By Geoffrey N Hudson, Tim Madge, Visit Amazon's Keith Sturges Page, search results, Learn about Author Central, Keith Sturges,
The re-creation of Marine coverage Clauses displays quite a few adjustments and additions to the coverage clauses, and especially the hot kind of the agency entitled the foreign Underwriting organization of London in 2002. the hot variation will carry you modern with the current complicated and occasionally complicated diversifications in coverage conditions.
Part of the Maritime and shipping legislations Library.
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Extra info for Marine Insurance Clauses
Sample text
2 THE FORMAL POLICY DOCUMENTS of words consistent with the need to validate the existence of the contract and comply with the provisions of the Marine Insurance Act 1906. Section 22 of the Marine Insurance Act provides: ‘‘Subject to the provisions of any statute, a contract of marine insurance is inadmissible in evidence unless it is embodied in a marine policy in accordance with this Act. ’’ The new form of document was issued concurrently by both Lloyd’s and the Institute of London Underwriters in terms which were practically identical.
17 MARINE CARGO FORMS Compare the position under Institute Cargo Clauses (B) and (C), where the corresponding provision has greater significance. ‘‘Both to Blame Collision Clause’’ 3 This insurance indemnifies the Assured, in respect of any risk insured herein, against liability incurred under any Both to Blame Collision Clause in the contract of carriage. In the event of any claim by carriers under the said Clause, the Assured agree to notify the Insurers who shall have the right, at their own cost and expense, to defend the Assured against such claim.
The FPA Clause also covered special charges for landing, warehousing and forwarding to destination goods which had been discharged at an intermediate port subject to a proviso (rather curiously expressed) that the loss averted by such special charges would have been one which underwriters would be liable to pay under the WA Clause. The area of additional cover granted by these exceptions to the average warranty was exactly the same in the FPA Clause as in the WA Clause. Some of these extensions to underwriters’ liability have now been transferred into the named risk sections of the new (B) and (C) Clauses.