Maritime Law

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of marine insurance is embodied in a policy, which specifies:

"1- The name of the insured, or of some person who effects the insurance on his
behalf.

2- The subject matter insured and the risk insured against.

3- The voyage, or period of time, or both, as the case may be, covered by the
insurance.

4- The sum or sums insured.

5- The names of the insurers."

The promissor in an insurance contract is called the insurer or underwriter, the
person to whom the promise is made is the insured, assured or the policyholder
and finally the contract is referred as the policy.

In order to avoid these situations marine cargo insurance has different coverage
for different purposes.


http://uniserve.edu.au/law/pub/icl/marincon/MarineInsuranceandCargoCla.html
http://ra.irv.uit.no/trade_law/documents/insurance/mia_1906/art/mia_1906.html#01

General Average Loss

55 Section 72(1) says that a general average loss is any loss or damage
voluntarily incurred for the general safety ...

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