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Law Of International Insurance contracts - Essay Example

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Insurance protects the individual or entity from devastating loses which can occur through accidents and other relatively uncommon yet events devastating events (Gollier, 2003). To be insurable, the risk insured must meet certain criteria including the nature of the incident and…
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Law Of International Insurance contracts
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Law Of International Insurance contracts

Download file to see previous pages... The Convention recognized the inherent risks of the aviation industry, thus, it seek to protect the airline companies by putting limitations on its liabilities towards it passengers and cargo.
To strike a balance between protecting the interest of the airline companies and protecting the welfare of the passengers, the framers of the Warsaw Convention 1929 instituted provisions that define the certain terms. Section 17 of the Warsaw convention specifically said that,
“The carrier is liable for damage sustained in the event of the death or wounding of a passenger or any other bodily injury suffered by a passenger, if the accident which caused the damage so sustained took place on board the aircraft or in the course of any of the operations of embarking or disembarking. “
The definition of “accident” according to the Warsaw Convention has been the subject of many debates and arguments in and outside of the courts for several years. In settling arguments, the courts have defined the word “accident” in many decided cases both in the United States and the in the United Kingdom. To get a clearer picture of how the courts define the word “accident” and how this definition has affected the insurable interests of aircrafts and their passengers, let us take a closer look at the leading cases decided by the Courts.
The definition of the word “accident” in the airline industry is the same in both the United States and the United Kingdom. Note that the Warsaw Convention was meant to establish a uniform liability of airline companies towards their passengers thus, the courts, in defining the word “accident” according to Article 17 of the convention, adopt a more or less interpretation.
According to the provisions of the Warsaw Convention, it is not enough that the carrier failed to convince the court that it took all necessary ...Download file to see next pagesRead More
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