marine insurance

marine insurance
A policy or contract of insurance covering the risk of loss to ship, cargo, or freight from a peril or perils of the sea. 29A Am J Rev ed Ins §§ 1308 et seq. A maritime contract or guaranty, on the part of the insurer, that the ship or goods shall pass safely over the sea, and through its storms and its many casualties, to the port of its destination; and that if they do not pass safely, but meet with disaster, from any of the misadventures insured against, the insurer will pay the loss sustained. New England Marine Ins. Co. v Dunham (US) 11 Wall 1, 20 L Ed 90. Probably the oldest form of insurance.

Ballentine's law dictionary. . 1998.

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  • Marine insurance — Marine Ma*rine , a. [L. marinus, fr. mare the sea: cf. F. marin. See {Mere} a pool.] 1. Of or pertaining to the sea; having to do with the ocean, or with navigation or naval affairs; nautical; as, marine productions or bodies; marine shells; a… …   The Collaborative International Dictionary of English

  • marine insurance — ➔ insurance * * * marine insurance UK US noun [U] ► INSURANCE, TRANSPORT insurance that will pay for the loss of or damage to a ship and the goods it is carrying …   Financial and business terms

  • marine insurance — ma·rine insurance /mə rēn / n: insurance against loss by damage to or destruction of cargo or the means or instruments of its transportation whether on land, sea, or air see also inland marine insurance, ocean marine insurance Merriam Webster’s… …   Law dictionary

  • Marine insurance — Admiralty law History …   Wikipedia

  • marine insurance — 1. See ocean marine insurance. 2. See inland marine insurance. [1795 1805] * * *       contract whereby, for a consideration stipulated to be paid by one interested in a ship or cargo that is subject to the risks of marine navigation, another… …   Universalium

  • marine insurance — noun : insurance against loss by damage or destruction of cargo, freight, merchandise, or the means or instruments of transportation and communication whether on land, sea, or air compare inland marine insurance, ocean marine insurance * * * 1.… …   Useful english dictionary

  • marine insurance broker — ➔ broker1 * * * marine insurance broker UK US noun [C] ► INSURANCE, TRANSPORT a person or company whose job is to give independent advice about and arrange marine insurance …   Financial and business terms

  • marine insurance survey — ➔ survey1 * * * marine insurance survey UK US noun [C] ► INSURANCE, TRANSPORT an examination of a ship or the goods in it to decide how much an insurance company should pay for any loss or damage …   Financial and business terms

  • marine insurance — insurance on good transported overseas by ships …   English contemporary dictionary

  • Marine Insurance Act 1906 — The Marine Insurance Act 1906 is a UK Act of Parliament regulating marine insurance. The Act was drafted by Sir Mackenzie Dalzell Chalmers, who had earlier drafted the Sale of Goods Act 1893. The Marine Insurance Act 1906 is of huge significance …   Wikipedia

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