The anachronism in maritime law that is general average

The concept of general average is of great antiquity. It has fruitfully served the maritime community of the last two millennia, but the justification for its continued existence in the 21st century is questionable. This article examines the proposition that general average is an anachronism and should be abolished — a cry that has been heard for well over a hundred years but has failed to materialise. In the article, the arguments for retaining general average are marshalled alongside the demands for its demise. Current developments in the revision of the York-Antwerp Rules are discussed. In conclusion, the resilience of general average as an age-old equitable maritime principle is recognized. But the author points to the sophistication in the modern regime of marine insurance in support of discarding general average and allowing maritime losses to lie where they fall; to be indemnified independently by the insurer of each interest in a maritime adventure without contribution from co-adventurers or their insurers.

Language

  • English

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Filing Info

  • Accession Number: 01609254
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Jun 16 2016 9:17AM