The Builders' risks insurance: a comparative study under English and Italian law

Prompted by the recent release in the United Kingdom of the new set of standard insurance clauses ‘London MarCAR 2007 (Marine Construction All risks) 01/09/07’ for the coverage of risks related to ship construction (and repair) projects – clauses which are supposed to start off as an alternative option to, but that can be reasonably expected to replace before long, the well known but highly criticized set of builders’ risks clauses utilized in the market in the last two decades – the thesis analyzes the main dogmatic and practical issues arising in connection with insurance contracts for the coverage of shipbuilding-related risks. After clearing out any reservation with respect to the possibility of classifying the insurance type at issue within the area of marine insurance, the thesis emphasizes the extent to which English marine insurance practice (which shall be meant to encompass also the judicial interpretation and application of the insurance terms and conditions set forth in the standard sets of clauses) influences and affects the Italian one and flags out the reasons why this happens and the possible issues that the same can bring about. Without the links between builders’ risks insurance and shipbuilding contract being overlooked – especially having regard to the most commonly utilized shipbuilding contract standard forms, as well as to the new BIMCO “Newbuildcon” standard form – the core of the thesis focuses on an in-depth study of the terms and conditions set out in the ‘Institute Clauses for Builders’ Risks (1/06/88)’ - i.e., the most common set of standard clauses elaborated by the Institute of London Underwriters nearly twenty years ago for the coverage of shipbuilders’ risks and usually incorporated either in English or Italian insurance policies to achieve such cover with respect to ship (or other seaborne crafts or similar objects) under construction – and in the standard form called ‘London Marine Construction All Risks (1/09/07)’ released in the last quarter of year 2007 by the International Underwriting Association of London. As far as the 2007 standard form is concerned, the thesis performs a thorough analysis as to why it has been devised, which objectives the same is intended to achieve and its main distinguishing features in comparison with the previous set of terms and conditions for builders’ risks insurance enshrined in the 1988 clauses and, on such basis, the thesis sets out a preliminary and tentative evaluation as to the likelihood of the new set of builders’ risks insurance clauses to address successfully the shortcomings encountered in connection with the previous ones and, more generally, to be adequate to cater for the unique features of modern shipbuilding.

Prendendo spunto dalla recente pubblicazione nel Regno Unito del nuovo formulario di assicurazione ‘London MarCAR 2007 (Marine Construction All risks) 01/09/07’ per la copertura dei rischi connessi alla realizzazione di progetti di costruzione (e riparazione) navale, destinato ad affiancarsi – e sembra lecito anticipare, sostituirsi – al collaudato, ma criticato, formulario in uso da circa due decenni nel mercato assicurativo, la tesi esplora le principali problematiche, tanto di carattere dogmatico, quanto di natura pratica-applicativa, connesse all’assicurazione delle navi in costruzione. Sgombrato il campo da ogni dubbio circa il carattere marittimo della tipologia di assicurazione in esame, la tesi mette in luce l’impatto e la rilevanza della prassi assicurativa inglese – da intendersi in senso lato e comprensiva, pertanto, anche della interpretazione ed applicazione delle condizioni speciali di polizza da parte della giurisprudenza anglosassone – su quella italiana, evidenziandone le ragioni e le possibili criticita’. Non tralasciando di considerare il nesso tra l’assicurazione dei rischi costruzione navale ed il contratto di costruzione di nave – avendo riguardo, in particolare, ai formulari di contratto piu’ frequentemente utilizzati, nonche’ al nuovo formulario BIMCO “Newbuildcon” – una parte sostanziale della tesi e’ dedicata all’analisi delle ‘Institute Clauses for Builders’ Risks (1/06/88)’ - clausolario prodotto venti anni or sono dall’Institute of London Underwriters e utilizzato unitamente a polizze inglesi o italiane per la copertura dei sinistri che possono verificarsi nel corso della costruzione di navi (o altri galleggianti) - e della sua recente riedizione ad opera dell’International Underwriting Association of London mediante la pubblicazione delle sopra menzionate clausole ‘London Marine Construction All Risks (1/09/07)’. Di quest’ultimo formulario la tesi illustra diffusamente la genesi, gli obiettivi e le principali differenze rispetto al predecessore e ne propone una preliminare valutazione con riguardo sia alla capacita’ di rispondere alle difficolta’ emerse nell’applicazione del precedente (e tuttora utilizzato) clausolario, sia, piu’ in generale, alla sua adeguatezza nel nuovo panorama della cantieristica mondiale.