The duty of a ship owner or cargo owner to take all reasonable and proper steps or measures to ensure the safety of his own property and/or the property in his care and also to avoid damage to the property of others.

A cargo clause in respect of pipes or cargo similar in length, which provides that damaged cargo should be cut off, leaving the good in pieces for the account of the Insured.

Remuneration for service rendered.

A payment made by the Insurer in respect of a claim for which he is not legally liable. Done as a sign of goodwill or to accommodate a valued Insured.

Double insurance occurs when two or more policies are effected on the same interest and adventure so that the total sum insured exceeds the value at risk. The insured may claim on either policy but he cannot claim more than the properly allowable insurable amount.

In a policy having multiple named Insureds, coverage for the legal liability of each party to the other.

The impact between a vehicle/vessel and another vehicle/vessel or object.

Damages awarded by a Court, in an action for liability, to set an example; rather in the form of a punishment against the defendant than to make good a loss suffered by the plaintiff.

The insured must disclose every material fact or circumstance to the insurer before the contract is concluded: that is, before the insurer accepts the risk.

Insurance.