Original scientific paper
Duration of the Insurance under Institute Cargo Clauses (2009)
Ranka Petrinović
; Pomorski fakultet u Splitu, Sveučilište u Splitu
Ivana Lovrić
; Pomorski fakultet u Splitu, Sveučilište u Splitu
Abstract
Institute Cargo Clauses, 2009. are amended Institute Cargo Clauses, 1982. The former clauses needed revision for several reasons: the emergence of new risks, the need of adapting the cargo insurance terms to the changes in modern transportation system and the need to update their language and terminology thereof. The new Clauses introduce a whole series of solutions that modernised those provided by Marine Insurance Act, 1906. and I.C.C., 1982. By new terms the editors strived to formulate clauses as clearly as possible aiming to avoid possible uncertainties and ambiguity in their interpretation. Abandonment of the ˝warehouse to warehouse˝ concept of the insurance period is one of the most significant changes introduced. That concept proved to be inappropriate for the contemporary needs and thus replaced with the ˝from the shelf to unloading˝ concept of the insurance. In conclusion, the implemented changes are in the interest of both contractual parties. The new Clauses are enhanced legislation in respect to the I.C.C., 1982. Therefore, it is expected that they will be adopted in global and home insurance practices.
Keywords
Institute Cargo Clauses; duration of the insurance; “warehouse to warehouse”; “shelf to unloading”
Hrčak ID:
89775
URI
Publication date:
31.10.2012.
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