Category: The terms of the contract; risks; and causation

Home The terms of the contract; risks; and causation


Causation 1. The proximate cause In order to be indemnified for a loss under a marine insurance policy, it must be established that the loss: was proximately caused by an insured peril was not proximately caused by an excepted or excluded peril. The requirement that the loss has been proximately caused by an insured peril...


Implied Warranties

Implied Warranties 1. Implied Warranties Section 33(2) MIA recognises that warranties may be implied. Warranties may be implied into the marine insurance contract either by reason of the parties’ agreement or by law (via MIA). A warranty may be implied by reason of the parties’ agreement if the implied warranty is necessary (not merely desirable)...


Conditions Precedent and Other Terms of The Insurance Contract

Conditions Precedent And Other Terms Of The Insurance Contract 1. Conditions Precedent Conditions precedent are frequently used in insurance policies. A condition precedent is classically a clause which imposes an obligation on the assured as a condition precedent to the insurer’s liability. If the condition precedent is not complied with, the insurer will by the...


Express warranties

Express warranties 1. Definition Of Warranties Two different types of warranties should be distinguished: a) Promissory warranties, the breach of which will discharge the insurer from liability. b) Descriptive or suspensive warranties, the breach of which will merely suspend the insurance cover while the assured remains in breach. i) Promissory Warranties Section 33(1) MIA defines...


Attachment, Duration and Termination of The Insured Risk

Attachment, Duration And Termination Of The Insured Risk 1. Policy Period, Time Policy And Voyage Policy The same considerations within section 25 MIA. These considerations can be found in Parts 7 and 8 of this Mini Series. 2. Cargo Policies And The Institute Clauses Cargo is invariably insured under voyage policies given that the very...



Premium 1. Introduction The premium is the monetary consideration paid by the assured in return for the insurer’s promise of indemnity in respect of losses covered by the policy. In the ordinary course of marine insurance business, the premium is paid by the assured to the broker; the broker pays the premium to the insurer...