. Natural perils 5. Terrorism, political and cyber risks 6. Art theft 7. Damage and partial loss 8. Defective title, lenders’ single interest and residual value insurance 9. Professional liability 10. Museums and associated risks 11. Exhibition insurance 12. Art dealers and auctioneers 13. Private risks and high net worth insurance 14. Art storage 15. Art transit 16. Other art risks PART III JEWELLERS BLOCK AND SPECIE 17. Jewellers block 18. Jewellers block: off-premises risks 19. Cash 20. Specie 21. Fidelity and mysterious disappearance PART IV GENERAL REMARKS 22. Know your client, money laundering and ethics 23. Conclusion: the future Glossary Index

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Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business, and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Providing a comprehensive overview of the body of law that regulates the insurance business, this Advanced Introduction evaluates the governing principles, policies, values, and purposes of insurance legislation and related judicial doctrines. It examines the ways in which the industry’s origins help us understand its present shape, and how insurance connects to major public policy issues that will shape the world for future generations. Key Features: Introduces the fundamental rules and principles of insurance law Explores how these rules and principles intersect with important issues of public policy Discusses how insurance law shapes public choices in the modern world Examines the interactions between insurers and the people who purchase their products Proposes avenues for further research relating to fortuity, indemnity, misrepresentation and breach of warranty, settlement obligations, and risk classification Providing an enlightening overview of insurance law in context, this Advanced Introduction will be crucial reading for students, scholars, and practitioners in business law, insurance law, and risk management.Trade Review‘Bob Jerry has done a remarkable job of covering a lot of ground in a short book. The Advanced Introduction lives up to its name, providing lawyers, judges and law students a high-level, sophisticated view of an enormously complex field of law.’ -- Tom Baker, University of Pennsylvania, Carey Law School, US‘Professor Jerry has written a succinct tour de force of insurance principles, doctrine, and policy that in addition to providing a roadmap for students is also a ready reference for insurance -- scholars.’– Jeffrey W. Stempel, University of Nevada, Las Vegas, US‘This book is a gem. Only an expert like its author can give such a brief and, at the same time, in-depth study of the legal and business sides of insurance. No previous knowledge is required, as the exposition is very clear and full of examples from everyday life.’ -- María Luisa Muñoz Paredes, University of Oviedo, Spain‘Dean Robert Jerry’s Advanced Introduction to Insurance Law is that rare compilation that respects its readers. For the novice, the book deals with a complex subject in an accessible and unpatronizing way; for the expert, the book is a valuable overview. Jerry’s ambitious goal of “seek[ing] to preserve the value of brevity while engaging the complexities [of insurance] . . . .” is easily met. This is a must read.’ -- Leo P. Martinez, University of California, USTable of ContentsContents: Preface 1. Introduction 2. The purpose, meaning, and roles of insurance 3. Conceptualizing insurance 4. The nature of the insurance business 5. The nature of insurance law and regulation 6. Elements of an insurance contract 7. Fundamental assumptions of insurance (and their limits) 8. Insurance as agreement: the influence of contract law 9. Scope of coverage: the boundaries of the insurer’s obligation 10. Liability insurance: indemnity, defense, and settlement obligations 11. Challenges in a changing world: why insurance matters (reprise) Index

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Book SynopsisElgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business, and law, expertly written by the world’s leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Providing a comprehensive overview of the body of law that regulates the insurance business, this Advanced Introduction evaluates the governing principles, policies, values, and purposes of insurance legislation and related judicial doctrines. It examines the ways in which the industry’s origins help us understand its present shape, and how insurance connects to major public policy issues that will shape the world for future generations. Key Features: Introduces the fundamental rules and principles of insurance law Explores how these rules and principles intersect with important issues of public policy Discusses how insurance law shapes public choices in the modern world Examines the interactions between insurers and the people who purchase their products Proposes avenues for further research relating to fortuity, indemnity, misrepresentation and breach of warranty, settlement obligations, and risk classification Providing an enlightening overview of insurance law in context, this Advanced Introduction will be crucial reading for students, scholars, and practitioners in business law, insurance law, and risk management.Trade Review‘Bob Jerry has done a remarkable job of covering a lot of ground in a short book. The Advanced Introduction lives up to its name, providing lawyers, judges and law students a high-level, sophisticated view of an enormously complex field of law.’ -- Tom Baker, University of Pennsylvania, Carey Law School, US‘Professor Jerry has written a succinct tour de force of insurance principles, doctrine, and policy that in addition to providing a roadmap for students is also a ready reference for insurance -- scholars.’– Jeffrey W. Stempel, University of Nevada, Las Vegas, US‘This book is a gem. Only an expert like its author can give such a brief and, at the same time, in-depth study of the legal and business sides of insurance. No previous knowledge is required, as the exposition is very clear and full of examples from everyday life.’ -- María Luisa Muñoz Paredes, University of Oviedo, Spain‘Dean Robert Jerry’s Advanced Introduction to Insurance Law is that rare compilation that respects its readers. For the novice, the book deals with a complex subject in an accessible and unpatronizing way; for the expert, the book is a valuable overview. Jerry’s ambitious goal of “seek[ing] to preserve the value of brevity while engaging the complexities [of insurance] . . . .” is easily met. This is a must read.’ -- Leo P. Martinez, University of California, USTable of ContentsContents: Preface 1. Introduction 2. The purpose, meaning, and roles of insurance 3. Conceptualizing insurance 4. The nature of the insurance business 5. The nature of insurance law and regulation 6. Elements of an insurance contract 7. Fundamental assumptions of insurance (and their limits) 8. Insurance as agreement: the influence of contract law 9. Scope of coverage: the boundaries of the insurer’s obligation 10. Liability insurance: indemnity, defense, and settlement obligations 11. Challenges in a changing world: why insurance matters (reprise) Index

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Book SynopsisThis thoroughly revised second edition of the Research Handbook on International Insurance Law and Regulation provides an updated assessment of the insurance industry in an international context, featuring 30 chapters, of which half are new for this edition, written by expert academics and practising lawyers.Produced in association with Lloyd’s of London, chapters provide in-depth studies on key areas including judicial interpretation of insurance contract clauses and transnational regulatory recognition, as well as overviews on important international jurisdictions such as the EU, Japan and the US. This comprehensive second edition critically analyses how insurance law and regulation have responded to the growth in sophisticated technology, the burgeoning climate crisis, and the development of new insurance structures.This Research Handbook will appeal to legal students and academics, particularly those with an interest in commercial law, finance and banking law, and insurance law. This book will also be beneficial for policymakers and private practice lawyers working in the commercial legal sector. Table of ContentsContents: Foreword xii Introduction to the second edition xiv Introduction to the first edition xxv PART I INSURANCE CONTRACT LAW 1 The shape of insurance contract law 2 James Davey 2 Methodology: how a law and economics approach has shaped insurance law 24 Peter Molk 3 Definition: the general and the parametric 36 Laura Burgoyne 4 Pre-contractual duties: the fair presentation of the risk – an English law approach 76 Peter MacDonald-Eggers KC 5 Contract terms: judicial approaches to the interpretation of insurance contracts 103 Oliver Brand 6 Claims: an overview of the US tort of ‘bad faith’ – a common law approach to regulating insurer claims-handling and settlements 133 Suzanne C. Midlige and William J. Metcalf 7 Reinsurance: finding the balance between reinsurers’ and reinsureds’ interests 165 Michael Mendelowitz and Rob Merkin KC 8 Closing books of business: the challenge of fairness and finality 192 Bob Haken and Simon Baker 9 Choice of law: New York and English approaches to insurance and reinsurance contracts 221 Raymond Cox KC PART II INSURANCE REGULATION 10 An introduction to insurance regulation 247 Peter Kochenburger and Patrick Salve 11 Systemic risk regulation: evolving approaches in insurance 281 Jeremy C. Kress, Patricia A. McCoy and Daniel Schwarcz 12 Competition: the insurance sector and the application of competition law – an overview 308 Edward W. Batchelor 13 Transnational supervisory recognition: a macro-jurisdictional overview 342 Hermann Geiger 14 Prudential supervision: capital standards in a risk-based solvency regime 367 Karel Van Hulle 15 Conduct of business regulation: a survey of the UK regime and a comparison with the US, German, French and Hong Kong approach 404 James Smethurst, Wessel Heukamp, Marc Perrone, Matthew O’Callaghan, Priti Lancaster and John Mulhern 16 Enforcement: a survey of the approaches taken to insurance regulatory enforcement in the United States of America and in the United Kingdom 438 Aviva Abramovsky, Dan D. Kohane, Farhaz Khan KC and Paul Bonner Hughes 17 Lloyd’s: the authorisation of Lloyd’s in the United Kingdom and overseas 467 Julian Burling 18 Lloyd’s: the development of performance management 499 Kevin Lazarus PART III DEVELOPING AREAS OF INSURANCE LAW AND REGULATION 19 Alternative risk transfer: insurance linked securities – their evolution, structures and regulation 523 Joseph Ferraro, Jennifer Tait and David Griffiths 20 Sustainability: the climate and nature crisis – a leadership role for insurance 551 Geoff Summerhayes, Laura Waterford, Nigel Brook, Wynne Lawrencea, and Zaneta Sedilekova 21 Data: the growth of risk-related data in insurance and protecting privacy 590 Brendan McGurk 22 Smart contracts: balancing innovation and consumer protection in insurance law and regulation 621 Miriam Goldby and Jeremmy Okonjo 23 Artificial intelligence: attempts at developing an ethical approach for its use in insurance 647 Anya Prince and Seamus Taylor PART IV REGIONAL STUDIES IN INSURANCE LAW AND REGULATION 24 Europe: the architecture and content of EU insurance regulation 675 Robert Purves 25 USA: A regulatory overview of the world’s largest insurance market 708 John Mulhern, Sara Manske and Robert Mancuso 26 Bermuda: regulating big insurance on a small island 728 Alex Potts KC and Jonathon O’Mahony 27 United Arab Emirates: developing insurance on the Arabian Peninsula 759 Sam Wakerley, John Barlow, Thomas Neighbour and Shane Gibbons HFW 28 China: insurance regulation in a rapidly evolving market 787 Carrie Yang 29 Japan: the insurance concept in the Insurance Act and the Insurance Business Act 810 Seiichi Ochiai, Shinichi Takahashi and Ryoko Takeda 30 The Republic of Korea: an overview of insurance law and regulation 835 Jae Hong Ahn, Partner, Kim, Chang, Sung Woo Huh, Kim Chang and Younghwa Paik Index 856

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Book SynopsisThis astute and comprehensive book provides in-depth analysis of the space sector with an ‘insurance as governance‘ approach. Chapters highlight and examine the key aspects of this important subject including space tourism, risk mitigation and insurance requirements.Considering the role of space insurers working across national boundaries, this book addresses the ability of insurers to fill an existing regulatory void and describes the actions they can take to improve their capability to execute that governance function. The author also gives a fresh and contemporary insight into topics such as the influences of international space law, international air law and US domestic space law. Insightful and discerning, Space Insurance and the Law is ideal for space insurance professionals and those with an interest in space entrepreneurship, international space law and the commercial space industry.Trade Review‘Dr. Harrington has assembled a thorough treatise on space law and insurance, with exceptional detail on the foundations of risk management. Her analysis of insurance as governance, particularly with respect to treaty compliance and national sovereignty explores the details of insurance contracts and their benefits and limitations. Finally, her bibliography and footnotes provide a remarkable resource for students and practitioners alike.’Table of ContentsContents: Preface 1. Introduction to Space Insurance and the Law 2. Insurance as governance in space 3. The state of space insurance 4. International space law as the context for space insurance 5. Air or space? Insurance and the delimitation issue 6. Air law, aviation insurance, and their relevance to space activities 7. Space business and insurance issues in the United States 8. Considerations for new industry groups 9. Governing insurance policies through interpretation 10. Possible innovations for space insurance: mitigating space debris, expanding space domain awareness, and leveraging other forms of insurance 11. Final thoughts Bibliography Index

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Book Synopsis“With the ever increasing number of claims against directors and officers, this book provides a very welcome addition to the bookshelves which hitherto have lacked books on this important area” - Alison Green, Chairman of the Trustees of the BILA Charitable Trust. This book scrutinises the origins and the rationale underlying D&O insurance, and provides answers to the question of protecting directors against the potential liabilities they may face. It provides clear understanding about D&O policies wording, exclusions and issues of misrepresentation. The information contained in this new book includes Nature and Legality of D&O Liability Insurance, D&O Exclusions, Directors’ and Officers’ Liability to Third Parties, Directors’ Liability at Civil Law, D&O: Defence Costs Cover and Allocation, Aggregation Principles and D&O Cover and the Reinsurance of D&O Policies.Table of ContentsChapter 1 Introduction to Liability Insurance Chapter 2 The Nature and Legality of D&O Liability Insurance Chapter 3 Persons Covered by D&O Insurance Chapter 4 D&O Exclusions Chapter 5 Sources of Liability and the Consequential Loss: D&O Covered Risk Chapter 6 Directors' and Officers' Liability to Third Parties Chapter 7 Directors' Liability at Civil Law Chapter 8 D&O Defence Costs Cover and Allocation Chapter 9 The Reinsurance of D&O Policies

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Book SynopsisThe Compendium of Insurance Law consolidates diverse insurance law sources, statutes and codes of practice in one comprehensive volume. Each piece of legislation is supplemented by detailed annotations, which explain the operation and relationship of the legislation with other sources of insurance law. The book is filled with comprehensive coverage of legislation relating to the following areas: regulation, reinsurance, life assurance, property insurance, marine insurance, liability insurance, motor insurance, insurance intermediaries, insurance contracts and competition.Table of Contents1. Regulation of Insurers 2. Reinsurance 3. Life Assurance 4. Property Insurance 5. Marine Insurance 6. Liability Insurance 7. Motor Vehicle Insurance 8. Insurance Intermediaries 9. Insurance Contracts 10. Competition

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Book SynopsisInternational Cargo Insurance examines the law and practice of marine cargo insurance on a worldwide basis, and provides the busy practitioner the information needed to quickly and accurately resolve cargo insurance coverage issues, wherever they may arise.The book concentrates on the law in the United States and England. It then examines other countries with a common law tradition including Hong Kong, Singapore, Japan and Australia. The civil law systems are highlighted in a number of key trading nations: Italy, Germany, France and Norway. The book includes chapters on South Africa as well as the People’s Republic of China. It concludes with a comparative law chapter concentrating on issues that arise in practice in cargo coverage cases. This chapter also examines how the Institute Cargo Clauses have been construed by Courts worldwide.The appendices include the standard cargo policy insurance terms used in each jurisdiction, some translated for the first time for this volume, as well as translations of the relevant statutes and commercial codes, many not available elsewhere.Trade ReviewInternational Cargo Insurance will naturally be consulted by marine insurance lawyers seeking an introduction to the relevant principles and practices prevailing and the relevant sources governing or setting out the position in one of the jurisdictions covered. It will further serve as an indispensable point of departure for those engaged in further attempts at regional or international harmonisation. But it will also be of more than passing interest to lawyers seeking an introduction to the general principles of insurance law in the different jurisdictions. After all, the comparative approach is relevant not only when seeking to harmonise different legal systems, but also when grappling with the reform and the improvement or modernisation of a particular municipal system of law.Congratulations are due, then, to John Dunt and his team of contributors for a project innovatively conceived and splendidly realised.JP van Niekerk, Professor of Law,Department of Mercantile Law, School of Law,University of South Africa.This fascinating work sets out with remarkable clarity, the often misunderstood differences that can exist between jurisdictions, and in turn, their application of law in the interpretation of marine cargo insurance contracts. A work such as this is long overdue, considering as it does the reasons why such alternate positions have developed, despite a publicly voiced desire in many circles for harmonization. The authors who have contributed to this new publication, including John Dunt who also edited this impressive work are all, as the clarity of their advice ably demonstrates, leading marine insurance law luminaries in their own countries. The book discusses how cargo insurance law has developed alongside international trade, and how the difference between common and civil law regimes has impacted the evolution of the law in many important respects.Marine cargo insurance law continues to evolve and this book provides an up to date refresher that will be welcomed by all in need of an accurate understanding of current thinking. An example of this is the recent decision in The Cendor MOPU case. Here the Supreme Court has now seemingly harmonised English Law on inherent vice with the position previously adopted in other regimes. This case rightly receives the careful scrutiny and the concise commentary one has come to expect from John Dunt. With the challenging piracy for ransom situation still prevailing in the Gulf of Aden/Indian Ocean, similar treatment is given to the recent Court of Appeal determination of a number of fundamental issues in Masefield AG v Amlin.For anyone involved in international cargo insurance, the United States remains a vital but sometimes uncertain jurisdiction for cargo interests, with tensions evident between federal maritime law and state law. This issue is helpfully discussed in detail with analysis of Wilburn Boat Co v Firemans Fund Insurance Co. and the impact this has had on important decisions since. Following the clear format used throughout this book, Stephen Rible gives a compelling account of the diverse jurisdiction that the United States can be, and brings considerable authority to the topics under review, with commentary supported by comprehensive case and statute referencing. This is a feature that all contributing authors have mirrored with commendable success.The "adventure", as a concept in marine insurance receives consideration and although not in the same context, "adventure" appropriately sums up the captivating journey awaiting the reader of this seminal work, as we are guided through a variety of legal landscapes and decisions. English law and practice is covered in detail first. This is followed by the positions applying in Hong Kong, Singapore, Japan, Australia, The United States of America, Italy, Germany, France, Norway, The Peoples Republic of China, and South Africa. A final chapter provides the all important comparison analysis summarizing the differences between these jurisdictions as dealt with in detail in earlier chapters. Comprehensive appendices ensure the importance of this book as an essential standalone reference source under John Dunt’s able editorship. A failure to understand the different approaches to contract formation and interpretation of coverage can have serious consequences for the uninformed. The difficulty facing anyone involved with marine cargo insurance though is just how to become acquainted with the many international regimes and the sometimes contradictory positions adopted. Without this understanding, contract certainty is readily undone with the scope for attendant uncertainty, poor decisions and unnecessary disputes.This book goes a long way to remedy that difficulty and will equip the reader with the wherewithal to make informed and appropriate decisions.Peter de Boissiere Global Marine Claims Leader - CargoInternational Cargo Insurance will naturally be consulted by marine insurance lawyers seeking an introduction to the relevant principles and practices prevailing and the relevant sources governing or setting out the position in one of the jurisdictions covered. It will further serve as an indispensable point of departure for those engaged in further attempts at regional or international harmonisation. But it will also be of more than passing interest to lawyers seeking an introduction to the general principles of insurance law in the different jurisdictions. After all, the comparative approach is relevant not only when seeking to harmonise different legal systems, but also when grappling with the reform and the improvement or modernisation of a particular municipal system of law.Congratulations are due, then, to John Dunt and his team of contributors for a project innovatively conceived and splendidly realised.JP van Niekerk, Professor of Law,Department of Mercantile Law, School of Law,University of South Africa.This fascinating work sets out with remarkable clarity, the often misunderstood differences that can exist between jurisdictions, and in turn, their application of law in the interpretation of marine cargo insurance contracts. A work such as this is long overdue, considering as it does the reasons why such alternate positions have developed, despite a publicly voiced desire in many circles for harmonization. The authors who have contributed to this new publication, including John Dunt who also edited this impressive work are all, as the clarity of their advice ably demonstrates, leading marine insurance law luminaries in their own countries. The book discusses how cargo insurance law has developed alongside international trade, and how the difference between common and civil law regimes has impacted the evolution of the law in many important respects.Marine cargo insurance law continues to evolve and this book provides an up to date refresher that will be welcomed by all in need of an accurate understanding of current thinking. An example of this is the recent decision in The Cendor MOPU case. Here the Supreme Court has now seemingly harmonised English Law on inherent vice with the position previously adopted in other regimes. This case rightly receives the careful scrutiny and the concise commentary one has come to expect from John Dunt. With the challenging piracy for ransom situation still prevailing in the Gulf of Aden/Indian Ocean, similar treatment is given to the recent Court of Appeal determination of a number of fundamental issues in Masefield AG v Amlin.For anyone involved in international cargo insurance, the United States remains a vital but sometimes uncertain jurisdiction for cargo interests, with tensions evident between federal maritime law and state law. This issue is helpfully discussed in detail with analysis of Wilburn Boat Co v Firemans Fund Insurance Co. and the impact this has had on important decisions since. Following the clear format used throughout this book, Stephen Rible gives a compelling account of the diverse jurisdiction that the United States can be, and brings considerable authority to the topics under review, with commentary supported by comprehensive case and statute referencing. This is a feature that all contributing authors have mirrored with commendable success.The "adventure", as a concept in marine insurance receives consideration and although not in the same context, "adventure" appropriately sums up the captivating journey awaiting the reader of this seminal work, as we are guided through a variety of legal landscapes and decisions. English law and practice is covered in detail first. This is followed by the positions applying in Hong Kong, Singapore, Japan, Australia, The United States of America, Italy, Germany, France, Norway, The Peoples Republic of China, and South Africa. A final chapter provides the all important comparison analysis summarizing the differences between these jurisdictions as dealt with in detail in earlier chapters. Comprehensive appendices ensure the importance of this book as an essential standalone reference source under John Dunt’s able editorship. A failure to understand the different approaches to contract formation and interpretation of coverage can have serious consequences for the uninformed. The difficulty facing anyone involved with marine cargo insurance though is just how to become acquainted with the many international regimes and the sometimes contradictory positions adopted. Without this understanding, contract certainty is readily undone with the scope for attendant uncertainty, poor decisions and unnecessary disputes.This book goes a long way to remedy that difficulty and will equip the reader with the wherewithal to make informed and appropriate decisions.Peter de Boissiere Global Marine Claims Leader - CargoTable of Contents1. History and Harmonisation, John Dunt 2. Jurisdiction and Applicable Law, John Dunt 3. England, John Dunt 4. Hong Kong, Colin Wright and Caroline Thomas 5. Singapore, Corina Song 6. Japan, Shuji Yamaguchi and John Dunt 7. Australia, Derek Luxford 8. The United States of America, Stephen V. Rible 9. Italy, Francesco Siccardi 10. Germany, Joachim F. Bartels 11. France, Gildas Rostain, Maxime de La Morineri and Marie Buzulier 12. Norway, Trine-Lise Wilhelmsen and Hans Jacob Bull 13. The Peoples Republic of China, Liu Guiming, Liang Jian and Cai Dongdong 14. South Africa, Andrew Robinson 15. Comparative Analysis, John Dunt

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