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Maritime Law
Beginning of paper
The value of many shipments depends upon fluctuations in the currency rates,
freight, 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 in .... Middle of paper
.... of marine insurance is embodied in a policy, which specifies:
"1- The name of the insured, or of some person who effects the insurance on his
behalf.
2- The subject matter insured and the risk insured against.
3- The voyage, or period of time, or both, as the case may be, covered by the
insurance.
4- The sum or sums insured.
5- The names of the insurers."
The promissor in an insurance contract is called the insurer or underwri ....
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Number of words: 840
Number of pages: 4 (approx. 250 words per double-spaced page)
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