Data on Law and Economics Published by a Researcher at Symbiosis International (Deemed University) (Impact of Policy Wordings on Imposition of Liability in Marine Insurance in India): Economics – Law and Economics

2023 SEP 26 (NewsRx) -- By a News Reporter-Staff News Editor at NewsRx Policy and Law Daily -- Researchers detail new data in law and economics. According to news originating from Maharashtra, India, by NewsRx correspondents, research stated, “Specific clauses used in marine insurance policies and the wordings thereof have an impact on the imposition of liability on the insurer.”

The news editors obtained a quote from the research from Symbiosis International (Deemed University): “Such an impact can be proved by establishing that there is a statistically significant relationship between the two variables, and the extent of influence can be measured by examining the correlation between them. This paper limits the scope of such an examination to marine insurance claims in India regarding breach of warranties, representation, and disclosure requirements. The authors have selected the marine hull policies of public insurance companies that have been subject to such litigation and have used Fisher’s Exact Test to determine whether there is a statistically significant relationship between imposition of liability on the insurer and the policy used.”

According to the news editors, the research concluded: “Upon finding a statistically significant relationship, the policies and cases arising therefrom were examined in detail. The comprehensiveness of certain clauses of some policies, as well as the absence of these clauses in other policies, has directly contributed to the imposition of liability on the insurer in certain cases, leading to the conclusion that modification of certain clauses and addition of others could reduce rates of imposition of liability on the insurer.”

For more information on this research see: Impact of Policy Wordings on Imposition of Liability in Marine Insurance in India. Asian Journal of Law and Economics, 2023,0(0). The publisher for Asian Journal of Law and Economics is Walter de Gruyter GmbH.

A free version of this journal article is available at https://doi.org/10.1515/ajle-2023-0013.

Our news journalists report that additional information may be obtained by contacting Nithyashree Venkataraman, Symbiosis Law School, Symbiosis International (Deemed University), Viman Nagar, 411014 Pune, Maharashtra, India. Additional authors for this research include Lasya Vyakaranam.

ORCID is an identifier for authors and includes bibliographic information. The following is ORCID information for the author of this research: Lasya Vyakaranam (http://orcid.org/0000-0001-7657-1422).

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