Where a ship registers with a flag of a country not requiring high standards of compliance to safety, inspections, surveys, etc. it is said to be registered with a ‘flag of convenience’.
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BREACH OF WARRANTY
Whether or not it affects a claim on the policy the Insured must comply with all warranties in the policy. In the event of breach of warranty by the Insured, the Insurer is automatically, discharged from all liability from the date of the breach, but the Insurer remains liable for Insured losses occurring prior to that date.