Marine Insurance

Running head : MARINE INSURANCE

Marine Insurance

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A ) A ship operator requires insurance cover for liabilities it may incur , in respect of damage it may cause , to other ships and third party property . Explain under which contracts of insurance the relevant cover will normally be placed . In doing so , where possible , refer to and analyse relevant case law (Assume the H M is on an Institute Time Clauses (Hulls ) 1995 policy form and

I is with a U .K . based Club

of the International Group

The field of insurance is so expanse and entails a great deal of varied issues ranging from life assurance to marine insurance . Marine insurance can be distinguished from non-marine insurance by one characteristic that is unique to it . It is the only insurance where the insured is required to prove his loss . Actual degree of proof where cargo or a vessel gets lost . Constructive Loss is used to refer to a situation where the loss is inferred and may further be used to describe a loss whereby the cost of recovery to be involved would be so uneconomical whereas Actual scenario where the position is clear . In actual sense the two terms are used to refer to the difficulty of proving one 's loss where they lack the evidence of the loss . It is also of great...