Marine Insurance -
According to Section 3 of the Marine Insurance Act, 1963 " A contract of marine insurance is an agreement whereby the insurer undertakes to indemnify assured, in the manner and to the extent thereby agreed, against marine losses, that is to say, the losses incidental to Marine Adventure."
What police you must specify-
According to Section 25 of the said Act, Marine. She must specify-
(1) the name of the assured, ore of some person who affects the insurance on his behalf;
(2) the subject-matter insured and the risk insured against.
(3) the voyage, or period of time, both, as the case may be, covered by the insurance;
(4) the sum or sums insured;
(5) the name or names of the insurer or insurers
Contract must be embodied in policy-
According to Section 24 of the marine insurance act 1963, A contract of marine insurance shall not be admitted in evidence unless it is embodied in a Marine policy in accordance with this act (Marine Insurance Act 1963). The policy may be executed and issued either at the time when the contract is concluded or afterwards.
Signature of Insurer -
According to section 26 of the said Act -
(1) A Marine policy must be signed by or on behalf of the insurer.
(2) Where a policy is subscribed by or on behalf of two or more insurers, each subscription unless the contrary be expressed, constitutes a distinct contract with the assured.
Construction of terms in policy -
According to Section 32 of the Marine Insurance Act 1963-
(1) A policy may be in the form in this schedule.
(2) Subject to the provisions of this Act, ( Marine Insurance Act 1963) and unless the context of the policy otherwise requires, the terms and expressions mentioned in the schedule shall be construed as having scope and meaning assigned to them in the schedule.
Assignment of Policy -
When and how policy is assignable- according to Section 52-
(1) A Marine Policy may be transferred by assignment unless it contains terms expressly prohibiting assignment. It may be assigned either before or after loss.
(2) where A marine policy has been assigned so as to pass the beneficial interest in such policy, the assignee of the policy is entitled to sue thereon in his own name; and the defendant is entitled to make any defense arising out of the contract which he would have been entitled to make if the suit had been brought in the name of the person by all on behalf of whom the policy was effected.
(3) a marine policy may be assigned by endorsement thereon or in other customary manner.
Assured who has no interest cannot assign-
Double Insurance -
Section 34 of the Marine Insurance Act 1963, speaks about Double insurance, According to Section 34 -
(1) Where two or more policies are effected by or on behalf of the assured on the same adventure and interest or any part thereof, and the sums insured exceed in the indemnity allowed by this Act, the assured is said to be over-insured by Double Insurance.
(2) where the assured is over-insured by Double Insurance-
(a) the assured, unless the policy otherwise provides, main claim payment from the insurers in such order as he may think fit, provided that he is not entitled to receive any sum in excess of the indemnity allowed by this Act;
(b) Where the Policy under which the assured claims is a valued policy, the assured must give credit as against the valuation, for any sum received by him under any other policy, without regard to the actual value of the subject-matter insured;
(c) where the Policy under which the assured claims is an unvalued policy he must give credit, as against the full insurable value, for any sum received by him under any other policy;
(d) where the assured received any sum in excess of the indemnity allowed by this Act, He is deemed to hold such some in trust for the insurers, according to the right of contribution among themselves.
Marine Insurance : Meaning, Definition and Types of Marine Insurance
It is interesting to read your blog post and I am going to share it with my friends.aybabgReplyDelete
As a law student, I found your source quite educational and informational. I have read about marine insurance acts today in As a law student, I found your source quite educational and informational. I have read about marine insurance acts today in custom writing paper service class and I was not able to understand it but your easy notes made it easier for me to understand it. class and I was not able to understand it but your easy notes made it easier for me to understand it.ReplyDelete
You can also stick to just those daters who are in the same country you are. Projectsdeal.co.uk ReviewReplyDelete
Thank you because you have been willing to share information with us. we will always appreciate all you have done here because I know you are very concerned with our. 澳洲代写ReplyDelete
It is an incredible site.. The Design looks great.. Continue working that way!.ReplyDelete
Some marine hardware or rebate marine items accompany sound players where you can tune in to music, book recordings, whatever you like. watersports supplierReplyDelete
Recently, I used to be with an outdoors concert and festival on the beach. It was well attended by humans, dogs and birds. Fishing Reel TipsReplyDelete
Interesting post. I Have Been wondering about this issue, so thanks for posting. Pretty cool post.It 's really very nice and Useful post.Thanks 代写ReplyDelete
Your writing is fine and gives food for thought. I hope that I’ll have more time to read your articles . Regards. I wish you that you frequently publish new texts and invite you to greet me https://helpmewithmyessay.com/write-my-essay/ReplyDelete
Analyze the topics: Analyze the topic and theme of the Assignment and Fastest PhD Thesis Writing Service do a self estimation to determine your strength for that topic. Discuss with friends about the topics in which you feel you are not strong.ReplyDelete
In the event that your youngster's school has no uncommon assignment book, he can put to the side a segment at the front of a multi-subject fastener to record all assignments. cause and effect essayReplyDelete
Thank you because you have been willing to share information with us. we will always appreciate all you have done here because I know you are very concerned with our. Class 9 AssignmentReplyDelete
Global Studies solution. The Class 9 English Assignment along with other two subject will be published in later week. class 9 assignment 2021 answerReplyDelete
It is significant that staff perceive the difficult that is being tended to through the policy execution. reinsurance in Missouri & KansasReplyDelete
Wow! Such an amazing and helpful post this is. I really really love it. It's so good and so awesome. I am just amazed. I hope that you continue to do your work like this in the future also Assignment AnswerReplyDelete
Class 9 Assignment 2021 has published on www.topstories247.com. All students can download PDF Assignment question and Syllabus from the website. Answer of Assignment is also available.Class 9 assignmentReplyDelete
Great article Lot's of information to Read...Great Man Keep Posting and update to People..Thanks Class 8 Assignment AnswerReplyDelete
Some of the time it turns out to be hard to deal with every one of your tasks in school. Understudies don't get a lot of time to comprehend the topic of the task and complete them inside the given time. Custom Assignment Writing ServiceReplyDelete
GlobalAssignmentexpert is aware of the diverse needs of students in Australia, USA, UK and many other countries. Only Australia has more than 40 universities with high standards of education but different standards for case study writing. We cater to every writing demands and needs of every student from our highly qualified assignment experts so that only the top grades can be seen on the report card. The case study help we give you fits perfectly to the needs of your universities. When we assist you with writing your case study assignment, know that you will get 100% unique content in it.ReplyDelete
Rather than goggling information, our experts plan copyright infringement free assignments with unique substance utilizing class modules, address slides, notes, introductions, and examination workAssignment Help UKReplyDelete
Nice to be visiting your blog again, it has been months for me. Well this article that i’ve been waited for so long. I need this article to complete my assignment in the college, and it has same topic with your article. Thanks, great share. 代写作业ReplyDelete
Your blog provided us with valuable information to work with. Each & every tips of your post are awesome. Thanks a lot for sharing. Keep blogging.. 毕业论文代写ReplyDelete
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic. If possible, as you gain expertise, would you mind updating your blog with extra information? It is extremely helpful for me. 论文代写ReplyDelete
Nice blog and absolutely outstanding. You can do something much better but i still say this perfect.Keep trying for the best. 多伦多代写ReplyDelete
This is my first time i visit here. I found so many interesting stuff in your blog especially its discussion. From the tons of comments on your articles, I guess I am not the only one having all the enjoyment here keep up the good work 论文代写ReplyDelete
Nowadays many students are scared of their assignments of collage because they get very less time to complete them. Online assignment help is like a boon for them. You can avail online assignment help and get best assistance to complete your assignment. Assignment HelpReplyDelete
I invite you to the page where see how much we have in common. Assignment Help UKReplyDelete
We provide the largest Bangladeshi job circular and job education-related websites. you can get education information, job circular, results, notices, and job tips regularly here. Check it for Bangladesh Bank Exam Result 2022ReplyDelete