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Marine insurance

Index Marine insurance

Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which the property is transferred, acquired, or held between the points of origin and the final destination. [1]

67 relations: Admiralty law, Assignment (law), British Empire, Caveat emptor, CEFOR, Classification society, Coal, Cocoa bean, Codification (law), Coffee, Common law, Container port, Cornhill, London, Cotton, Destroyer, England, Frozen food, General average, Genoa, Great Tower Street, Gulf War, History of insurance, Indemnity, Inland marine insurance, Insurable interest, Insurance, Joint and several liability, Jute, Kamikaze, Lex mercatoria, Lloyd's Coffee House, Lloyd's of London, Lloyd's Open Form, London, Lord Chief Justice of England and Wales, Marine Insurance Act 1906, Marine salvage, Merchant Marine Act of 1920, Money, Moral hazard, Mutual insurance, Oil platform, Persian Gulf, Piracy, Precedent, Prize money, Protection and indemnity insurance, Queen's Counsel, Receiver of Wreck, Reinsurance, ..., RMS Titanic, Royal Exchange, London, Seaworthiness (law), Shipbroking, Shipping insurance, Small claims court, Strait of Malacca, Subrogation, Sugar, Tea, Uberrima fides, United States Navy, Vegetable oil, Warranty, William Murray, 1st Earl of Mansfield, World War II, Yacht. Expand index (17 more) »

Admiralty law

Admiralty law or maritime law is a body of law that governs nautical issues and private maritime disputes.

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Assignment (law)

An assignment is a legal term used in the context of the law of contract and of real estate.

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British Empire

The British Empire comprised the dominions, colonies, protectorates, mandates and other territories ruled or administered by the United Kingdom and its predecessor states.

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Caveat emptor

Caveat emptor is Latin for "Let the buyer beware" (from caveat, "may he beware", a subjunctive form of cavēre, "to beware" + ēmptor, "buyer").

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CEFOR

The Central Union of Marine Underwriters (CEFOR) was founded August 15, 1911 by Norwegian and foreign insurance companies and is the marine insurance market organization of Norway.

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Classification society

A classification society (however called) is a non-governmental organization that establishes and maintains technical standards for the construction and operation of ships and offshore structures.

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Coal

Coal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams.

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Cocoa bean

The cocoa bean, also called cacao bean, cocoa, and cacao, is the dried and fully fermented seed of Theobroma cacao, from which cocoa solids and, because of the seed's fat, cocoa butter can be extracted.

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Codification (law)

In law, codification is the process of collecting and restating the law of a jurisdiction in certain areas, usually by subject, forming a legal code, i.e. a codex (book) of law.

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Coffee

Coffee is a brewed drink prepared from roasted coffee beans, which are the seeds of berries from the Coffea plant.

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Common law

Common law (also known as judicial precedent or judge-made law, or case law) is that body of law derived from judicial decisions of courts and similar tribunals.

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Container port

A container port or container terminal is a facility where cargo containers are transshipped between different transport vehicles, for onward transportation.

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Cornhill, London

Cornhill is a ward and street in the City of London, the historic nucleus and financial centre of modern London.

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Cotton

Cotton is a soft, fluffy staple fiber that grows in a boll, or protective case, around the seeds of the cotton plants of the genus Gossypium in the mallow family Malvaceae.

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Destroyer

In naval terminology, a destroyer is a fast, maneuverable long-endurance warship intended to escort larger vessels in a fleet, convoy or battle group and defend them against smaller powerful short-range attackers.

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England

England is a country that is part of the United Kingdom.

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Frozen food

Freezing food preserves it from the time it is prepared to the time it is eaten.

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General average

The law of general average is a legal principle of maritime law according to which all parties in a sea venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole in an emergency (for instance, when the crew throws some cargo overboard to lighten the ship in a storm).

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Genoa

Genoa (Genova,; Zêna; English, historically, and Genua) is the capital of the Italian region of Liguria and the sixth-largest city in Italy.

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Great Tower Street

Great Tower Street, originally known just as Tower Street, is a street in the City of London, the historic nucleus and modern financial centre of London.

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Gulf War

The Gulf War (2 August 199028 February 1991), codenamed Operation Desert Shield (2 August 199017 January 1991) for operations leading to the buildup of troops and defense of Saudi Arabia and Operation Desert Storm (17 January 199128 February 1991) in its combat phase, was a war waged by coalition forces from 35 nations led by the United States against Iraq in response to Iraq's invasion and annexation of Kuwait.

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History of insurance

The history of insurance traces the development of the modern business of insurance against risks, especially regarding cargo, property, death, automobile accidents, and medical treatment.

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Indemnity

Indemnity is a contractual obligation of one party (indemnitor) to compensate the loss occurred to the other party (indemnitee) due to the act of the indemnitor or any other party.

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Inland marine insurance

Inland marine insurance in the United States indemnifies loss to movable or specialized types of property, historically developing as an outgrowth of ocean marine insurance.

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Insurable interest

Insurable interest, It exists when an insured person derives a financial or other kind of benefit from the continuous existence, without impairment or damage, of the insured object (or in the case of a person, their continued survival).

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Insurance

Insurance is a means of protection from financial loss.

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Joint and several liability

Where two or more persons are liable in respect of the same liability, in most common law legal systems they may either be.

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Jute

Jute is a long, soft, shiny vegetable fiber that can be spun into coarse, strong threads.

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Kamikaze

, officially, were a part of the Japanese Special Attack Units of military aviators who initiated suicide attacks for the Empire of Japan against Allied naval vessels in the closing stages of the Pacific campaign of World War II, designed to destroy warships more effectively than possible with conventional air attacks.

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Lex mercatoria

Lex mercatoria (from the Latin for "merchant law"), often referred to as "the Law Merchant" in English, is the body of commercial law used by merchants throughout Europe during the medieval period.

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Lloyd's Coffee House

A 19th-century drawing of Lloyd's Coffee House Lloyd's Coffee House was a significant meeting place in London in the 17th and 18th centuries.

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Lloyd's of London

Lloyd's of London, generally known simply as Lloyd's, is an insurance market located in London, United Kingdom.

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Lloyd's Open Form

The Lloyd's Open Form, formally "Lloyd's Standard Form of Salvage Agreement", and commonly referred to as the LOF, is a standard form contract for a proposed marine salvage operation.

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London

London is the capital and most populous city of England and the United Kingdom.

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Lord Chief Justice of England and Wales

The Lord Chief Justice of England and Wales is the head of the judiciary and President of the Courts of England and Wales.

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Marine Insurance Act 1906

The Marine Insurance Act 1906 (8 Edw. 7 c.41) is a UK Act of Parliament regulating marine insurance.

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Marine salvage

Marine salvage is the process of recovering a ship and its cargo after a shipwreck or other maritime casualty.

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Merchant Marine Act of 1920

The Merchant Marine Act of 1920 is a United States federal statute that provides for the promotion and maintenance of the American merchant marine.

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Money

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.

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Moral hazard

In economics, moral hazard occurs when someone increases their exposure to risk when insured.

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Mutual insurance

A mutual insurance company is an insurance company owned entirely by its policyholders.

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Oil platform

An oil platform, offshore platform, or offshore drilling rig is a large structure with facilities for well drilling to explore, extract, store, process petroleum and natural gas which lies in rock formations beneath the seabed.

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Persian Gulf

The Persian Gulf (lit), (الخليج الفارسي) is a mediterranean sea in Western Asia.

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Piracy

Piracy is an act of robbery or criminal violence by ship or boat-borne attackers upon another ship or a coastal area, typically with the goal of stealing cargo and other valuable items or properties.

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Precedent

In common law legal systems, a precedent, or authority, is a principle or rule established in a previous legal case that is either binding on or persuasive for a court or other tribunal when deciding subsequent cases with similar issues or facts.

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Prize money

Prize money has a distinct meaning in warfare, especially naval warfare, where it was a monetary reward paid out under prize law to the crew of a ship for capturing or sinking an enemy vessel.

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Protection and indemnity insurance

Protection and indemnity insurance, more commonly known as "P&I" insurance, is a form of mutual maritime insurance provided by a P&I Club.

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Queen's Counsel

A Queen's Counsel (postnominal QC), or King's Counsel (postnominal KC) during the reign of a king, is an eminent lawyer (usually a barrister or advocate) who is appointed by the Monarch to be one of "Her Majesty's Counsel learned in the law." The term is also recognised as an honorific.

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Receiver of Wreck

The Receiver of Wreck is an official who administers law dealing with maritime wrecks and salvage in some countries having a British administrative heritage.

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Reinsurance

Reinsurance is insurance that is purchased by an insurance company.

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RMS Titanic

RMS Titanic was a British passenger liner that sank in the North Atlantic Ocean in the early hours of 15 April 1912, after colliding with an iceberg during its maiden voyage from Southampton to New York City.

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Royal Exchange, London

The Royal Exchange in London was founded in the 16th century by the merchant Thomas Gresham on the suggestion of his factor Richard Clough to act as a centre of commerce for the City of London.

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Seaworthiness (law)

Seaworthiness is a concept that runs through maritime law in at least four contractual relationships.

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Shipbroking

Shipbroking is a financial service, which forms part of the global shipping industry.

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Shipping insurance

Shipping insurance is a service which may reimburse senders whose parcels are lost, stolen, and/or damaged in transit.

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Small claims court

Small-claims courts have limited jurisdiction to hear civil cases between private litigants.

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Strait of Malacca

The Strait of Malacca (Selat Melaka, Selat Malaka; Jawi: سلت ملاک) or Straits of Malacca is a narrow, stretch of water between the Malay Peninsula (Peninsular Malaysia) and the Indonesian island of Sumatra.

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Subrogation

Subrogation is a legal doctrine whereby one person is entitled to enforce the subsisting or revived rights of another for one's own benefit.

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Sugar

Sugar is the generic name for sweet-tasting, soluble carbohydrates, many of which are used in food.

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Tea

Tea is an aromatic beverage commonly prepared by pouring hot or boiling water over cured leaves of the Camellia sinensis, an evergreen shrub (bush) native to Asia.

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Uberrima fides

Uberrima fides (sometimes seen in its genitive form uberrimae fidei) is a Latin phrase meaning "utmost good faith" (literally, "most abundant faith").

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United States Navy

The United States Navy (USN) is the naval warfare service branch of the United States Armed Forces and one of the seven uniformed services of the United States.

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Vegetable oil

Vegetable oils, or vegetable fats, are fats extracted from seeds, or less often, from other parts of fruits.

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Warranty

In contract law, a warranty has various meanings but generally means a guarantee or promise which provides assurance by one party to the other party that specific facts or conditions are true or will happen.

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William Murray, 1st Earl of Mansfield

William Murray, 1st Earl of Mansfield, PC, SL (2 March 1705 – 20 March 1793) was a British barrister, politician and judge noted for his reform of English law.

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World War II

World War II (often abbreviated to WWII or WW2), also known as the Second World War, was a global war that lasted from 1939 to 1945, although conflicts reflecting the ideological clash between what would become the Allied and Axis blocs began earlier.

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Yacht

A yacht is a watercraft used for pleasure or sports.

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Actual Total Loss, Actual total loss, Associated Marine, Average adjuster, Boat Insurance, Cargo insurance, Certified Marine Insurance Professional, Certified marine insurance professional, Constructive Total Loss, Constructive total loss, Marine Insurance, Maritime insurance.

References

[1] https://en.wikipedia.org/wiki/Marine_insurance

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