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 marine insurance, a clause inserted in an open cover policy defining the basis of an acceptable Insured value in respect of shipments that are declared ‘late’. The basis normally includes the invoice cost of the goods plus insurance charges, freight and a fixed percentage representing the profit to the seller.