- Electronic commerce and choice of law — Loss of cargo and damages — Documents — Contracts and insurance — Policies of insurance
This chapter explores the legal framework to govern electronic cargo insurance documents. Through the promulgation of guidelines and standard terms, and the expression of common understandings, the insurance industry is developing an informal legal framework for the governance of the use of electronic communications and electronic documentation. Brokers can provide a wide range of electronic services to their clients, for example the generation online of automatic quotes, when the details of the relevant shipment are entered, and the issuance of electronic documentation, once the cover is agreed. As regards the placing process whereby the broker enters into an insurance contract with an underwriter, there is an important distinction between the subscription market, in which the cargo insurance risk is subscribed to by a number of different underwriters, and the non-subscription market, in which risks are typically underwritten by a single insurer.
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