The 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 discussions on what the law should be in order to provide consistency amongst the rules and principles identified, and how solutions to newly emerging issues can be found. The regime applicable in this area is overcomplex. This book will be valuable reading for any lawyer, whether academic, practitioner or student who would like to understand the insurance cover required for compulsory motor vehicle third party liability insurance together with the rationale for adopting such rules and their interpretation by the Courts.

Drone Law and Policy describes the drone industry and its evolution, describing the benefits and risks of its exponential growth. It outlines the current and proposed regulatory framework in Australia, the United States, the United Kingdom and Europe, taking into consideration the current and evolving technological and insurance landscape. This book makes recommendations as to additional regulatory and insurance initiatives which the authors believe are necessary to achieve an effective balance between the various competing interests. The 23 chapters are written by global specialists on crucial topics, such as terrorism and security, airport and aircraft safety, maritime deployment, cyber-risks, regulatory oversight, licensing, standards and insurance. This book will provide authoritative reference and expert guidance for regulators and government agencies, legal practitioners, insurance companies and brokers globally, as well as for major organisations utilising drones in industrial applications.

Construction Insurance and UK Construction Contracts has long been the premier text for legal professionals looking for a combined analysis of construction contracts and their relation to insurance law. In a new and updated third edition, this book continues to provide in-depth commentary and pragmatic advice on all the most important regulations and policies surrounding contracts and insurance in the construction industry. This book covers subjects such as: Minor, intermediate and major project construction contracts Classes of insurance contract The role of insurance brokers Risks in construction and legal liability Professional indemnity insurance and directors' and officers' liability insurance Bonds and insurance Latent defect insurance Property insurance Health and Safety and Construction Regulations Contract Insurance FIDIC, JCT and NEC 3 regulations PFI/PPP projects in the UK Dispute resolution This book is a vital reference tool and practical guide for lawyers and in-house counsels involved in the construction industry as well as project managers, quantity surveyors, construction contractors, architects and engineers needing advice from an experienced legal perspective.

In excess of loss reinsurance, the reinsurer covers the amount of a loss exceeding the policy's deductible but not piercing its cover limit. Accordingly, a policy's quantitative scope of cover is significantly affected by the parties' agreement of a deductible and a cover limit. Yet, the examination of whether a loss has exceeded deductible or cover limit necessitates an educated understanding of what constitutes one loss. In so-called aggregation clauses, the parties to (re-)insurance contracts regularly provide that multiple individual losses are to be added together for presenting one loss to the reinsurer when they arise from the same event, occurrence, catastrophe, cause or accident. Aggregation mechanisms are one of the core instruments for structuring reinsurance contracts. This book systematically examines each element of an aggregation mechanism, tracing the inconsistent usage of aggregation language in the markets and scrutinizing the tests developed by courts and arbitral tribunals. In doing so, it seeks to support insurers, reinsurers, brokers and lawyers in drafting aggregation clauses and in settling claims. Focusing on an analysis of primary sources, particularly judicial decisions, the book interprets each judicial decision to describe a system of inter-related rules, collating, organising and describing the English law of aggregation as applied by the courts and arbitral tribunals. It further draws a comparison between the English position and the corresponding rules in the Principles of Reinsurance Contract Law (PRICL).

Double insurance is an issue which frequently arises in practice. Dr Nisha Mohamed delves into the problems which arise in double insurance and the attempts to provide a solution to the uncertainty of the law in this area. The book begins with a fascinating look at the history and development of the law of double insurance, outlining how it has developed, and the factors the court may take into account when deciding cases involving double insurance. Attempting to provide a common law solution where no legislation has been enacted, the book covers contemporary instances of double insurance by focusing on: the relevant clauses (rateable proportion, excess, escape and other insurance) the difficulty of the courts in providing clear principles in cases of double insurance attempts to limit or exclude liability by the insurer how the clauses work in practice court decisions in various jurisdictions the Australian position under section 45 of the Insurance Contracts Act 1984 whether the Australian position can be adopted in the United Kingdom This text combines practical experience with academic rigour and will be of significant interest to lawyers, academics and insurance industry professionals alike.

The Supreme Court ruling in Global Process System Inc. v Syarikat Takaful Malaysia Berhad (The Cendor MOPU) created a shock wave in the London marine insurance market, as the Supreme Court decision changed the boundaries of doctrine with respect to the meaning of 'perils of the sea' and 'inherent vice'. Both phrases play an important role in the insurance market, affecting both assureds and insurers and their respective interests under all classes of marine insurance policies. This book reviews the origin of the clauses 'perils of the sea' and 'inherent vice' by tracing back through the early cases in order to understand the origin and noting how and why the changes occurred. It will examine how the law has been developed in the recent cases and discuss whether the Supreme Court case The Cendor MOPU has overruled the previous cases in terms of the clauses 'inherent vice' and 'perils of the sea'. Considering the impact of The Cendor MOPU decision with respect to the Marine Insurance Act 1906, as well as the standard Institute Cargo Clauses, it evaluates whether the decision is consistent with these things and discusses the effect of the decision on recent cases and on the insurance market.

This volume focuses on transparency as the guiding principle for insurance regulation and supervisory law. All chapters were written by experts in their respective fields, who address transparency in a wide range of European and non-European jurisdictions. Each chapter reviews the transparency principles applicable in the jurisdiction discussed. While the European jurisdictions reflect different facets of the principle as emerging from EU law on insurance, the principle has developed quite differently in other jurisdictions.

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, UK Enabling 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.

Illegality in Marine Insurance Law is the first book to deal specifically with illegality in the context of marine insurance law. Previously, this issue has only ever been partially covered within analysis and criticism of Section 41 of the Marine Insurance Act 1906 and warranties. However, Dr Wang Feng goes much further than this by considering its impact on the common law relevant to marine insurance in many jurisdictions worldwide. The book addresses whether the existing law represents an accurate codification of the former authorities and whether Section 41 truly reflects existing legal principles. As well as this, the book examines how correctly to approach illegality within the context of marine insurance, considering the fundamental changes to the rule of breach of warranty introduced by the Insurance Act 2015. Of interest to academic researchers and practitioners in common law and civil law jurisdictions, this book provides rigorous analysis of the illegality issue and a conceptual approach for various approaches to reform marine insurance law. It is a unique and comprehensive guide to illegality in marine insurance law.

Important changes have buffeted the insurance industry over the past decade. The 1999 repeal of key provisions of the Glass-Steagall Act unleashed a wave of conglomeration in financial services, as bank holding companies acquired insurance and securities businesses and, to a much lesser degree, insurance companies acquired securities firms and banks. Rivalry within the sector has intensified: insurance companies have developed products that compete directly with the offerings of banks and securities firms and vice versa. In addition, the industry has become increasingly global.

Against this backdrop, pressure has been building for fundamental changes to the structure of insurance regulation in the United States. Despite several court challenges over the years, insurance continues to be regulated by the states. Many insurance companies view state regulation as an increasing drag on their efficiency and competitiveness and support a federal regulatory system. However, powerful stakeholders, including state officials, state and regional insurance companies, and many insurance agents, oppose federal regulation. As a result, proposals to establish an optional federal charter (OFC) for insurance companies and agents remain mired in fierce debate.

The Future of Insurance Regulation in the United States gathers some of the country's leading experts on financial regulation to assess the case for an enhanced federal role in the insurance sector. They pay particular attention to the merits of an OFC and how it might be designed. They also consider the principles that should guide insurance regulatory policies, regardless of the institutional framework, and examine the implications of financial convergence and the internationalization of insurance markets for an optimal regulatory structure.

The debate over insurance regulation has only grown in complexity and intensity since the financial crisis began in the fall of 2008. This book will both inform and help to shape those critical discussions.

Contributors: John A. Cooke (International Financial Services London), Robert Detlefsen (National Association of Mutual Insurance Companies), Martin F. Grace (Georgia State University), Robert W. Klein (Georgia State University), Robert E. Litan (Ewing Marion Kauffman Foundation and Brookings Institution), Phil O'Connor (PROactive Strategies), Hal S. Scott (Harvard Law School), Harold D. Skipper (Georgia State University), Peter J. Wallison (American Enterprise Institute).

The 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. Tennyson

The Chinese insurance market is expanding enormously as risk adversity takes hold in the economy while the role of the State as guarantor of commerce is gradually reduced. In addition, insurance is a heavily regulated field with detailed contract law stipulations. An introduction to regulation and contract law and an understanding of current issues is essential for someone seeking to do business in the Chinese market. Insurance law is also a field that translates well from one jurisdiction to another, and academics will be interested in understanding how issues are dealt with in another jurisdiction. The book seeks to present and discuss current topics in Chinese insurance law and regulation to an English-speaking audience knowledgeable of common law insurance law and international insurance business. The combined effect of the papers is to present Chinese insurance law to an audience unfamiliar with Chinese law, in a readable and accessible essay chapter format. Each chapter is written by an expert in the field and goes beyond a basic introduction to provide in depth well-researched information and academic analysis on the topic in question.

Interest in NFIB v. Sebelius has been extraordinarily high, from as soon as the legislation was passed, through lower court rulings, the Supreme Court's grant of certiorari, and the decision itself, both for its substantive holdings and the purported behind-the-scene dynamics. Legal blogs exploded with analysis, bioethicists opined on our collective responsibilities, and philosophers tackled concepts like 'coercion' and the activity/inactivity distinction. This volume aims to bring together scholars from disparate fields to analyze various features of the decision. It comprises over twenty essays from a range of academic disciplines, namely law, philosophy, and political science. Essays are divided into five units: context and history, analyzing the opinions, individual liberty, Medicaid, and future implications.

This timely research review successfully combines economically-oriented legal scholarship on insurance with policy-relevant economics scholarship on insurance. Professor Schwarcz has selected seminal contributions from the past twenty years to explore some of the central questions involving the role of the state in insurance markets. These include rules governing the interpretation and enforceability of insurance contracts, the regulation of insurers and insurance markets, and the role of public programs in supporting private insurance markets. This essential title will be of immense value and interest to students and academics interested in the diverse field of the law and economics of insurance.

Written from the perspective of the Average Adjuster, and updated to include a detailed analysis of the new rules adopted in 2016, this book is an essential read for practitioners in maritime law and marine insurance. The book contains: historical references regarding the establishment of General Average from Roman Law onwards; details of the establishment of International rules to achieve uniformity in the adjustment of General Average and their development: the Glasgow Resolutions of 1860; the York rules of 1864; and the York-Antwerp Rules 1877, 1890, 1924, 1950, 1974, 1994, 2004 and 2016; a detailed analysis of the York-Antwerp Rules 2016; CMI Guidelines relating to General Average; general average security; general average absorption clauses; and new to this edition: insurance of average disbursements.

Approximately 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 are better drafted and enforceable, as well as assisting in cases of disputed claims. Academics and postgraduate students specialising in the areas of in air and insurance law will also find this book extremely useful.

This book examines policy developments that have been occurring in the field of financial regulation and their implications for the insurance industry and markets. With UK and US contributors from academia and legal practice, this book will be essential reading for policy-makers, insurance regulators, insurance and legal professionals as well as students and academics researching and studying insurance law.

The Chinese insurance market is expanding enormously as risk adversity takes hold in the economy while the role of the State as guarantor of commerce is gradually reduced. In addition, insurance is a heavily regulated field with detailed contract law stipulations. An introduction to regulation and contract law and an understanding of current issues is essential for someone seeking to do business in the Chinese market. Insurance law is also a field that translates well from one jurisdiction to another, and academics will be interested in understanding how issues are dealt with in another jurisdiction. The book seeks to present and discuss current topics in Chinese insurance law and regulation to an English-speaking audience knowledgeable of common law insurance law and international insurance business. The combined effect of the papers is to present Chinese insurance law to an audience unfamiliar with Chinese law, in a readable and accessible essay chapter format. Each chapter is written by an expert in the field and goes beyond a basic introduction to provide in depth well-researched information and academic analysis on the topic in question.

When will we see autonomous vehicles on our roads? The answer is that to some degree, they are already here. Numerous organisations are testing fully autonomous prototypes on public roads in the UK, and even commercially available vehicles already have several 'quasi-autonomous' features. KPMG has forecasted that the connected and autonomous vehicles market could be worth as much as GBP51 billion to the British economy by 2030 and could create some 30,000 new jobs over the same period. Accordingly, the UK and a number of other jurisdictions are already implementing legal reforms with a view to smoothing the path for this technology. Notably, Parliament has passed the Automated and Electric Vehicles Act 2018 dealing with the insurance of such vehicles, and changes are currently being made to the Road Vehicle (Construction and Use) Regulations 1986 and to the Highway Code to accommodate highly automated technologies. The government has also issued non-statutory guidance in relation to testing on public roads, and in relation to vehicle cybersecurity. Against this rapidly changing landscape, this book analyses the key legal issues facing autonomous vehicles, including testing on public roads, insurance, product liability, and cyber security and data protection. It also examines the approach being taken in other jurisdictions, including Austria, Germany, Greece, Italy, the USA, and South Africa.

Chinese 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. At every point the analysis discusses the principles of the Insurance Law in detail, referring where appropriate to decided cases and also drawing attention to external influences. Readers are guided through the complexities of Chinese law in a clear and comprehensive fashion, and - significantly - in a manner that is accessible and meaningful for those used to a common law system. This book presents a comprehensive picture of Chinese insurance contract law, to facilitate a wider understanding of the relevant rules of law. Elements of insurance contract law are critically examined. In addition, this book presents rules of law on some special types of insurance contract, such as life insurance, property insurance, liability insurance, motor vehicle insurance, reinsurance, and marine insurance. The deficiencies and shortcomings of the law and practice will be identified and analysed; suggestions and recommendations on how to reform the law will be presented. Chinese Insurance Contracts also offers legal and practical advice to insurance professionals on how to draft clauses to avoid contractual pitfalls. It also uses cases to illustrate the difficulties which can arise in applying the principles in practice. This book will be essential reading for insurance companies and legal practitioners looking to do business in China, as well as reference for Chinese lawyers practising insurance law. It will also be a useful resource for students and academics studying Chinese law.

Now it its second edition, this book is an authoritative and comprehensive review on all aspects of the law that relate to liability insurance contracts. It aims to cover the all the major types of liability insurance, not just professional indemnity insurance, and presents the issues according to the general principles of contract law. Updated to include the impact of the Insurance Act 2015, the book takes a comparative view of the law, tailored to those professionals operating in a global economy, as well as academics and post-graduate students.

Insurance fraud is a growing problem on a global scale. The ABI estimates that fraudulent insurance claims on motor and household policies alone cost insurers in excess of GBP1 billion every year. This book provides an analysis of the insurance industry's response to the problem and examines fraud from legal and practical perspectives to determine how to manage and reduce fraud. Key issues covered include: fraud in the insurance and reinsurance context, a look at industry-wide initiatives and individual insurance companies' approaches to the problem, consideration of recent legal developments and a look at how insurance fraud is tackled in other jurisdictions. Includes a chapter on marine insurance fraud.

This practical guide offers a useful introduction to reinsurance, taking you step by step through the associated issues you really need to know about. An introduction is provided, setting the scene for further chapters on key topics such as the formation of agreements, terms, rights and obligations. The book covers the following areas: Nature of Reinsurance, Formation of Reinsurance, Agreements, Utmost Good Faith, Terms of Reinsurance Agreements, Rights and Obligations of the Parties, Follow the Settlements and Follow the Fortunes, Claims, Intermediaries, Jurisdiction and Applicable Law, Arbitration.

This handy desk side reference offers a comprehensive guide to insurance law. It will help you gain a thorough grounding of all key aspects of insurance law from the leading legal experts in your industry. Insurance Law: An Introduction provides you with a thorough understanding of: all the main areas from motor, property and financial insurance to marine insurance; the latest case law and best practice with reference to problem areas including fraudulent claims, third party rights against insurers and construing insurance terms; comprehensive guidance on all key areas from the duty of utmost good faith to choice of law and jurisdictional issues. It contains: ten chapters covering the need to know areas of insurance law; one chapter devoted to explaining the nature of insurance; a chapter on subrogation, contribution and reinstatement; and an explanation of measure indemnity and of terms of insurance agreements.

The Insurance Act 2015 ('the Act') is the first comprehensive statutory reform of the insurance law of the United Kingdom since the Marine Insurance Act 1906. It introduces thorough and, in some cases, fairly drastic reform of some of the core tenets of UK insurance law, including: the insured's pre-contractual duty to the insurer, and remedies for its breach; the knowledge of the insured and the insurer for the purposes of the pre-contractual duty; the effect of insurance warranties and other terms tending to reduce the risk of loss; fraudulent claims; and damages for failure to pay an insurance claim in a reasonable time. This book is a thorough introduction to the Act. It focuses primarily on the impact of the Act on English law as applied to non-consumer insurance and reinsurance. Of assistance not only to insurance lawyers and members of the judiciary, but also underwriters, claims handlers, brokers and buyers of non-consumer insurance policies, this book covers each of the core changes brought about by the Act. It also analyses the particular ways in which the Act differs from existing law, by reference to the Marine Insurance Act 1906, and cases decided under the old law.