As per MIA 1906 article 16 Measures of Insurable Value para (3) practicing the meaning of, should make the following notice: The effect of this clause, which is based on the Clause that appeared in certain specialized Institute Trade Clauses, is to oblige the assured to provide the full values to his insurers where he
Ένα από τα κυριότερα χαρακτηριστικά κάθε σύμβασης θαλάσσιας ασφάλισης, που διέπεται από τo αγγλικό δίκαιο, είναι το δικαίωμα του ασφαλιστή να αποφύγει τις υποχρεώσεις του στην περίπτωση που ο ασφαλισμένος απέκρυψε ή παραποίησε ουσιώδη περιστατικά (non-disclosure και misrepresentation). Δεν είναι μάλιστα σπάνιες οι περιπτώσεις όπου οι ασφαλιστές επικαλούνται την απόκρυψη ενός περιστατικού που φαίνεται σχετικά
STANDARD TRADING CONDITIONS INTRODUCTION In the days of break-bulk, port-to-port carriage, carriers operated one contract only: the contract of carriage in the bill of lading as this covered all of their activities. With the advent of combined transport the contract of carriage had to be expanded to cover liability during land carriage as well as
In some trades it is the custom for the buyer to purchase goods on C.I.F. terms and then to take out, in addition to the insurance purchased with the goods (which we shall call the "primary" insurance) further cargo insurance on a so-called "increased value" basis. In such circumstances difficulties have arisen as to how
It will be remembered from Section 33, sub section (3) of M.I.A. 1906 that if a warranty is not exactly complied with, then subject to any express provision in the policy, the insurer is discharged from liability as from the date of the breach, but without prejudice to any liability incurred by him before that
It is probably a fair statement to say that subrogation involves the cargo market more actively than other branches of marine insurance, and there is accordingly a need for the claims practitioner engaged in that field to understand the relationship between the bailee, the assured and his Underwriters. In collision cases, of course, the matter
“for the purpose of averting or minimising such loss” This means a loss (or damage) for which the underwriters would respond under the policy, thus reproducing the effect of section 78(3) of the Marine Insurance Act, which states: “expenses incurred for the purpose of averting or diminishing any loss not covered by the policy are
Definitions in Marine Insurance ABANDONMENT The cession by the insured to the insurer of the remains of his property, and rights relating to it, when a constructive total loss is claimed. ACTUAL TOTAL LOSS There is an actual total loss (a) where the subject-matter of insurance is completely destroyed; (b) where it ceases to
ΔΙΠΛΑΣΦΑΛΙΣΗ ΚΑΙ ΣΥΜΜΕΤΟΧΗ. Υπάρχει ευρέως η λάθος εντύπωση ότι η διπλή ασφάλιση είναι παράνομη. Όμως το πράγμα δεν είναι ακριβώς έτσι και θα προσπαθήσουμε εδώ να δούμε περιπτώσεις όπου η διπλασφάλιση επιτρέπεται και βέβαια άλλες όπου δεν επιτρέπεται. Η οπτική μας γωνία θα είναι αυτή της ασφάλισης φορτίων. Οι αρχές όμως είναι εφαρμόσιμες σε όλα
“loss damage or expense caused by inherent vice or nature of the subject matter insured.” This exclusion is not limited by the exception of claims resulting from variation in temperature (as is the corresponding exclusion in the Institute Frozen Food Clauses (A), since there is no specific reference to coverage in the Risk Clause for
