GENERAL AVERAGE AND INSURANCE

The author analyses the most important institute of maritime law. General average is regulated by the law and contracts in maritime as well as inland navigation. Important elements of general average are discussed: act where extraordinary sacrifice or expenditure is voluntary made and incurred in the time of peril forthe purpose of preserving the property imperilled in the common venture. Particular attention was paid to the relationship between general average and maritime salvage.
Insurance solutions are presented by introducing institute insurance clauses of London underwriters.
Harmonization of the Law of General Average is crucial. It is important to acknowledge that Serbia proposed that Pan-European Rules on General Average should be enacted. Rhine Rules IVR 2006 should be acknowledged. In this respect, it is important to note that Rhine Rules have been largely adopted by the commercial community, ship and cargo owners as well as insurers.