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E-Thesis 540 views 965 downloads

The formation of insurance contract in London market. / Jinlei Zhang

Swansea University Author: Jinlei Zhang

Abstract

The processes involved in the formation of a marine insurance contract are different from the processes by which other types of contracts are formed. The formation of insurance contracts in London Market typically takes the following course: a prospective assured who is seeking the insurance cover a...

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Published: 2008
Institution: Swansea University
Degree level: Doctoral
Degree name: Ph.D
URI: https://cronfa.swan.ac.uk/Record/cronfa42399
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last_indexed 2018-08-03T10:10:02Z
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recordtype RisThesis
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spelling 2018-08-02T16:24:29.0881900 v2 42399 2018-08-02 The formation of insurance contract in London market. 608f2bb849e4a5961961c55dbd55cbff NULL Jinlei Zhang Jinlei Zhang true true 2018-08-02 The processes involved in the formation of a marine insurance contract are different from the processes by which other types of contracts are formed. The formation of insurance contracts in London Market typically takes the following course: a prospective assured who is seeking the insurance cover approaches a Lloyd's accredited broker. The broker prepares the slip and takes it around the market seeking subscriptions. Then the underwriter, who wishes to participate in the insurance, will initial the slip, stating the percentage and the proportion of the risk he is prepared to underwrite. Once the broker has obtained the desired level of subscriptions, the slip is closed. A formal policy is frequently issued later. In general, the formation of a contract of marine insurance is governed by the ordinary principles of contract law. The purpose of this thesis is to analyse the application of contract law principles to the legal issues that arise at the formation stage in marine insurance contracts and to investigate whether these principles are suitable to dealing with the practical difficulties that arise in the London insurance market. The main body of the thesis is divided into three parts. The first part is about the legal issues arising before the marine insurance contract is concluded. The second part concentrates on the insurance broker who is playing a significant role during the process of contract formation. Legal issues on the duties, rights and liabilities of the insurance broker will be discussed. The third part focuses on legal issues arising after the marine insurance contract is concluded. Although the issues to be discussed arise in the post-contractual stage, they can often be traced to the processes involved at the formation stage. E-Thesis Law. 31 12 2008 2008-12-31 COLLEGE NANME Law COLLEGE CODE Swansea University Doctoral Ph.D 2018-08-02T16:24:29.0881900 2018-08-02T16:24:29.0881900 Faculty of Humanities and Social Sciences Hilary Rodham Clinton School of Law Jinlei Zhang NULL 1 0042399-02082018162451.pdf 10798107.pdf 2018-08-02T16:24:51.3330000 Output 5834392 application/pdf E-Thesis true 2018-08-02T16:24:51.3330000 false
title The formation of insurance contract in London market.
spellingShingle The formation of insurance contract in London market.
Jinlei Zhang
title_short The formation of insurance contract in London market.
title_full The formation of insurance contract in London market.
title_fullStr The formation of insurance contract in London market.
title_full_unstemmed The formation of insurance contract in London market.
title_sort The formation of insurance contract in London market.
author_id_str_mv 608f2bb849e4a5961961c55dbd55cbff
author_id_fullname_str_mv 608f2bb849e4a5961961c55dbd55cbff_***_Jinlei Zhang
author Jinlei Zhang
author2 Jinlei Zhang
format E-Thesis
publishDate 2008
institution Swansea University
college_str Faculty of Humanities and Social Sciences
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hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str Hilary Rodham Clinton School of Law{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}Hilary Rodham Clinton School of Law
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description The processes involved in the formation of a marine insurance contract are different from the processes by which other types of contracts are formed. The formation of insurance contracts in London Market typically takes the following course: a prospective assured who is seeking the insurance cover approaches a Lloyd's accredited broker. The broker prepares the slip and takes it around the market seeking subscriptions. Then the underwriter, who wishes to participate in the insurance, will initial the slip, stating the percentage and the proportion of the risk he is prepared to underwrite. Once the broker has obtained the desired level of subscriptions, the slip is closed. A formal policy is frequently issued later. In general, the formation of a contract of marine insurance is governed by the ordinary principles of contract law. The purpose of this thesis is to analyse the application of contract law principles to the legal issues that arise at the formation stage in marine insurance contracts and to investigate whether these principles are suitable to dealing with the practical difficulties that arise in the London insurance market. The main body of the thesis is divided into three parts. The first part is about the legal issues arising before the marine insurance contract is concluded. The second part concentrates on the insurance broker who is playing a significant role during the process of contract formation. Legal issues on the duties, rights and liabilities of the insurance broker will be discussed. The third part focuses on legal issues arising after the marine insurance contract is concluded. Although the issues to be discussed arise in the post-contractual stage, they can often be traced to the processes involved at the formation stage.
published_date 2008-12-31T04:20:57Z
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score 11.089718

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