Marine Insurance : Its Principles And Practice
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PoHcies in which the interest insured is the liabihty of a common carrier for loss suffered to property in his custody are sometimes issued. The subject of insurance is not the property itself but the liability of the carrier whether this be implied by law or assumed by contract. Such a policy is unvalued, the responsibihty of the underwriter being limited only by the amount expressed in the policy and not by the value of the property to which the liability relates. The great bulk of cargo insu...rance, especially in the overseas trade, is written in the form of the open or floating policies or as they are called in Great Britain, "permanent covers." It is worthy of note that the Marine Insurance Act of Great Britain limits the term for which a policy may be written to one year, and that owing to the "Stanlp Act" these "permanent covers" are merely agree- ments on the part of the underwriters to cover the shipments described and to issue properly stamped evidence of the individ- ual insurances when declarations of amounts are made.
What to read after Marine Insurance : Its Principles And Practice?
You can find similar books in the "Read Also" column, or choose other free books by Winter, William, 1836-1917 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
PoHcies in which the interest insured is the liabihty of a common carrier for loss suffered to property in his custody are sometimes issued. The subject of insurance is not the property itself but the liability of the carrier whether this be implied by law or assumed by contract. Such a policy is unvalued, the responsibihty of the underwriter being limited only by the amount expressed in the policy and not by the value of the property to which the liability relates. The great bulk of cargo insu...rance, especially in the overseas trade, is written in the form of the open or floating policies or as they are called in Great Britain, "permanent covers." It is worthy of note that the Marine Insurance Act of Great Britain limits the term for which a policy may be written to one year, and that owing to the "Stanlp Act" these "permanent covers" are merely agree- ments on the part of the underwriters to cover the shipments described and to issue properly stamped evidence of the individ- ual insurances when declarations of amounts are made.
What to read after Marine Insurance : Its Principles And Practice?
You can find similar books in the "Read Also" column, or choose other free books by Winter, William, 1836-1917 to read onlineMoreLess
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