Summary of INSROP Working Paper No. 1-1994, IV.3.3: Marine Insurance for the Northern Sea Route - Pilot Study.

 

By Diana L. Torrens, Mc Innes, Cooper & Robertson, Barristers & Solicitors, Halifax, Canada.

 

The report Marine Insurance for the Northern Sea Route constitutes a preliminary study. It is not intended to be a final, definitive word on marine insurance as it should be applied to the Northern Sea Route (NSR), but should rather be regarded as an initial contribution to what will be a dynamic and continuously-evolving process over the coming years.

 

The report begins with a description of the NSR region, including ice and ice patterns, seasons, bathometry, environmental factors and so on. The Russian legal and administrative framework is then examined, with a view to giving non-Russians an insight into the principal regulatory measures affecting navigation in the NSR. Three chapters on hull, cargo and Protection and Indemnity (P&I) follow, each offering perspectives on how these forms of insurance would have to be adapted and reworked so as to be usable in the NSR context. A concluding chapter contains conclusions and recommendations, intended as subject-matter for discussion by interested parties. Also included are a number of maps and tables, aimed at facilitating the reader's understanding of what for many is, literally, uncharted waters. A bibliography provides further references for anyone wishing to pursue particular points further.

 

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