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2018 | OriginalPaper | Buchkapitel

Legal Regime of Marine Insurance in Arctic Shipping: Safety and Environmental Implications

verfasst von : Proshanto K. Mukherjee, Huiru Liu

Erschienen in: Sustainable Shipping in a Changing Arctic

Verlag: Springer International Publishing

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Abstract

The primary driver of Arctic shipping and maritime operations is the development of natural resources in the Arctic. The melting of Arctic sea ice as a result of global warming and climate change is providing greater maritime access and potentially longer navigation seasons. This combined with advancements in ice-breaking technology benefitting commercial carriers are translating into shorter sea routes and reduced shipping costs. This chapter is concerned with safety and environmental implications of insurability and indemnifiability of enhanced Arctic shipping risks attributable to the presence of ice. The specific focus is on examination of relevant provisions in marine insurance contracts subject to English marine insurance law and the Nordic Marine Insurance Plan (NMIP). The discussion begins with a synoptic overview of the fundamental principles of marine insurance and then moves on to the regulatory dimension of Arctic shipping as manifested in the IMO Polar Code. Whether a violation of the Code leads to a potential breach of the implied warranty of seaworthiness entrenched in the UK Marine Insurance Act 1906 (MIA) operating through the Institute warranties is examined together with the corresponding elements in the NMIP regime. A comparative analysis is carried out of the MIA and Institute Clauses and Warranties on the one hand, and the NMIP legal framework on the other, which includes premium considerations, and ice class and notification requirements. The environmental implications for Arctic shipping are examined through the concept of protection and indemnity (P&I) insurance focusing on compulsory cover for third party liability required under relevant ship-source pollution conventions. Finally, the emerging concept of environmental salvage particularly in relation to Arctic waters is discussed peripherally.

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Vorheriges Kapitel Arctic Strategies of the EU and Non-Arctic States: Identifying Some Common Elements

Nächstes Kapitel Arctic High Seas Governance of Biodiversity

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Titel: Legal Regime of Marine Insurance in Arctic Shipping: Safety and Environmental Implications
verfasst von: Proshanto K. Mukherjee
Huiru Liu
Verlag: Springer International Publishing
Buch: Sustainable Shipping in a Changing Arctic
Print ISBN: 978-3-319-78424-3

Electronic ISBN: 978-3-319-78425-0

Copyright-Jahr: 2018
DOI: https://doi.org/10.1007/978-3-319-78425-0_12

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