KRISSETTE GRACE F.

CAMPILAN
EH 404 JD3
CLASSES OF INLAND INSURANCE COVERAGE
Vessels, goods, freight, cargo, merchandise, profits, money, valuable
Property in transit Bailee liability Fixed transportation papers, bottomry and respondentia, and interest
Floater
property Persons or property
Precious stones, jewels, jewelry and precious metals whether in the
INSURABLE INTEREST course of transportation or otherwise;
Bridges, tunnels, piers, docks and other aids to navigation and
over the vessel to the extent of
its value transportation
Shipowner Cargo
expected freightage
SPECIAL MARINE INSURANCE CONTRACTS AND CLAUSES
Insurance against risks connected with navigation to
over the cargo and expected
Cargo owner which a ship, cargo, freightage, profits or other
profits
insurable interest in movable property, may be All Risks Policy Barratry Clause Inchamaree Clause Sue and Labor Clause
over the amount liable to the exposed during a certain voyage or a fixed period of
Charterer shipowner, if the ship is lost or time
damaged during voyage
all causes of conceivable loss or no recovery on the policy in case of any willful
damage, except excluded in the misconduct on the part of the master or crew in
Owner/Debtor policy; or due to fraud or pursuance of some unlawful or fraudulent purpose
Difference between the value of ve ssel or goods
In loans on intentional misconduct without consent of owners
and the amount of loan
bottomry and MARINE
respondentia Creditor/lender INSURANCE clause which makes the insurer liable for loss or damage to the clause under which the insurer
Amount of the loan hull or machinery arising from the negligence of the captain, may become liable to pay the
engineers, explosions, breakage of shafts; and latent defect of insured, in addition to the loss
machinery or hull actually suffered
IMPLIED WARRANTIES
LOSS AVERAGE CO-INSURANCE
Against Warranty of Presence of
Against illegal
Seaworthiness improper neutrality insurable Has inured to the common benefit and loss is partial
venture Total Partial General
deviation interest profit of all persons interest ed in the
vessel and cargo
1. Common danger to the vessel or cargo; 2. Pa rt of the vessel or amount of
DEVIATION Actu al That which is not total cargo was sacrificed de liberately; 3. Sacrifice must be for the
insurance is less
common safety or for the benefit of all; 4. Sacrifice must be made by
1. Tot al dest ruct ion
A departure from the course of the voyage insured, or an unreasonable delay in pursuing the voyage or the 2. Irretrievable loss by sinking
the master or upon his authority; 5. It must be not be caused by any than the value of
fault of the party asking the contribution; 6. It must b7. e successful
commencement of an entirely different voyage 3. Damage renderin g the thin g and Ne ce ssary. the property
Departure of vessel Commencement of
valu eless; or Has not inured t o the common benefit insured
Departure of vessel from Unreasonable delay in 4. Tot al deprivation of owner of
from the course of
the most natural, direct and an entirely different Particular and profit of all persons int erest ed in the
pursuing voyage possession of th ing in sured.
the sailing fixed by voyage ABANDONMENT vessel and cargo
Rules:
advantageous route
mercantile usage 1. Co-insurance applies
caused by circumstances outside th e Con st ruct ive actual relinquishment by the person insured of his interest
only to marine insurance
Prope control of the ship captain or ship owner Impro Every 1. Actu al loss of m ore than of in the thing insured
2. Logically, there cannot
r per the valu e of the object
necessary t o comply with a warrant y or to deviation 2. Damage reducin g valu e by constructive total loss f be coinsurance in life
avoid a peril not more than of the value of the a insurance.
In case of specified vessel and of cargo abandonment be neither partial nor conditional c 3. Co-insurance applies
In case of made in good faith to avoid a peril
KINDS loss or 3. Expen se of transsh ipmen t
t in fire insurance when
loss, the exceed of value of cargo made within a reasonable time after receipt of reliable
damage, the u expressly provided for
insurer is still made in good faith to save hu man life or information of the loss
insurer is not a by the parties.
liable. to relieve another vessel in distress
liable made by giving notice thereof to the insurer l

must be explicit and must specify the particular cause