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Marine insurance and Protection and indemnity insurance

Shortcuts: Differences, Similarities, Jaccard Similarity Coefficient, References.

Difference between Marine insurance and Protection and indemnity insurance

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

Similarities between Marine insurance and Protection and indemnity insurance

Marine insurance and Protection and indemnity insurance have 10 things in common (in Unionpedia): General average, Indemnity, Insurance, Lloyd's Open Form, Marine Insurance Act 1906, Marine salvage, Mutual insurance, RMS Titanic, Seaworthiness (law), Subrogation.

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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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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Insurance

Insurance is a means of protection from financial loss.

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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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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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Mutual insurance

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

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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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Seaworthiness (law)

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

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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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The list above answers the following questions

Marine insurance and Protection and indemnity insurance Comparison

Marine insurance has 67 relations, while Protection and indemnity insurance has 42. As they have in common 10, the Jaccard index is 9.17% = 10 / (67 + 42).

References

This article shows the relationship between Marine insurance and Protection and indemnity insurance. To access each article from which the information was extracted, please visit:

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