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Who has to prove that the loss has occurred within a period covered by the cargo insurance contract?

The Institute Cargo Clauses (ICC) drafted by the Institute of London Underwriters (ILU) on the 1st January 1982 and amended by the International Underwriting Association of London (IUA) and Lloyds Market Association (LMA) on 1st January 2009, are widely applied by underwriters internationally. The main difference between the Institute Cargo Clause (A) and the (B) and (C) clauses is that…

Cargo, Burden of proof, insurance, period of coverage Author: Aramayis Galichyan

The concept of insurable interest under the English, Armenian and Russian legal frameworks

In our recent article we examined the nature of insurable interest in the English legal system, one of the conclusions being that an insurable interest is not necessarily a proprietary right in the subject matter insured. In this article we will consider the nature of insurable interest under the Armenian and Russian legal systems which have many similarities. Armenian law…

Insurable interest, legal, property insurance, Russian Law, Armenian law, English law Author: Aramayis Galichyan

The implications of late notification on insurance claims

Late notice of claims to insurers is one of the most common sources of breach of insurance contracts. The reasons of failure to give timely notice to insurers vary from carelessness to force majeure. The consequences, however, vary depending on: The status of the notification condition, i.e. whether the condition of timely notification is precedent to the insurer’s liability to…

Late Notification, Insurance, Conditions Precedent, Breach of Conditions Author: Aramayis Galichyan