Insuring Cargoes - A Practical Guide to the Law and Practice 2023, 2nd Edition

K.S. Vishwanath

This 527-page book on cargo insurance contains an exhaustive commentary on the current Institute and trade clauses, important case laws, the Insurance Act 2015, Incoterms Rules 2020, insurable interest and the need for reforms, contingency covers and possible gaps in coverage, a critical look at open covers, etc.

There are two chapters on claims, including proximate/concurrent causes, burden of proof, treatment of rate of exchange fluctuation, higher cost of repairs by OEM, reinstatement of manufacturers’ warranty, TPND, piracy, replacement clauses, etc.

Insuring Cargoes becomes the only book to devote complete chapters to rejection risks, contract certainty, delay and inherent vice, non-Institute (broker) clauses, physical versus non-physical losses, and recoveries. A very detailed list of documents for partial and total loss claims involving general/dry bulk/liquid bulk is another useful addition to the second edition.

The book offers a practical insight into marine cargo insurance and introduces new ideas and concepts, all of which will go a long way in issuing policies free of ambiguities and ensuring fair outcomes in the case of claims. Every concept is well illustrated with practical examples.