Published 2010-10-13
Keywords
- piracy,
- Somali pirates,
- marine insurance,
- actual total loss,
- Marine Insurance Act 1906 (UK)
- abandonment,
- constructive total loss,
- bribery,
- perils of the seas,
- 1982 Institute Cargo Clauses (A),
- sue and labour expenses,
- duty of assured clause,
- general average,
- cargo loss or damage ...More
Abstract
This paper contains the slides for Lewins' presentation about piracy, in particular modern Somali piracy and the 'ransom' model used by the pirates against shipowners. Lewins uses the case Masefield AG v Amlin Corporate Member Ltd [2010] 1 Lloyd's Law Reports 509 (Steel J) as a case study into recovery from an insurer by the insured after such an event.