Marine Insurance Warranties:- Marine insurance warranties are an essential component of marine insurance policies. They are promises or guarantees made by the insured party in the insurance agreement. These warranties are critical elements of the insurance contract and play a crucial role in determining the coverage provided by the policy. Marine Insurance Warranties Marine insurance … Read more
Utmost Good Faith in Insurance Contracts:- Utmost good faith is a legal principle that governs the insurance industry. It requires both parties in an insurance contract to act with honesty and transparency. The principle of utmost good faith is based on the idea that both parties should have equal access to information and that neither … Read more
Cargo Insurance:- Cargo insurance is a type of insurance that provides coverage against physical loss or damage to freight during shipment. It covers transits carried out by land, sea, or air and is also known as freight insurance. Cargo insurance is important for businesses that transport goods, as it provides protection against risks such as … Read more
Insurance: Definitions and Features Explained:- Insurance is a concept that has been around for centuries, and it has evolved significantly over time. Insurance is a form of risk management that allows individuals and businesses to protect themselves from financial losses. Insurance policies are contracts between an individual or entity and an insurance company, where the … Read more
Liability in Marine Insurance:- Liability in marine insurance is a critical aspect of the maritime industry, and it is essential to understand the different types of policies and principles that govern it. Marine insurance is a contract between the insurer and the insured, where the insurer agrees to indemnify the insured against losses arising from … Read more
Rate Making in Marine Insurance:- Marine insurance is a type of insurance that covers loss or damage to ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination. Marine insurance is an essential component of international trade and commerce. The insurance … Read more
Marine Hull Insurance:- Marine hull insurance is a type of insurance policy that covers physical loss or damage to a vessel, including its hull and machinery. This type of insurance also covers business interruption, builders’ risks, increased value, and mortgagees’ interest. Marine hull insurance is essential for ship-owners and ship managers who want to protect … Read more
Holder in Due Course:- Holder in Due Course is a concept that is fundamental to commercial law and negotiable instruments. It is a legal term that refers to a person who takes a negotiable instrument in good faith, for value, and without notice of any defects. The holder in due course has certain rights and … Read more
Types of Fire Insurance Policies:- Fire insurance policies are designed to cover losses resulting from fire damage. There are different types of fire insurance policies that businesses can purchase to cover their losses caused by fire. In this article, we will discuss the 16 types of fire insurance policies that insurance companies provide. Types of … Read more
Proximate Cause in Insurance:- Proximate cause is a crucial concept in the insurance industry, as it determines the coverage and outcome of insurance claims. It refers to the primary or dominant cause of an event or loss that leads to a particular outcome. Understanding proximate cause is essential for policyholders and insurers alike, as it … Read more