27 Oct Provide an explanation for this things which can be found on Sec 121-137 of Insurance Code of the Philippines particularly on Marine Insurance.
Provide an explanation for this things which can be found on Sec 121-137 of Insurance Code of the Philippines particularly on Marine Insurance.
The Voyage and Deviation
Deviation is a departure of vessel from course of voyage, or an unreasonable delay in pursuing voyage, or the commencement of an entirely different voyage.
Deviation proper
If due to circumstances outside the control of the ship captain or ship owner
If done to comply with a warranty
If made in good faith to avoid a peril
If made to save human life or another distressed vessel
Kinds of Losses
Total Loss
Actual Loss
An actual total loss is caused by:
Total destruction
Loss by sinking
Damage rendering the thing valueless
Total deprivation of owner of possession of thing insured
Complete physical destruction not essential to constitute actual total loss.
Presumption of actual loss
Constructive Loss
Liability of insurer in case of reshipment
When a ship is prevented, at an intermediate port, from completing the voyage, by the perils insured against, the liability of a marine insurer on the cargo continues after they are thus reshipped.
Additional liability of insurer of goods
for damages, expenses of discharging, storage, reshipment, extra freightage, and all other expenses incurred in saving cargo reshipped pursuant to the last section, up to the amount insured.
General Average
include damages and expenses which are deliberately caused by the master of the vessel or upon his authority, in order to save the vessel, her cargo, or both at the same time from a real and known risk.
Principle of General Average Contribution
The owners of the interest benefited by the sacrifice must contribute proportionately to the loss incurred
Right of a Party to Claim General Average Contribution
Common danger
Deliberate sacrifice
Done for common safety
Made by the master
Not caused by fault of the one asking for GAC
Successful
Necessary
Example: Case of Jettison
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.