Articles

Passage of risks and ownership - international trade

The question of the exact time when ownership and risks of loss of or damage to goods pass from sellers to buyers is determined by international and national legal acts and contracts. The determination of the time when risks and ownership pass from an international seller of goods to a buyer is important both for assessing the liability exposure of…

Marine, Bill of Lading, Cargo, Passage of Risks and Ownership Author: Aramayis Galichyan

Insurable interest - cargo and property insurance

Insurable interest is one of the fundamental principles in insurance, which conveys the main mission of insurance: to compensate insureds for insured losses. For an insured to be entitled to compensation, the condition of insurable interest in the subject matter of insurance has to be met. Furthermore, the absence of insurable interest may invalidate the insurance contract and make it…

Insurance, Insurable Interest, Property Insurance, Cargo, Marine, Risks Author: Aramayis Galichyan