In marine insurance, every voyage policy (hull or cargo) carries an implied warranty that the vessel is seaworthy at the commencement of the voyage.
In marine insurance, every voyage policy (hull or cargo) carries an implied warranty that the vessel is seaworthy at the commencement of the voyage.
In Life and Health Insurance, a policy covering a mortgagor from which the benefits are intended (1) to pay off the balance due on a mortgage upon the death of the insured, or (2) to meet the payments on a mortgage as they fall due in the case of his death or disability. Also called Mortgage Redemption Insurance.