The Experts below are selected from a list of 2934 Experts worldwide ranked by ideXlab platform
Christopher Kingston - One of the best experts on this subject based on the ideXlab platform.
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Marine Insurance in philadelphia during the quasi war with france 1795 1801
The Journal of Economic History, 2011Co-Authors: Christopher KingstonAbstract:Until the 1790s Marine Insurance in the United States was organized by brokers and underwritten by private individuals. Beginning in 1792, however, the private underwriters had to compete with newly formed Marine Insurance corporations. Each organizational form had advantages and disadvantages. This article uses archival data from a private underwriter and a corporation to study how the competition between these different organizational forms was affected by a powerful exogenous shock which substantially increased the risks to American merchant shipping in the late 1790s: the “Quasi-War” between the United States and France.
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Marine Insurance in Philadelphia During the Quasi-War with France, 1795–1801
The Journal of Economic History, 2011Co-Authors: Christopher KingstonAbstract:Until the 1790s Marine Insurance in the United States was organized by brokers and underwritten by private individuals. Beginning in 1792, however, the private underwriters had to compete with newly formed Marine Insurance corporations. Each organizational form had advantages and disadvantages. This article uses archival data from a private underwriter and a corporation to study how the competition between these different organizational forms was affected by a powerful exogenous shock which substantially increased the risks to American merchant shipping in the late 1790s: the “Quasi-War” between the United States and France.
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The development of Marine Insurance institutions, 1350-1850
2011Co-Authors: Christopher KingstonAbstract:From its origins in the fourteenth-century Italian city-states, the practice of Marine Insurance, and its associated governance institutions, spread throughout western Europe and later to America. This paper describes the long-run historical development of Marine Insurance institutions, and considers implications for theories of institutional change. What role did legal and non-legal governance institutions play, and how did they evolve? How did the international nature of the market affect this evolution, and how much influence did rulers, bureaucrats, lawmakers and courts have on institutional development? What drove the choice of organizational form, and how did the use of particular forms spread?
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Marine Insurance in Britain and America, 1720-1844: A Comparative Institutional Analysis
The Journal of Economic History, 2007Co-Authors: Christopher KingstonAbstract:This article examines how the Marine Insurance industry evolved in Britain and America during its critical formative period, focusing on the information asymmetries and agency problems that were inherent to the technology of overseas trade at the time, and on the path-dependent manner in which the institutions that addressed these problems evolved. I argue that the market was characterized by multiple equilibria because of a potential lemons problem. Exogenous shocks and endogenous institutional development combined to bring about a bifurcation of institutional structure, the effects of which persist to the present day. M arine Insurance played a vital role in facilitating the expansion of trade during the eighteenth and early nineteenth centuries, but the industry developed in different ways in different countries. By the midnineteenth century, the British Marine Insurance market was dominated by Lloyd's of London, a marketplace where private individuals risked their personal fortunes by insuring vessels and cargoes with unlimited liability. In contrast, in the United States, private underwriting had virtually disappeared, and Marine Insurance was predominantly carried out by joint-stock corporations. To account for the success of private underwriting in Britain and its demise in the United States, I focus on the information asymmetries and agency problems that were inherent to the technology of overseas trade at the time, how institutions arose to address these problems, and how exogenous and endogenous changes in the political, legal, and economic environment affected the evolution of these institutions over time. Broadly, the argument is as follows. In Britain, the Bubble Act of 1720 temporarily limited the development of Marine Insurance corporations, thereby enabling Lloyd's coffee house to develop as a center where individual private underwriting could flourish. Lloyd's became a
Wang Xin - One of the best experts on this subject based on the ideXlab platform.
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Implications of the New Insurance Law for Marine Insurance Contract
Journal of Dalian University of Technology, 2011Co-Authors: Wang XinAbstract:As a general principle,Article 184 of the new Insurance Law shall be referred to determine the issue of application of the Maritime Code or the Insurance Law.However,the controversies still frequently occur in the context of specific disputes.On the basis of comparison between several provisions in the new Insurance Law and the corresponding legal regimes of Marine Insurance contract,this article discusses the implications of the Insurance Law for disputes of Marine Insurance contract.It is argued that the insurer's right of repudiating Insurance liability shall not be sustained unless its right to terminate contract is effectively exercised,the Maritime Code provision that the insured may not demand termination of contract for Marine voyage Insurance after attachment of cover shall not apply to the insurer,and in the light of the new provision of the Insurance Law relevant special conditions shall be added in the Maritime Code for qualifying the third party's direct claim right against Marine liability insurers.
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Application of Utmost Good Faith in the Performance of Marine Insurance Contract
Annual of China Maritime Law, 2002Co-Authors: Wang XinAbstract:The principle of utmost good faith is a basic principle of Marine Insurance law. This paper has discussed the contents of utmost good faith when a Marine Insurance contract is performed under Chinese law against the background of English law.
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On the Legal Consequence of Breach of Warranty in Marine Insurance
Annual of China Maritime Law, 2001Co-Authors: Wang XinAbstract:In Chinese Marine Insurance practice, a warranty is referred to as "a special term in the policy", and the rule of warranty in Chinese Marine Insurance law originated from English law. Under Chinese law, warranty is a particular regime only existing in Chinese Maritime Code (CMC). Further, there is only one Article 235 that provides for warranty in CMC. This paper discusses the legal consequence of breach of warranty under existing Chinese law, and put, forward, the opinion in this respect.
Portia Ndlovu - One of the best experts on this subject based on the ideXlab platform.
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South African Marine Insurance law : the current state of our draft Marine Insurance bill and the effect of its promulgation on the South African Marine Insurance industry : notes
2008Co-Authors: Portia NdlovuAbstract:In 1997 a draft proposal for a Marine Insurance Act was prepared as a new South African statute in response to a call for the development of Marine Insurance by legal practitioners, academics, various members of the Maritime Law Association and other members of various Marine Underwriting bodies (the draft bill was redrafted in 1997 by its main draftsman Adv Douglas Shaw QC).
Xu Mei-fang - One of the best experts on this subject based on the ideXlab platform.
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Review on the Implications of China’s Entry into the WTO on Shanghai Marine Insurance
World Trade Organization Focus, 2011Co-Authors: Xu Mei-fangAbstract:Firstly, the article reviews the history of Shanghai Marine Insurance development. It finds that the impacts on Shanghai Marine Insurance for WTO are Insurance supply and Insurance demand and Insurance function. The report analyzes the problems of function and structure in the Insurance market, and then makes some suggestions.
Howard Bennett - One of the best experts on this subject based on the ideXlab platform.
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Reading Marine Insurance contracts: determining the scope of cover
Asia Pacific Law Review, 2019Co-Authors: Howard BennettAbstract:The scope of cover under Marine Insurance policies is delineated by a combination of express insuring clauses specifying covered risks together with limitations on cover either express in the polic...
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Fortuity in the law of Marine Insurance
Lloyd's Maritime and Commercial Law Quarterly, 2008Co-Authors: Howard BennettAbstract:This article addresses the meaning and significance of the concept of fortuity within the law of Marine Insurance. Voluntary conduct, naturally occurring losses and inherent vice, and inevitable losses are analysed, highlighting both the variable role and varied meanings of fortuity and considering the extent to which fortuity represents a presumption as to the interpretation of Insurance contracts or an absolute restriction on the scope of Insurance.