A Treatise On the Law of Insurance volume 1

Cover A Treatise On the Law of Insurance volume 1
A Treatise On the Law of Insurance volume 1
Willard Phillips
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Where the insurers in the subsequent policy have notice of the specific terms of a prior one, the assured should plainly be precluded from making the objection ; but where it appears by the policy, or by admissible evidence, that the difference of the period of the risk in the two policies was known to the insurers at the time of making the subsequent policy, it seems to be a reasonable inference that both parties intended an estimate of the parts of the premium in the policy of the longest per...iod.
Upon a demand of return of premium for over-insurance on a subsequent policy made on a risk "at and from" Bayonne, the prior one being " from " the same port, the court in New York decided against the claim, on the ground that the underwriters had run the risk of the whole sum insured "at" Bayonne, before the risk on the prior policy attached. I But the rule above suggested would operate much more equitably where the assured is not by the circumstances precluded from an estimate of the risk "at Bay- onne, " since the short interest in such cases usually results from a less amount of goods being shipped than the assured had antici- pated ; and as the insurers in fact run the risk only at Bayonne, it is in accordance to the intention and express agreement of the parties that they should retain only a proportional part of the pre- mium.


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