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Some Misleading Influences On The Reading Of Reinsurance Contracts: A Plea For Express Intent, Graydon S. Staring
Some Misleading Influences On The Reading Of Reinsurance Contracts: A Plea For Express Intent, Graydon S. Staring
Graydon S. Staring
Reinsurance is a business of transactions that cross national and state boundaries in great numbers and great values measured by premiums, risks and recoveries. It has very old roots as an innovative market free of control by any single nation, responsive to the intentions of parties and governed by the usages and ethical understandings of its principals inherited as part of international commercial practice. It is important that the intentions represented in its contracts be understood in whatever venue they are questioned to the same effect as they were to those who negotiated them. Although this laudable aim will occasionally …
Mixed Policies And Separability After Folksamerica, Graydon S. Staring
Mixed Policies And Separability After Folksamerica, Graydon S. Staring
Graydon S. Staring
The Kirby decision by the Supreme Court in 2004 is a landmark in admiralty jurisdiction of contracts with both marine and non-marine elements. The Folksamerica decision by the Second Circuit, the insurance case that follows it in 2005, is a distinctly important precedent requiring additional analysis from case to case in applying the new standard to insurance policies. The old prescription that maritime contracts be purely maritime with its exception for merely incidental non-maritime elements is overruled. Contracts apparently mixed are to be examined to determine whether their principal objective is to effectuate maritime commerce, and if so they are …