How well versed are you in marine insurance? It may not be a field of study you think about very often, but it is crucial for anyone in the shipping industry. Marine insurance law may seem complicated, but it can be understood with a simple introduction to the basic concepts.
Marine insurance expert Bahaeddin Saffarini provides exactly that in his new book,
The Marine Insurance Handbook
. He covers English maritime law and the many articles and clauses that relate to marine insurance. Saffarini includes everything a marine underwriter or claims manager needs to know to do his or her job.
Saffarini focuses on cargo and hull insurances, as well as information about reinsurance practices and marine loss adjustment.
Saffarini outlines the articles of the Marine Insurance Act 1906, which he calls the bible of marine insurance. He brings insurance law into the modern day with a comparison of the 1982 and 2009 cargo clauses.
He also includes information about fraud, letters of credit, and protection and indemnity clubs. Marine insurance can be confusing owing to the many different types of vessels and commodities involved, but Saffarini makes it easy to understand by condensing all the information into this simple guide.