The subject of Marine Insurance is very wide and encompassing. It entails many different policies and clauses which vary according to the offers of the insurer and the needs of the assured. Insurance in general is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment called a premium. Both life and property can be insured. Commonly insured assets include buildings and vehicles, and goods in transit. In the world of shipping, many risks are involved which
RESEARCH BACKGROUND Marine insurance plays an important role in risk management service by providing individual protection against the risk of losses from the various perils. Besides, marine insurance is essential in the field of overseas and internal trade of a country. If there is no cover or protection by marine insurance the entire trade structure may bind to suffer. There are two types of marine insurance protection which are hull insurance and cargo insurance. Hull insurance covers the ships and
2.1 The Concept of Uberrimae fidei in Marine Insurance Law Section 17 of the Marine Insurance Act 1906 (UK) requires parties to a marine insurance contract to observe utmost good faith. It is clear from the wording of the section that the duty is to be observed by both parties to a marine insurance contract. Although it is a mutual obligation, operating both ways, in practice the duty of utmost good faith has more than often been applied in the context of the duty of the assured to disclose. Lord
handling charges, and other expenses. By means of insurance protection will be provided to goods from any uncontrollable variables. A contract of Marine Insurance is defined by section 7 of the Marine Insurance Act of 1909 as: "A contract whereby the insurer undertakes to indemnify the assured, in manner and to the extent thereby agreed, against marine losses, that is to say, the losses incident to marine adventure." The purpose of marine insurance is to provide protection against financial loss for
firstly, where it involves two other contracts respectively. Then, I will mainly analyse the duties of the shipper in the contract of carriage. Next, the most discussion will be referred to the contract of marine insurance on the relationship between the assured and insured, as well as the insurance cover. Finally, I will analyse letters of credit as a method of pay... ... middle of paper ... ... Ltd (1936) 55 Ll. L. Rep 391 [44] The rules were revised in 1993 and came into force on 1 January
All insurance contracts are fiduciary contracts in other words they involve a level of trust on either side, on the part of the insured and the insurer. Utmost good faith (uberrimae fidei) forms the basis of all such contracts. Both the insurer and the insured must abide by this principle. This essay will examine the role of the insurer and the insured in ensuring full disclosure of all material facts. The disclosure of information is of crucial importance as failure to disclose can render the contract
You Need Motorcycle Insurance to Protect Your Bike and Yourself? The Importance of having Insurance Outweighs Even the Price and Requirements. If you have a motorcycle, you know the feeling of freedom and adventure it gives you. The warm breeze as you ride along and the scenery passing by are unique experiences provided by riding a bike. One way to protect those experiences is to make sure to have the proper motorcycle insurance. Marine Agency Insurance offers motorcycle insurance to be able to maintain
Summary of Films Film # 1 is called The Open Ocean. In this film, the author takes a look at the pacific. It says that the Mariana Trench (7 miles deep) is the deepest place on earth. The highest mountains of the world are located there. In shallower waters, there is much life. Photosynthetic organisms are the basis of all life in the sea. Also, some animals such as the sea anemones and the sea cucumbers allow currents to carry particles to them, and some creature pulse to deliver oxygen to their
The Rime of the Ancient Mariner The Mariner is not in the hands of a merciful God because his agony always returns. He asks for forgiveness of his agony but still after he tells his tale the agony returns at random times. A merciful God would grant permanent mercy. For all, the Mariner has been through death and hardship of his crew because of the killing of the albatross. The thought of his crime is enough agony but the Mariner's agony returns until he has to relive the tragedy of the killing of
Flatworms belong to the phylum Platyhelminthes. They have the simplest body plan of all bilaterally symmetrical animals. They are called flatworms because their bodies are compressed. The mouth is the only opening into the digestive cavity the flatworms have. Food is taken in through this hole and wastes are discharged also through this hole. Flatworms have a well-defined nervous, muscular, excretory, and reproductive system. The flatworm distributes the food it digests through a digestive tube that
At sixteen years of age, Conrad decided to become a seaman and he joined the British merchant marines in 1878. His lack of speaking the English language did not discourage him. During his ten years of service, Conrad became a British citizen, traveled the western continents, developed into a Captain and learned the English language. Health problems caused his early retirement of the British merchant marines. In 1894, he started his career as a writer, using his seaman and sailing experience to write
Do you remember the conflict that America had in the Persian Gulf a few years back? An incident occurred there where a man drove a truck loaded with explosives into the building where more than 100 Marines were stationed. He blew up the building, along with the Marines. The incident was published by the AP Press soon after. Now do you remember the bombing just four years ago, in Oklahoma City? Suspects Timothy McVeigh and Terry Nichols drove a Ryder Van loaded with 4,800 pounds of fertilizer and
Navy NCDU Teams On the beach invasions of Normandy, one of the marines commented, “Jesus, we don’t even have control of the beach yet and already the tourist are here!”. This is the normal response that the men of UDT get, during WWII in the pacific campaign. They would paint themselves with steaks of blue and white. They were the first ones on the beach and the last ones to leave. They carried no weapons except for a combat knife used for cutting, and crimping the fuses of their explosives
I wanted to be a Marine. Being a Marine meant everything to me. Challenges were something that I loved and in my mind being a Marine would be the biggest challenge that I could overcome. The Marine Corps has the longest and hardest basic training of all the basic corps. One day I decided to talk to my parents about it, my father was proud but mother on the other hand wasn’t truly happy because I’m her youngest. Later that day, my father and I decided to look more into the Marine Corps and we stumbled
went through you mind? Did you simply think of it as another federal holiday? A 3-day weekend? The beginning of the 100 days of Summer…a BBQ? Or did you think of a mother running a finger over her son's name on the Vietnam Wall…or possibly the brave marines raising the flag on top of the mountain in Iwo Jima…..or did you simply think of all the sacrifices that have been made by the brave men and women that allow us to enjoy the freedoms and liberties we enjoy today. For those of you who did indeed think
may think of an NFL team (Tennessee Titans), an NBA team (Sacramento Kings), or a NASA astronaut team with such pioneers as Edwin Aldrin, Jr. and Neil Armstrong as members. You might even think of the U.S. Navy, Air Force, Army, Coast Guard, or Marines as teams. In fact they all are, and they have a great deal in common as teams. However, for the purposes of this paper I will examine the characteristics of work teams, as they apply to organizations and I will supply answers to the following questions:
The Rime of the Ancient Mariner by Samuel Taylor Coleridge Part 1 a old man stops one man out of three that were walking down the street to go to a wedding the man is a relation of the married the man tries to get away but the old man grabs the man with his skinny hand the man is held there by the glitter of the old man's eye the man is listening intently "Like a three years' child" the old man has the man's attention the wedding guest sat down on a stone the mariner went on with his story
Expected Behavior in The Coquette and The Female Marine In society, constructs of correctness have been formed on the basis of expected, gendered behavior. Individuals have traditional roles that they play which are based on the historical performance of their gender. Although very rigid, these traditional roles are frequently transferred, resulting in an altered and undefinable identity that exists beyond the boundaries of gender. These transgressions into the neuter role are characterized
die later in the chapter. The story opens with the marines aboard their battle cruiser, The Pillar of Autumn. Suddenly, an alarm sounds because an alien race, known as the Covenant, has invaded the ship. Then the marines open up a cryo-tube. [a tube one can sleep frozen in] Inside the tube is the genetically enhanced super-soldier, known as the Master Chief. The Chief then defeats the aliens aboard the ship. After the invasion, the marines discover the ancient ring-world, called Halo. They then
the subsidiaries. One such subsidiary is a marine operation operating from the Durban harbour and that has a boat valued at R20 million. The theory surrounding the fundamental principles of insurance, namely indemnity insurance, materiality, duty to disclose and insurable interest will be discussed. Thereafter, the above for mentioned concepts will be applied to the report at hand. Additionally, the outcome of Lorcom Thirteen (Pty) Ltd v Zurich Insurance Company South Africa 2013 case 54/08 [the