UNIT – 5Marine Insurance Agreement • April 1st, 2020
INTRODUCTION This is the oldest branch of Insurance and is closely linked to the practice of Bottomry which has been referred to in the ancient records of Babylonians and the code of Hammurabi way back in B.C.2250. Manufacturers of goods advanced their material to traders who gave them receipts for the materials and a rate of interest was agreed upon. If the trader was robbed during the journey, he would be freed from the debt but if he came back, he would pay both the value of the materials and the interest. The first known Marine Insurance agreement was executed in Genoa on 13/10/1347 and marine Insurance was legally regulated in 1369 there. Marine Insurance Cargo Hull 2.1 OBJECTIVES z Know the meaning of Marine insurance z Buy the Marine insurance z Settle the claim under Marine Insurance z Know the inland transit/overseas transit. z Know what is not covered under Marine insurance.
RISK DETAILSMarine Insurance Agreement • June 12th, 2013 • Virgin Islands
In accordance with this Agreement the Insured cedes, and the Insurer accepts, in insurance the risks under the following terms and conditions, acknowledging this is a British Virgin Islands licensed, registered and domiciled insurance company:
GENERAL CONDITIONS OF MARINE INSURANCE ON GOODSMarine Insurance Agreement • May 11th, 2023
GENERAL CONDITIONS OF MARINE INSURANCE ON GOODS (GCMI 2023) Edition 01.2023 Translation: The original wording in German shall be decisive in the case of dispute. The assured under this agreement shall be on equal footing with: the holder of title to claim; the party contracting the insurance; and the persons for whose acts the assured, the holder oftitle to claim, or the party contracting the insurance are responsible.
Indexed As: Universal Sales Ltd. et al. v. Edinburgh Assurance Co. et al.Marine Insurance Agreement • September 27th, 2021
The marine insurance in issue was excess third party liability cover, split between various syndicates and companies. The plaintiffs (the "Irving Group") sought indemnity from the defendant underwriters for sums paid to the Canadian government in settlement of an action for the cost of refloating the tank-barge Irving Whale and her cargo of Bunker C fuel oil, for the cost of defending that action, and for sue and labouring expenses allegedly incurred on the underwriters' behalf. The underwriters denied liability. They took the position that the Irving Group were not liable, or, if they were, their liability was not covered by the policies. The limit on liability coverage was $5 million.
ContractMarine Insurance Agreement • March 29th, 2022
Institute Marine Policy General Provisions (Cargo) 01.10.82 CL 269 The following general provisions are incorporated in this contract: English law and practice clause
HDFC ERGO AND RIVIGO TO PROVIDE RAPID CLAIM SETTLEMENT OF MARINE INSURANCEMarine Insurance Agreement • February 22nd, 2017
Mumbai, 22nd February, 2017: HDFC ERGO General Insurance Company, India’s third largest non-life insurance provider in the private sector, has entered into an agreement with RIVIGO, India’s leading logistics solutions provider, to provide Real-time Policy Issuance and Rapid Claims Settlement (RCS) for Marine Insurance policies for RIVIGO’s customers. Through this tie-up, the aim is to ensure the efficiency in policy issuance and delivery process as well as cut down on physical processes in claim settlements.
TRAILER CRAFTMarine Insurance Agreement • April 1st, 2022
This is your Mariner policy. Your insurance contract consists of this, the schedule and the proposal or application form. Please read this policy and your Schedule carefully and if any information is incorrect advise us immediately.
