Article by Donald T. Rave, Jr. and Stacey Tranchina
One noted author has stated that marine insurance is “the oldest form of indemnity of which there is any record.” This seems logical considering ships provided the sole means of travel and transportation of goods at the inception of global ventures and commercial transactions. Britain, as her fleet was the largest in the Old World, emerged as a leader in the development of the law concerning marine insurance. Today, British marine insurance cases continue to play a significant role in the development of marine insurance law in the United States.
Marine insurance encompasses many diverse risks within its basic classes of coverage. These include hull, cargo, freight, and marine liabilities. This Article will focus on the subject of cargo insurance and will explore issues concerning some of the clauses contained in typical cargo policies, courts' interpretation of the coverage provided thereunder, and various elements necessary to obtain a recovery under a cargo policy.
About the Author
Donald T. Rave, Jr.; Stacey Tranchina. The authors are, respectively, partner and associate at the law firm of Bigham, Englar, Jones & Houston, New York, New York.
Citation
66 Tul. L. Rev. 371 (1991)