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vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Actual total loss and constructive total loss subsection</span> </button> <ul id="toc-Actual_total_loss_and_constructive_total_loss-sublist" class="vector-toc-list"> <li id="toc-Constructive_total_loss" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Constructive_total_loss"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.1</span> <span>Constructive total loss</span> </div> </a> <ul id="toc-Constructive_total_loss-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-General_averages" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#General_averages"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>General averages</span> </div> </a> <ul id="toc-General_averages-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Excess,_deductible,_retention,_co-insurance,_and_franchise" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Excess,_deductible,_retention,_co-insurance,_and_franchise"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Excess, deductible, retention, co-insurance, and franchise</span> </div> </a> <ul id="toc-Excess,_deductible,_retention,_co-insurance,_and_franchise-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Tonners_and_chinamen" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Tonners_and_chinamen"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Tonners and chinamen</span> </div> </a> <ul id="toc-Tonners_and_chinamen-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Specialist_policies" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Specialist_policies"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Specialist policies</span> </div> </a> <ul id="toc-Specialist_policies-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Warranties_and_conditions" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Warranties_and_conditions"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>Warranties and conditions</span> </div> </a> <ul id="toc-Warranties_and_conditions-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Salvage_and_prizes" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Salvage_and_prizes"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>Salvage and prizes</span> </div> </a> <ul id="toc-Salvage_and_prizes-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Marine_Insurance_Act,_1906" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Marine_Insurance_Act,_1906"> <div class="vector-toc-text"> <span class="vector-toc-numb">11</span> <span>Marine Insurance Act, 1906</span> </div> </a> <ul id="toc-Marine_Insurance_Act,_1906-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Claims_basis_and_deductibles" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Claims_basis_and_deductibles"> <div class="vector-toc-text"> <span class="vector-toc-numb">12</span> <span>Claims basis and deductibles</span> </div> </a> <ul id="toc-Claims_basis_and_deductibles-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">13</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">14</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">15</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">16</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet 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href="https://de.wikipedia.org/wiki/Transportversicherung" title="Transportversicherung – German" lang="de" hreflang="de" data-title="Transportversicherung" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Seguro_mar%C3%ADtimo" title="Seguro marítimo – Spanish" lang="es" hreflang="es" data-title="Seguro marítimo" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%ED%95%B4%EC%83%81%EB%B3%B4%ED%97%98" title="해상보험 – Korean" lang="ko" hreflang="ko" data-title="해상보험" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%B8%E0%A4%AE%E0%A5%81%E0%A4%A6%E0%A5%8D%E0%A4%B0%E0%A5%80_%E0%A4%AC%E0%A5%80%E0%A4%AE%E0%A4%BE" title="समुद्री बीमा – Hindi" lang="hi" hreflang="hi" data-title="समुद्री बीमा" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Asuransi_pengangkutan_laut" title="Asuransi pengangkutan laut – Indonesian" lang="id" hreflang="id" data-title="Asuransi pengangkutan laut" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%91%D7%99%D7%98%D7%95%D7%97_%D7%99%D7%9E%D7%99_%D7%95%D7%90%D7%95%D7%95%D7%99%D7%A8%D7%99" title="ביטוח ימי ואווירי – Hebrew" lang="he" hreflang="he" data-title="ביטוח ימי ואווירי" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a href="https://kn.wikipedia.org/wiki/%E0%B2%A8%E0%B3%8C%E0%B2%95%E0%B2%BE_%E0%B2%B5%E0%B2%BF%E0%B2%AE%E0%B3%86" title="ನೌಕಾ ವಿಮೆ – Kannada" lang="kn" hreflang="kn" data-title="ನೌಕಾ ವಿಮೆ" data-language-autonym="ಕನ್ನಡ" data-language-local-name="Kannada" class="interlanguage-link-target"><span>ಕನ್ನಡ</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Transportverzekering" title="Transportverzekering – Dutch" lang="nl" hreflang="nl" data-title="Transportverzekering" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E6%B5%B7%E4%B8%8A%E4%BF%9D%E9%99%BA" title="海上保険 – Japanese" lang="ja" hreflang="ja" data-title="海上保険" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Sj%C3%B8forsikring" title="Sjøforsikring – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Sjøforsikring" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Ubezpieczenie_morskie" title="Ubezpieczenie morskie – Polish" lang="pl" hreflang="pl" data-title="Ubezpieczenie morskie" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%9C%D0%BE%D1%80%D1%81%D0%BA%D0%BE%D0%B5_%D1%81%D1%82%D1%80%D0%B0%D1%85%D0%BE%D0%B2%D0%B0%D0%BD%D0%B8%D0%B5" title="Морское страхование – Russian" lang="ru" hreflang="ru" data-title="Морское страхование" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Denizcilik_sigortas%C4%B1" title="Denizcilik sigortası – Turkish" lang="tr" hreflang="tr" data-title="Denizcilik sigortası" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%9C%D0%BE%D1%80%D1%81%D1%8C%D0%BA%D0%B5_%D1%81%D1%82%D1%80%D0%B0%D1%85%D1%83%D0%B2%D0%B0%D0%BD%D0%BD%D1%8F" title="Морське страхування – Ukrainian" lang="uk" hreflang="uk" 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class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Insurance covering the loss of ships and other transport</div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output 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role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/b/b4/Ambox_important.svg/40px-Ambox_important.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/b/b4/Ambox_important.svg/60px-Ambox_important.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/b/b4/Ambox_important.svg/80px-Ambox_important.svg.png 2x" data-file-width="40" data-file-height="40" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span"><div class="multiple-issues-text mw-collapsible"><b>This article has multiple issues.</b> Please help <b><a href="/wiki/Special:EditPage/Marine_insurance" title="Special:EditPage/Marine insurance">improve it</a></b> or discuss these issues on the <b><a href="/wiki/Talk:Marine_insurance" title="Talk:Marine insurance">talk page</a></b>. <small><i>(<a 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.sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}body.skin--responsive .mw-parser-output .sidebar a>img{max-width:none!important}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><style data-mw-deduplicate="TemplateStyles:r1202158006">.mw-parser-output .law-sidebar .sidebar-heading{background:#aaddff;color:#000}.mw-parser-output .law-sidebar .sidebar-above{font-weight:normal}.mw-parser-output .law-sidebar .sidebar-below{padding:0.4em;border-top:1px #aaa solid;font-weight:normal;font-size:smaller}</style><table class="sidebar nomobile nowraplinks hlist law-sidebar"><tbody><tr><th class="sidebar-title"><a href="/wiki/Admiralty_law" title="Admiralty law">Admiralty law</a></th></tr><tr><td class="sidebar-image"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Nautical_icon.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/7/76/Nautical_icon.svg/80px-Nautical_icon.svg.png" decoding="async" width="80" height="80" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/7/76/Nautical_icon.svg/120px-Nautical_icon.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/7/76/Nautical_icon.svg/160px-Nautical_icon.svg.png 2x" data-file-width="500" data-file-height="500" /></a></span></td></tr><tr><th class="sidebar-heading"> History</th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Code_of_Hammurabi" title="Code of Hammurabi">Code of Hammurabi</a></li> <li><br /><i><a href="/wiki/Corpus_Juris_Civilis" title="Corpus Juris Civilis">Corpus Juris Civilis</a></i> <ul><li><i><a href="/wiki/Digest_(Roman_law)#Contents" title="Digest (Roman law)">Digesta</a></i></li></ul></li> <li><i><a href="/wiki/Ordinamenta_et_consuetudo_maris" title="Ordinamenta et consuetudo maris">Ordinamenta et consuetudo maris</a></i></li> <li><a href="/wiki/Amalfian_Laws" title="Amalfian Laws">Amalfian Laws</a></li> <li><a href="/wiki/Hanseatic_League" title="Hanseatic League">Hanseatic League</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Features</th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Fishing_industry" title="Fishing industry">Fishing</a> <ul><li><a href="/wiki/Illegal,_unreported_and_unregulated_fishing" title="Illegal, unreported and unregulated fishing">Illegal</a></li> <li><a href="/wiki/Fisheries_law" title="Fisheries law">Fisheries law</a></li></ul></li> <li><a href="/wiki/Maritime_transport" title="Maritime transport">Maritime transport</a> <ul><li><a href="/wiki/Freight_transport" title="Freight transport">Shipping</a>/<a href="/wiki/Ferry" title="Ferry">Ferry</a></li> <li><a href="/wiki/Cargo" title="Cargo">Cargo</a></li> <li><a href="/wiki/Freight_rate" title="Freight rate">Freight</a></li> <li><a href="/wiki/Shipbuilding" title="Shipbuilding">Shipbuilding</a></li></ul></li> <li><a href="/wiki/Merchant_navy" title="Merchant navy">Merchant marine</a> <ul><li><a href="/wiki/Cargo_ship" title="Cargo ship">Cargo ship</a></li> <li><a href="/wiki/Passenger_ship" title="Passenger ship">Passenger ship</a></li> <li><a href="/wiki/Ship_mortgage" title="Ship mortgage">Mortgage</a></li> <li><a href="/wiki/Ship_registration" title="Ship registration">Registration</a></li></ul></li> <li><a class="mw-selflink selflink">Marine insurance</a><br /> <ul><li><a href="/wiki/Act_of_God" title="Act of God">Act of God</a></li> <li><a href="/wiki/Shipping_insurance" title="Shipping insurance">Cargo</a></li> <li><a href="/wiki/Ship_collision" title="Ship collision">Collision</a></li> <li><a href="/wiki/General_average" title="General average">General average</a></li> <li><a href="/wiki/Seaworthiness_(law)" title="Seaworthiness (law)">Seaworthiness</a></li> <li><a href="/wiki/Shipwreck" title="Shipwreck">Total loss</a></li></ul></li> <li><a href="/wiki/Maritime_security" title="Maritime security">Maritime security</a> <ul><li><a href="/wiki/Letter_of_marque" title="Letter of marque">Letter of marque</a></li> <li><a href="/wiki/Maritime_drug_trafficking_in_Latin_America" title="Maritime drug trafficking in Latin America">Drugs</a></li> <li><a href="/wiki/Piracy" title="Piracy">Piracy</a></li> <li><a href="/wiki/Marine_pollution" title="Marine pollution">Pollution</a></li> <li><a href="/wiki/Smuggling" title="Smuggling">Smuggling</a></li> <li><a href="/wiki/Prize_(law)" title="Prize (law)">Wartime prizes</a></li></ul></li></ul></td> </tr><tr><th class="sidebar-heading"> <a href="/wiki/Contract_of_carriage" title="Contract of carriage">Contract of carriage</a>/<a href="/wiki/Charterparty" title="Charterparty">Charterparty</a></th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Affreightment" title="Affreightment">Affreightment</a></li> <li><a href="/wiki/Law_of_agency" title="Law of agency">Agency</a></li> <li><a href="/wiki/Barratry_(admiralty_law)" title="Barratry (admiralty law)">Barratry</a></li> <li><a href="/wiki/Bill_of_lading" title="Bill of lading">Bill of lading</a></li> <li><a href="/wiki/Shipbroking" title="Shipbroking">Brokerage</a></li> <li><a href="/wiki/Chartering_(shipping)" title="Chartering (shipping)">Chartering</a></li> <li><a href="/wiki/Consignment" title="Consignment">Consignment</a></li> <li><a href="/wiki/Demurrage" title="Demurrage">Demurrage</a></li> <li><a href="/wiki/Force_majeure" title="Force majeure">Force majeure</a></li> <li><a href="/wiki/Invoice" title="Invoice">Invoice</a> <ul><li><a href="/wiki/Commercial_invoice" title="Commercial invoice">Commercial</a></li> <li><i><a href="/wiki/Pro_forma" title="Pro forma">Pro forma</a></i></li></ul></li> <li><a href="/wiki/Laytime" title="Laytime">Laytime</a></li> <li><a href="/wiki/Lien" title="Lien">Lien</a> <ul><li><a href="/wiki/Maritime_lien" title="Maritime lien">Maritime</a></li></ul></li> <li><a href="/wiki/Manifest_(transportation)" title="Manifest (transportation)">Manifest</a></li> <li><a href="/wiki/Receipt" title="Receipt">Packing list</a></li> <li><a href="/wiki/Proof_of_delivery" title="Proof of delivery">Proof of delivery</a></li> <li><a href="/wiki/Marine_salvage" title="Marine salvage">Salvage</a> <ul><li><a href="/wiki/Law_of_salvage" title="Law of salvage">Law</a></li></ul></li> <li><a href="/wiki/Contractual_term" title="Contractual term">Terms</a> <ul><li><a href="/wiki/Incoterms" title="Incoterms">International</a></li></ul></li> <li><a href="/wiki/Waybill" title="Waybill">Waybill</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Parties</th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Shipping_agency" title="Shipping agency">Agent</a> <ul><li><a href="/wiki/Factor_(agent)" title="Factor (agent)">Factor</a></li> <li><a href="/wiki/Freight_forwarder" title="Freight forwarder">Freight forwarder</a></li></ul></li> <li><a href="/wiki/Sea_captain" title="Sea captain">Captain (Master)</a> <ul><li><a href="/wiki/The_captain_goes_down_with_the_ship" title="The captain goes down with the ship">The captain goes down with the ship</a></li></ul></li> <li><a href="/wiki/Common_carrier" title="Common carrier">Carrier</a><br /> <ul><li><a href="/wiki/Chartering_(shipping)" title="Chartering (shipping)">Charterer</a></li> <li><a href="/wiki/Freight_company" title="Freight company">Freight company</a></li> <li><a href="/wiki/Ship_management" title="Ship management">Manager</a></li></ul></li> <li><a href="/wiki/Consignee" title="Consignee">Consignee</a></li> <li><a href="/wiki/Consignor" title="Consignor">Consignor</a></li> <li><a href="/wiki/Principal_(commercial_law)" title="Principal (commercial law)">Principal</a></li> <li><a href="/wiki/Ship-owner" title="Ship-owner">Owner</a></li> <li><a href="/wiki/Seaman_status_in_United_States_admiralty_law" title="Seaman status in United States admiralty law">Seaman</a> <ul><li><a href="/wiki/Mutiny" title="Mutiny">Mutiny</a></li></ul></li> <li><a href="/wiki/Stevedore" class="mw-redirect" title="Stevedore">Stevedore</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Judiciaries</th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Admiralty_court" title="Admiralty court">Admiralty court</a></li> <li><a href="/wiki/Vice_admiralty_court" title="Vice admiralty court">Vice admiralty court</a></li></ul></td> </tr><tr><th class="sidebar-heading"> International conventions</th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Hague-Visby_Rules" class="mw-redirect" title="Hague-Visby Rules">Hague-Visby Rules</a></li> <li><a href="/wiki/Hamburg_Rules" title="Hamburg Rules">Hamburg Rules</a></li> <li><a href="/wiki/Rotterdam_Rules" title="Rotterdam Rules">Rotterdam Rules</a></li> <li><a href="/wiki/Maritime_Labour_Convention" title="Maritime Labour Convention">Maritime Labour Convention</a></li> <li><a href="/wiki/International_Convention_on_Salvage" title="International Convention on Salvage">International Convention on Salvage</a></li> <li><div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/United_Nations_Convention_on_the_Law_of_the_Sea" title="United Nations Convention on the Law of the Sea">United Nations Convention on <br /> the Law of the Sea <span style="font-size:85%;">(UNCLOS)</span></a></div> <ul><li><a href="/wiki/International_piracy_law" title="International piracy law">International piracy law</a></li></ul></li> <li><a href="/wiki/SOLAS_Convention" title="SOLAS Convention">SOLAS Convention</a></li> <li><a href="/wiki/MARPOL_73/78" title="MARPOL 73/78">MARPOL Convention</a></li> <li><a href="/wiki/Ballast_Water_Management_Convention" title="Ballast Water Management Convention">Ballast Water Management Convention</a></li> <li><a href="/wiki/International_Convention_on_the_Control_of_Harmful_Anti-fouling_Systems_on_Ships" title="International Convention on the Control of Harmful Anti-fouling Systems on Ships">Anti-fouling Convention</a></li> <li><a href="/wiki/International_Convention_on_Load_Lines" title="International Convention on Load Lines">International Convention on Load Lines</a></li> <li><div style="display:inline-block; padding:0.2em 0.4em; line-height:1.2em;"><a href="/wiki/International_Regulations_for_Preventing_Collisions_at_Sea" title="International Regulations for Preventing Collisions at Sea">International Regulations for<br /> Preventing Collisions at Sea</a></div></li> <li><a href="/wiki/International_Convention_on_Maritime_Search_and_Rescue" title="International Convention on Maritime Search and Rescue">SAR Convention</a></li> <li><a href="/wiki/Athens_Convention" title="Athens Convention">Athens Convention</a></li></ul></td> </tr><tr><th class="sidebar-heading"> International organizations</th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/International_Maritime_Organization" title="International Maritime Organization">International Maritime Organization</a></li> <li><a href="/wiki/Comit%C3%A9_Maritime_International" title="Comité Maritime International">Comité Maritime International</a></li> <li><a href="/wiki/London_Maritime_Arbitrators_Association" title="London Maritime Arbitrators Association">London Maritime Arbitrators Association</a></li></ul></td> </tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Admiralty_law" title="Template:Admiralty law"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Admiralty_law" title="Template talk:Admiralty law"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Admiralty_law" title="Special:EditPage/Template:Admiralty law"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Marine insurance</b> covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> Cargo insurance is the sub-branch of marine insurance,<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> though marine insurance also includes onshore and offshore exposed property, (<a href="/wiki/Container_terminal" class="mw-redirect" title="Container terminal">container terminals</a>, ports, <a href="/wiki/Oil_platform" title="Oil platform">oil platforms</a>, pipelines), hull, marine casualty, and marine losses. When goods are transported by mail or courier or related post, <a href="/wiki/Shipping_insurance" title="Shipping insurance">shipping insurance</a> is used instead. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/History_of_insurance" title="History of insurance">History of insurance</a></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Banker_(ancient)#Mesopotamia" title="Banker (ancient)">Banker (ancient) § Mesopotamia</a></div> <p>In December 1901 and January 1902, at the direction of archaeologist <a href="/wiki/Jacques_de_Morgan" title="Jacques de Morgan">Jacques de Morgan</a>, <a href="/wiki/Friar" title="Friar">Father</a> <a href="/wiki/Jean-Vincent_Scheil" title="Jean-Vincent Scheil">Jean-Vincent Scheil</a>, <a href="/wiki/Dominican_Order" title="Dominican Order">OP</a> found a 2.25-metre (89 in) tall <a href="/wiki/Basalt" title="Basalt">basalt</a> or <a href="/wiki/Diorite" title="Diorite">diorite</a> <a href="/wiki/Stele" title="Stele">stele</a> in three pieces inscribed with <a href="/wiki/Code_of_Hammurabi" title="Code of Hammurabi">4,130 lines</a> of <a href="/wiki/Cuneiform_law" title="Cuneiform law">cuneiform law</a> dictated by <a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (<abbr title="circa">c.</abbr><span style="white-space:nowrap;"> 1792</span>–1750 BC) of the <a href="/wiki/First_Babylonian_Empire" class="mw-redirect" title="First Babylonian Empire">First Babylonian Empire</a> in the city of <a href="/wiki/Shush,_Iran" title="Shush, Iran">Shush, Iran</a>.<sup id="cite_ref-Louvre_4-0" class="reference"><a href="#cite_note-Louvre-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Scheil_p._12_5-0" class="reference"><a href="#cite_note-Scheil_p._12-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Roth_1995_pp._15–24_6-0" class="reference"><a href="#cite_note-Roth_1995_pp._15–24-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Code of Hammurabi Law 100 stipulated <a href="/wiki/Debt#Repayment" title="Debt">repayment</a> by a <a href="/wiki/Debtor" title="Debtor">debtor</a> of a <a href="/wiki/Loan" title="Loan">loan</a> to a <a href="/wiki/Banker_(ancient)" title="Banker (ancient)">creditor</a> on a <a href="/wiki/Repayment_plan" title="Repayment plan">schedule</a> with a <a href="/wiki/Maturity_date" class="mw-redirect" title="Maturity date">maturity date</a> specified in <a href="/wiki/Contract" title="Contract">written</a> <a href="/wiki/Contractual_term" title="Contractual term">contractual terms</a>. Laws 101 and 102 stipulated that a <a href="/wiki/Shipping_agency" title="Shipping agency">shipping agent</a>, <a href="/wiki/Factor_(agent)" title="Factor (agent)">factor</a>, or <a href="/wiki/Chartered_company" title="Chartered company">ship charterer</a> was only required to repay the <a href="/wiki/Debt#Principal" title="Debt">principal</a> of a loan to their <a href="/wiki/Creditor" title="Creditor">creditor</a> in the event of a <a href="/wiki/Net_income" title="Net income">net income</a> loss or a <a href="/wiki/Shipwreck" title="Shipwreck">total loss</a> due to an <a href="/wiki/Act_of_God" title="Act of God">Act of God</a>. Law 103 stipulated that an agent, factor, or charterer was by <i><a href="/wiki/Force_majeure" title="Force majeure">force majeure</a></i> <a href="/wiki/Debt_relief" title="Debt relief">relieved</a> of their <a href="/wiki/Legal_liability" title="Legal liability">liability</a> for an entire loan in the event that the agent, factor, or charterer was the victim of <a href="/wiki/Theft" title="Theft">theft</a> during the term of their <a href="/wiki/Charterparty" title="Charterparty">charterparty</a> upon provision of an <a href="/wiki/Affidavit" title="Affidavit">affidavit</a> of the theft to their creditor.<sup id="cite_ref-Sommer_1903_pp._75–76_7-0" class="reference"><a href="#cite_note-Sommer_1903_pp._75–76-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Harper_1904_p._35_8-0" class="reference"><a href="#cite_note-Harper_1904_p._35-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-King_1910_9-0" class="reference"><a href="#cite_note-King_1910-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>Code of Hammurabi Law 104 stipulated that a <a href="/wiki/Common_carrier" title="Common carrier">carrier</a> (agents, factors, or charterers) issue a <a href="/wiki/Waybill" title="Waybill">waybill</a> and <a href="/wiki/Invoice" title="Invoice">invoice</a> for a <a href="/wiki/Contract_of_carriage" title="Contract of carriage">contract of carriage</a> to a <a href="/wiki/Consignee" title="Consignee">consignee</a> outlining contractual terms for <a href="/wiki/Sales" title="Sales">sales</a>, <a href="/wiki/Commission_(remuneration)" title="Commission (remuneration)">commissions</a>, and <a href="/wiki/Laytime" title="Laytime">laytime</a> and receive a <a href="/wiki/Receipt" title="Receipt">bill of parcel</a> and <a href="/wiki/Maritime_lien" title="Maritime lien">lien</a> authorizing <a href="/wiki/Consignment" title="Consignment">consignment</a> from the consignee. Law 105 stipulated that <a href="/wiki/Complaint" title="Complaint">claims for losses</a> filed by agents, factors, and charterers without receipts were without <a href="/wiki/Standing_(law)" title="Standing (law)">standing</a>.<sup id="cite_ref-Sommer_1903_pp._75–76_7-1" class="reference"><a href="#cite_note-Sommer_1903_pp._75–76-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Harper_1904_p._35_8-1" class="reference"><a href="#cite_note-Harper_1904_p._35-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-King_1910_9-1" class="reference"><a href="#cite_note-King_1910-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> Law 126 stipulated that filing a <a href="/wiki/Insurance_fraud" title="Insurance fraud">false claim of a loss</a> was punishable by law.<sup id="cite_ref-Sommer_1903_p._78_10-0" class="reference"><a href="#cite_note-Sommer_1903_p._78-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Harper_1904_pp._43–45_11-0" class="reference"><a href="#cite_note-Harper_1904_pp._43–45-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-King_1910_9-2" class="reference"><a href="#cite_note-King_1910-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> Law 235 stipulated that a <a href="/wiki/Shipbuilding" title="Shipbuilding">shipbuilder</a> was liable within one year of construction for the replacement of an <a href="/wiki/Seaworthiness_(law)" title="Seaworthiness (law)">unseaworthy</a> <a href="/wiki/Merchant_ship" title="Merchant ship">vessel</a> to the <a href="/wiki/Ship-owner" title="Ship-owner">ship-owner</a> that was <a href="/wiki/Shipwreck" title="Shipwreck">lost</a> during the term of a charterparty. Laws 236 and 237 stipulated that a <a href="/wiki/Sea_captain" title="Sea captain">sea captain</a>, <a href="/wiki/Technical_management" title="Technical management">ship-manager</a>, or charterer was liable for the replacement of a lost vessel and cargo to the shipowner and consignees respectively that was <a href="/wiki/Negligence" title="Negligence">negligently</a> operated during the term of a charterparty. Law 238 stipulated that a captain, manager, or charterer that <a href="/wiki/General_average" title="General average">saved a ship from total loss</a> was <a href="/wiki/Pro_rata" title="Pro rata">only required to pay one-half the value of the ship</a> to the shipowner. Law 240 stipulated that the owner of a <a href="/wiki/Cargo_ship" title="Cargo ship">cargo ship</a> that destroyed a <a href="/wiki/Passenger_ship" title="Passenger ship">passenger ship</a> in a <a href="/wiki/Ship_collision" title="Ship collision">collision</a> was liable for replacement of the passenger ship and cargo it held upon provision of an affidavit of the collision by the owner of the passenger ship.<sup id="cite_ref-Sommer_1903_pp._85–86_12-0" class="reference"><a href="#cite_note-Sommer_1903_pp._85–86-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Harper_1904_pp._83–85_13-0" class="reference"><a href="#cite_note-Harper_1904_pp._83–85-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-King_1910_9-3" class="reference"><a href="#cite_note-King_1910-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>In the <i><a href="/wiki/Digest_(Roman_law)" title="Digest (Roman law)">Digesta seu Pandectae</a></i> (533), the second volume of the <a href="/wiki/Corpus_Juris_Civilis" title="Corpus Juris Civilis">codification of laws ordered</a> by <a href="/wiki/Justinian_I" title="Justinian I">Justinian I</a> (527–565) of the <a href="/wiki/Byzantine_Empire" title="Byzantine Empire">Eastern Roman Empire</a>, a <a href="/wiki/Legal_opinion" title="Legal opinion">legal opinion</a> written by the <a href="/wiki/Roman_law" title="Roman law">Roman jurist</a> <a href="/wiki/Julius_Paulus" title="Julius Paulus">Paulus</a> at the beginning of the <a href="/wiki/Crisis_of_the_Third_Century" title="Crisis of the Third Century">Crisis of the Third Century</a> in 235 AD was included about the <i><a href="/wiki/List_of_Roman_laws" title="List of Roman laws">Lex Rhodia</a></i> ("Rhodian law")<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> that articulates the <a href="/wiki/General_average" title="General average">general average principle</a> of marine insurance established on the island of <a href="/wiki/Rhodes" title="Rhodes">Rhodes</a> in approximately 1000 to 800 BC as a member of the <a href="/wiki/Doric_Hexapolis" title="Doric Hexapolis">Doric Hexapolis</a>, plausibly by the <a href="/wiki/Phoenicia" title="Phoenicia">Phoenicians</a> during the proposed <a href="/wiki/Dorian_invasion" title="Dorian invasion">Dorian invasion</a> and emergence of the purported <a href="/wiki/Sea_Peoples" title="Sea Peoples">Sea Peoples</a> during the <a href="/wiki/Greek_Dark_Ages" title="Greek Dark Ages">Greek Dark Ages</a> (<abbr title="circa">c.</abbr><span style="white-space:nowrap;"> 1100</span> – c.<span style="white-space:nowrap;"> 750</span>) that led to the proliferation of the <a href="/wiki/Doric_Greek" title="Doric Greek">Doric Greek</a> <a href="/wiki/Ancient_Greek_dialects" title="Ancient Greek dialects">dialect</a>.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Prudential_pp._5–6_17-0" class="reference"><a href="#cite_note-Prudential_pp._5–6-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Duhaime_18-0" class="reference"><a href="#cite_note-Duhaime-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> The law of general average constitutes the fundamental <a href="/wiki/Principle" title="Principle">principle</a> that underlies all <a href="/wiki/Insurance" title="Insurance">insurance</a>.<sup id="cite_ref-Prudential_pp._5–6_17-1" class="reference"><a href="#cite_note-Prudential_pp._5–6-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p><p>The oldest hedging instruments to mitigate risk in medieval times were sea/marine (Mutuum) loans, <a href="/wiki/Commenda" title="Commenda">commenda</a> contract, and bill of exchanges.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (March 2021)">citation needed</span></a></i>]</sup> Separate marine insurance contracts were developed near <a href="/wiki/Genoa" title="Genoa">Genoa</a>, in Camogli<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> in 1853 and other Italian cities in the fourteenth century and spread to northern Europe. Premiums varied with intuitive estimates of the variable risk from seasons and pirates.<sup id="cite_ref-Frabook_20-0" class="reference"><a href="#cite_note-Frabook-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> Modern marine insurance law originated in the <span title="Latin-language text"><i lang="la"><a href="/wiki/Law_merchant" class="mw-redirect" title="Law merchant">Lex mercatoria</a></i></span> (law merchant). In 1601, a specialized chamber of assurance separate from the other Courts was established in England. By the end of the seventeenth century, London's growing importance as a centre for trade was increasing demand for marine insurance. In the late 1680s, Edward Lloyd opened <a href="/wiki/Lloyd%27s_Coffee_House" title="Lloyd's Coffee House">a coffee house</a> on <a href="/wiki/Great_Tower_Street" title="Great Tower Street">Tower Street</a> in <a href="/wiki/London" title="London">London</a>. It soon became a popular haunt for ship owners, merchants, and ships' captains, and thereby a reliable source of the latest shipping news.<sup id="cite_ref-ODNB_Palmer_21-0" class="reference"><a href="#cite_note-ODNB_Palmer-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Lloyd%27s_Coffee_House" title="Lloyd's Coffee House">Lloyd's Coffee House</a> was the first marine insurance market. It became the meeting place for parties in the shipping industry wishing to insure cargoes and ships, and those willing to underwrite such ventures. These informal beginnings led to the establishment of the insurance market <a href="/wiki/Lloyd%27s_of_London" title="Lloyd's of London">Lloyd's of London</a> and several related shipping and insurance businesses. The participating members of the insurance arrangement eventually formed a committee and moved to the <a href="/wiki/Royal_Exchange_(London)" class="mw-redirect" title="Royal Exchange (London)">Royal Exchange</a> on <a href="/wiki/Cornhill,_London" title="Cornhill, London">Cornhill</a> as the <a href="/wiki/Lloyd%27s_of_London" title="Lloyd's of London">Society of Lloyd's</a>. The establishment of insurance companies, a developing infrastructure of specialists (such as <a href="/wiki/Shipbroking" title="Shipbroking">shipbrokers</a>, <a href="/wiki/Admiralty_law" title="Admiralty law">admiralty</a> lawyers, bankers, surveyors, loss adjusters, general average adjusters, <i>et al.</i>), and the growth of the <a href="/wiki/British_Empire" title="British Empire">British Empire</a> gave English law a prominence in this area which it largely maintains and forms the basis of almost all modern practice. <a href="/wiki/William_Murray,_1st_Earl_of_Mansfield" title="William Murray, 1st Earl of Mansfield">Lord Mansfield</a>, <a href="/wiki/Lord_Chief_Justice" class="mw-redirect" title="Lord Chief Justice">Lord Chief Justice</a> in the mid-eighteenth century, began the merging of law merchant and <a href="/wiki/Common_law" title="Common law">common law</a> principles. The growth of the London insurance market led to the standardization of policies and judicial <a href="/wiki/Precedent" title="Precedent">precedent</a> further developed marine insurance law. In 1906 the <a href="/wiki/Marine_Insurance_Act_1906" title="Marine Insurance Act 1906">Marine Insurance Act</a> <a href="/wiki/Codification_(law)" title="Codification (law)">codified</a> the previous common law; it is both an extremely thorough and concise piece of work. Although the title of the Act refers to marine insurance, the general principles have been applied to all non-life insurance. In the 19th century, Lloyd's and the Institute of London Underwriters (a grouping of London company insurers) developed between them standardized clauses for the use of marine insurance, and these have been maintained since. These are known as the Institute Clauses because the Institute covered the cost of their publication. Out of marine insurance, grew non-marine insurance and <a href="/wiki/Reinsurance" title="Reinsurance">reinsurance</a>. Marine insurance traditionally formed the majority of business underwritten at <a href="/wiki/Lloyd%27s_of_London" title="Lloyd's of London">Lloyd's</a>. Nowadays, Marine insurance is often grouped with Aviation and Transit (cargo) risks, and in this form is known by the acronym 'MAT'. </p><p>It is common for marine insurance agencies to compete with the offerings provided by local insurers. These specialist agencies often fill market gaps by providing cover for hard-to-place or obscure marine insurance risks that would otherwise be difficult or impossible to find insurance cover for. These agencies can become quite large and eventually become market makers. They operate best when their day-to-day management is independent of the insurers who provide them with the capital to underwrite risks on their behalf. </p><p>As of 2020, the Nordic region was the largest provider of marine hull insurance at 14% of the world market, China second at 12.4% and <a href="/wiki/Lloyd%27s_of_London" title="Lloyd's of London">Lloyd's of London</a> third at 8.6%, according to the <a href="/w/index.php?title=International_Union_of_Marine_Insurance&action=edit&redlink=1" class="new" title="International Union of Marine Insurance (page does not exist)">International Union of Marine Insurance</a>.<sup id="cite_ref-lloydslist-20210906_22-0" class="reference"><a href="#cite_note-lloydslist-20210906-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Practice">Practice</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=2" title="Edit section: Practice"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Marine Insurance Act includes, as a schedule, a standard policy (known as the "SG form"), which parties were at liberty to use if they wished. Because each term in the policy had been tested through at least two centuries of judicial precedent, the policy was extremely thorough. However, it was also expressed in rather archaic terms. In 1991, the London market produced a new standard policy wording known as the MAR 91 form using the Institute Clauses. The MAR form is simply a general statement of insurance; the Institute Clauses are used to set out the detail of the insurance cover. In practice, the policy document usually consists of the MAR form used as a cover, with the Clauses stapled to the inside. Typically, each clause will be stamped, with the stamp overlapping both onto the inside cover and to other clauses; this practice is used to avoid the substitution or removal of clauses. Because marine insurance is typically underwritten on a subscription basis, the MAR form begins: <i>We, the Underwriters, agree to bind ourselves each for his own part and not one for another [...]</i>. In legal terms, liability under the policy is <a href="/wiki/Joint_and_several_liability" title="Joint and several liability"><b>several</b> and not <b>joint</b></a>, i.e., the underwriters are all liable together, but only for their share or proportion of the risk. If one underwriter should default, the remainder are not liable to pick his share of the claim. Typically, marine insurance is split between the vessels and the cargo. Insurance of the vessels is generally known as "Hull and Machinery" (H&M). A more restricted form of cover is "Total Loss Only" (TLO), generally used as a reinsurance, which only covers the total loss of the vessel and not any partial loss. Cover may be on either a "voyage" or "time" basis. The "voyage" basis covers transit between the ports set out in the policy; the "time" basis covers a period, typically one year, and is more common. </p> <div class="mw-heading mw-heading2"><h2 id="Protection_and_indemnity">Protection and indemnity</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=3" title="Edit section: Protection and indemnity"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Protection_and_indemnity_insurance" title="Protection and indemnity insurance">Protection and indemnity insurance</a></div> <p>A marine policy typically covered only three-quarter of the insured's liabilities towards third parties (Institute Time Clauses Hulls 1.10.83). The typical liabilities arise in respect of collision with another ship, known as "running down" (collision with a fixed object is an "allision"), and wreck removal (a wreck may serve to block a harbour, for example). In the 19th century, shipowners banded together in <a href="/wiki/Mutual_insurance" title="Mutual insurance">mutual underwriting clubs</a> known as <a href="/wiki/Protection_and_indemnity_insurance" title="Protection and indemnity insurance">Protection and Indemnity Clubs</a> (P&I), to insure the remaining one-quarter liability amongst themselves. These Clubs are still in existence today and have become the model for other specialized and noncommercial marine and non-marine mutuals, for example in relation to oil pollution and nuclear risks. Clubs work on the basis of agreeing to accept a shipowner as a member and levying an initial "call" (premium). With the fund accumulated, reinsurance will be purchased; however, if the loss experience is unfavourable one or more "supplementary calls" may be made. Clubs also typically try to build up reserves, but this puts them at odds with their mutual status. Because liability regimes vary throughout the world, insurers are usually careful to limit or exclude American <a href="/wiki/Merchant_Marine_Act_of_1920" title="Merchant Marine Act of 1920">Jones Act</a> liability. </p> <div class="mw-heading mw-heading2"><h2 id="Actual_total_loss_and_constructive_total_loss">Actual total loss and constructive total loss</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=4" title="Edit section: Actual total loss and constructive total loss"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Total_loss" title="Total loss">Total loss</a></div> <p>These two terms are used to differentiate the degree of proof that a vessel or cargo has been lost. An <b>actual total loss</b> occurs when the property has been destroyed, or so damaged as to cease to be a thing of the kind insured. A <b>constructive total loss</b> is a situation in which the cost of repairs plus the cost of salvage equal or exceed the value.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> The use of these terms is contingent on there being property remaining to assess damages, which is not always possible in losses to ships at sea or in total theft situations. In this respect, marine insurance differs from non-marine insurance, with which the insured is required to prove his loss. Traditionally, in law, marine insurance was seen as an insurance of "the adventure", with insurers having a stake and an interest in the vessel and/or the cargo rather than simply an interest in the financial consequences of the subject-matter's survival. </p> <div class="mw-heading mw-heading3"><h3 id="Constructive_total_loss">Constructive total loss</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=5" title="Edit section: Constructive total loss"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The term "constructive total loss", or CTL, was used by the <a href="/wiki/United_States_Navy" title="United States Navy">United States Navy</a> during and after <a href="/wiki/World_War_II" title="World War II">World War II</a> to describe naval vessels that were damaged to such an extent that they were beyond economical repair. This was most often applied to small-type ships (<a href="/wiki/Destroyer" title="Destroyer">destroyer</a>, patrol boats, landing ships, mine warfare vessels, etc.) in 1945, the last year of the war, many of which were damaged by <a href="/wiki/Kamikaze" title="Kamikaze">kamikazes</a>; postwar the term was also used for ships damaged in typhoons. By this time enough ships were available for the war that some could be disposed of if severely damaged.<sup id="cite_ref-FriedmanSubs1_25-0" class="reference"><a href="#cite_note-FriedmanSubs1-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="General_averages">General averages</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=6" title="Edit section: General averages"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><i>Average</i> in marine insurance terms is "an equitable apportionment among all the interested parties of such an expense or loss". </p><p><b>General average</b> stands apart for marine insurance. In order for <i>general average</i> to be properly declared, 1) there must be an event which is beyond the shipowner's control, which imperils the entire adventure; 2) there must be a voluntary sacrifice, 3) there must be something saved. The voluntary sacrifice might be the jettison of certain cargo, the use of tugs, or salvors, or damage to the ship, be it, voluntary grounding, knowingly working the engines that will result in damages. <i><a href="/wiki/General_average" title="General average">General average</a></i> requires all parties concerned in the maritime venture (hull/cargo/freight/bunkers) to contribute to make good the voluntary sacrifice. They share the expense in proportion to the 'value at risk" in the adventure. <i>Particular average</i> is the term applied to partial loss be it hull or cargo. </p><p><b>Average</b> – is the situation in which the insured has under-insured, i.e., insured an item for less than it is worth. Average will apply to reduce the claim amount payable. An <i>average adjuster</i> is a marine claims specialist responsible for adjusting and providing the general average statement. An Average Adjuster in North America is a 'member of the association of Average Adjusters' To ensure the fairness of the adjustment a General Average adjuster is appointed by the shipowner and paid by the insurer. </p> <div class="mw-heading mw-heading2"><h2 id="Excess,_deductible,_retention,_co-insurance,_and_franchise"><span id="Excess.2C_deductible.2C_retention.2C_co-insurance.2C_and_franchise"></span>Excess, deductible, retention, co-insurance, and franchise</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=7" title="Edit section: Excess, deductible, retention, co-insurance, and franchise"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>An excess is the amount payable by the insured and is usually expressed as the first amount falling due, up to a ceiling, in the event of a loss. An excess may or may not be applied. It may be expressed in either monetary or percentage terms. An excess is typically used to discourage <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a> and to remove <a href="/wiki/Small_claims" class="mw-redirect" title="Small claims">small claims</a>, which are disproportionately expensive to handle. The term "excess" signifies the "deductible" or "retention". </p><p>A co-insurance, which typically governs non-proportional treaty reinsurance, is an excess expressed as a proportion of a claim in percentage terms and applied to the entirety of a claim. Co-insurance is a penalty imposed on the insured by the insurance carrier for under reporting/declaring/insuring the value of tangible property or business income. The penalty is based on a percentage stated within the policy and the amount under reported. As an example: a vessel actually valued at $1,000,000 has an 80% co-insurance clause but is insured for only $750,000. Since its insured value is less than 80% of its actual value, when it suffers a loss, the insurance payout will be subject to the under-reporting penalty, the insured will receive 750000/1000000th (75%) of the claim made less the deductible. </p> <div class="mw-heading mw-heading2"><h2 id="Tonners_and_chinamen">Tonners and chinamen</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=8" title="Edit section: Tonners and chinamen"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>These are both obsolete forms of early reinsurance. Both are technically unlawful, as not having <a href="/wiki/Insurable_interest" title="Insurable interest">insurable interest</a>, and so were unenforceable in law. Policies were typically marked P.P.I. (Policy is Proof of Interest). Their use continued into the 1970s before they were banned by Lloyd's, the main market, by which time they had become nothing more than crude bets. A "tonner" was simply a "policy" setting out the global gross tonnage loss for a year. If that loss was reached or exceeded, the policy paid out. A "chinaman" applied the same principle but in reverse: thus, if the limit was not reached, the policy paid out. </p> <div class="mw-heading mw-heading2"><h2 id="Specialist_policies">Specialist policies</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=9" title="Edit section: Specialist policies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Various specialist policies exist, including: </p> <ul><li><b>Newbuilding risks:</b> This covers the risk of damage to the hull while it is under construction.</li> <li><b>Open Cargo</b> or <b>Shipper's Interest Insurance</b>: This policy may be purchased by a carrier, freight broker, or shipper, as coverage for the shipper's goods. In the event of loss or damage, this type of insurance<sup id="cite_ref-Hartford_26-0" class="reference"><a href="#cite_note-Hartford-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> will pay for the true value of the shipment, rather than only the legal amount that the carrier is liable for.</li> <li>Annual Cover: is issued for twelve month period subject to at inception of a minimum deposit premium. Often used by regular shippers of goods such as importers and exporters including freight forwarding agents, where a policy is issued to cover a number of consignments being shipped to and from various ports and destinations throughout the year</li> <li><b>Yacht Insurance:</b> Insurance of pleasure craft is generally known as "<a href="/wiki/Yacht" title="Yacht">yacht</a> insurance" and includes liability coverage. Smaller vessels such as yachts and fishing vessels are typically underwritten on a "binding authority" or "line slip" basis.</li> <li><b>War risks:</b> General hull insurance does not cover the risks of a vessel sailing into a war zone. A typical example is the risk to a tanker sailing in the <a href="/wiki/Persian_Gulf" title="Persian Gulf">Persian Gulf</a> during the <a href="/wiki/Gulf_War" title="Gulf War">Gulf War</a>. The war risks areas are established by the London-based <a href="/w/index.php?title=Joint_War_Committee&action=edit&redlink=1" class="new" title="Joint War Committee (page does not exist)">Joint War Committee</a>.</li> <li><b>Increased Value (IV):</b> Increased Value cover protects the shipowner against any difference between the insured value of the vessel and the market value of the vessel.</li> <li><b>Overdue insurance:</b> This is a form of insurance now largely obsolete due to advances in communications. It was an early form of reinsurance and was bought by an insurer when a ship was late at arriving at her destination port and there was a risk that she might have been lost (but, equally, might simply have been delayed). The overdue insurance of the <a href="/wiki/RMS_Titanic" class="mw-redirect" title="RMS Titanic"><i>Titanic</i></a> was famously underwritten on the doorstep of <a href="/wiki/Lloyd%27s_of_London" title="Lloyd's of London">Lloyd's</a>.</li> <li><b>Cargo insurance: </b> Cargo insurance is underwritten on the Institute Cargo Clauses, with coverage on an <b>A</b>, <b>B</b>, or <b>C</b> basis, <b>A</b> having the widest cover and <b>C</b> the most restricted. Valuable cargo is known as <a href="/wiki/Money" title="Money">specie</a>. Institute Clauses also exist for the insurance of specific types of cargo, such as <a href="/wiki/Frozen_food" title="Frozen food">frozen food</a>, frozen meat, and particular commodities such as bulk oil, <a href="/wiki/Coal" title="Coal">coal</a>, and <a href="/wiki/Jute" title="Jute">jute</a>. Often these insurance conditions are developed for a specific group as is the case with the Institute Federation of Oils, Seeds and Fats Associations (FOFSA) Trades Clauses which have been agreed with the Federation of Oils, Seeds and Fats Associations and Institute Commodity Trades Clauses which are used for the insurance of shipments of <a href="/wiki/Cocoa_bean" title="Cocoa bean">cocoa</a>, <a href="/wiki/Coffee" title="Coffee">coffee</a>, <a href="/wiki/Cotton" title="Cotton">cotton</a>, fats and oils, hides and skins, metals, <a href="/wiki/Oil_seeds" class="mw-redirect" title="Oil seeds">oil seeds</a>, <a href="/wiki/Refined_sugar" class="mw-redirect" title="Refined sugar">refined sugar</a>, and <a href="/wiki/Tea" title="Tea">tea</a> and have been agreed with the Federation of Commodity Associations. There has also been discussion about insurance policies to address <a href="/wiki/Plastic_pollution" title="Plastic pollution">plastic pollution</a> as a result of plastic cargo losses at sea. For example, marine insurance policies should factor in liability for <a href="/wiki/Marine_plastic_pollution" title="Marine plastic pollution">marine plastic pollution</a>, marine clean-up and conservation.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup></li></ul> <div class="mw-heading mw-heading2"><h2 id="Warranties_and_conditions">Warranties and conditions</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=10" title="Edit section: Warranties and conditions"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A peculiarity of marine insurance, and insurance law generally, is the use of the terms <b><a href="/wiki/Contractual_term#Condition_or_Warranty" title="Contractual term">condition</a></b> and <b><a href="/wiki/Warranty" title="Warranty">warranty</a></b>. In English law, a condition typically describes a part of the contract that is fundamental to the performance of that contract, and, if breached, the non-breaching party is entitled not only to claim damages but to terminate the contract on the basis that it has been repudiated by the party in breach. </p><p>By contrast, a warranty is not fundamental to the performance of the contract and breach of a warranty, while giving rise to a claim for damages, does not entitle the non-breaching party to terminate the contract. The meaning of these terms is reversed in insurance law. Indeed, a warranty if not strictly complied with will automatically discharge the insurer from further liability under the contract of insurance. The assured has no defense to his breach, unless he can prove that the insurer, by his conduct, has waived his right to invoke the breach, possibility provided in section 34(3) of the Marine Insurance Act 1906 (MIA). Furthermore, in the absence of express warranties the MIA will imply them, notably a warranty to provide a seaworthy vessel at the commencement of the voyage in a voyage policy (section 39(1)) and a warranty of legality of the insured voyage (section 41).<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Salvage_and_prizes">Salvage and prizes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=11" title="Edit section: Salvage and prizes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The term "<a href="/wiki/Marine_salvage" title="Marine salvage">salvage</a>" refers to the practice of rendering aid to a vessel in distress. Apart from the consideration that the sea is traditionally "a place of safety", with sailors honour-bound to render assistance as required, it is obviously in underwriters' interests to encourage assistance to vessels in danger of being wrecked. A policy will usually include a "sue and labour" clause which will cover the reasonable costs incurred by a shipowner in his avoiding a greater loss. </p><p>At sea, a ship in distress will typically agree to "<a href="/wiki/Lloyd%27s_Open_Form" title="Lloyd's Open Form">Lloyd's Open Form</a>" with any potential salvor. The Lloyd's Open Form (LOF) is the standard contract, although other forms exist. The Lloyd's Open Form is headed "No cure — no pay"; the intention being that if the attempted salvage is unsuccessful, no award will be made. However, this principle has been weakened in recent years, and awards are now permitted in cases where, although the ship might have sunk, pollution has been avoided or mitigated. </p><p>In other circumstances the "salvor" may invoke the SCOPIC terms (most recent and commonly used rendition is SCOPIC 2000) in contrast to the LOF these terms mean that the salvor will be paid even if the salvage attempt is unsuccessful. The amount the salvor receives is limited to cover the costs of the salvage attempt and 25% above it. One of the main negative factors in invoking SCOPIC (on the salvor's behalf) is if the salvage attempt is successful the amount at which the salvor can claim under article 13 of LOF is discounted. </p><p>The Lloyd's Open Form, once agreed, allows salvage attempts to begin immediately. The extent of any award is determined later; although the standard wording refers to the Chairman of Lloyd's arbitrating any award, in practice the role of arbitrator is passed to specialist admiralty <a href="/wiki/Queen%27s_Counsel" class="mw-redirect" title="Queen's Counsel">QCs</a>. A ship captured in war is referred to as a prize, and the captors entitled to <a href="/wiki/Prize_money" title="Prize money">prize money</a>. Again, this risk is covered by standard policies. </p> <div class="mw-heading mw-heading2"><h2 id="Marine_Insurance_Act,_1906"><span id="Marine_Insurance_Act.2C_1906"></span>Marine Insurance Act, 1906</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=12" title="Edit section: Marine Insurance Act, 1906"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Globalize plainlinks metadata ambox ambox-content ambox-globalize" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="Globe icon." src="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/48px-Ambox_globe_content.svg.png" decoding="async" width="48" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/73px-Ambox_globe_content.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/97px-Ambox_globe_content.svg.png 2x" data-file-width="350" data-file-height="290" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">The examples and perspective in this section <b>may not represent a <a href="/wiki/Wikipedia:WikiProject_Countering_systemic_bias" title="Wikipedia:WikiProject Countering systemic bias">worldwide view</a> of the subject</b>.<span class="hide-when-compact"> You may <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Marine_insurance&action=edit">improve this section</a>, discuss the issue on the <a href="/wiki/Talk:Marine_insurance" title="Talk:Marine insurance">talk page</a>, or create a new section, as appropriate.</span> <span class="date-container"><i>(<span class="date">October 2016</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Marine_Insurance_Act_1906" title="Marine Insurance Act 1906">Marine Insurance Act 1906</a></div><p> The most important sections of this Act include::§4: a policy without insurable interest is void.:§17: imposes a duty on the insured of <i><a href="/wiki/Uberrima_fides" title="Uberrima fides">uberrimae fides</a></i> (as opposed to <i><a href="/wiki/Caveat_emptor" title="Caveat emptor">caveat emptor</a></i>), i.e., that questions must be answered honestly and the risk not misrepresented.:§18: the proposer of the insurer has a duty to disclose all material facts relevant to the acceptance and rating of the risk. Failure to do so is known as <i>non-disclosure</i> or <i>concealment</i> (there are minor differences in the two terms) and renders the insurance voidable by the insurer.:§33(3): <i>If [a warranty] be not [exactly] complied with, then, subject to any express provision in the policy, the insurer is discharged from liability as from the date of the breach of warranty, but without prejudice to any liability incurred by him before that date.</i>:§34(2): where a warranty has been broken, it is no defense to the insured that the breach has been remedied, and the warranty complied with, prior to the loss.:§34(3): a breach of warranty may be <i>waived</i> (ignored) by the insurer.:§39(1): implied warranty that the vessel must be seaworthy at the start of her voyage and for the purpose of it (<i>voyage policy</i> only).:§39(5): no warranty that a vessel shall be seaworthy during the policy period (<i>time</i> policy). However, if the assured knowingly allows an unseaworthy vessel to set sail the insurer is not liable for losses caused by unseasworthiness.:§50: a policy may be <a href="/wiki/Assignment_(law)" title="Assignment (law)">assigned</a>. Typically, a shipowner might assign the benefit of a policy to the ship-mortgagor.:§§60-63: deals with the issues of a constructive total loss. The insured can, by notice, claim for a constructive total loss with the insurer becoming entitled to the ship or cargo if it should later turn up. (By contrast an <i>actual total loss</i> describes the physical destruction of a vessel or cargo.):§79: deals with <a href="/wiki/Subrogation" title="Subrogation">subrogation</a>, i.e., the rights of the insurer to stand in the shoes of an <a href="/wiki/Indemnity" title="Indemnity">indemnified</a> insured and recover salvage for his own benefit. Schedule 1 of the Act contains a list of definitions; schedule 2 contains the model policy wording. </p><p>Australia has adopted an amended version of this Act, being the Marine Insurance Act 1909. </p> <div class="mw-heading mw-heading2"><h2 id="Claims_basis_and_deductibles">Claims basis and deductibles</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=13" title="Edit section: Claims basis and deductibles"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Marine insurance is always written on an occurrence basis, covering claims that arise out of damage or injury that took place during the policy period, regardless when claims are made. Policy features often include extensions of coverage for items typical to a marine business such as liability for container damage and removal of debris. </p><p>A deductible is the first amount of a claim that the policy holders bears themselves. There can occasionally be a zero deductible but in most cases a deductible applies to claims made under a policy of marine insurance. </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=14" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/CEFOR" title="CEFOR">CEFOR</a></li> <li><a href="/wiki/History_of_insurance" title="History of insurance">History of insurance</a></li> <li><a href="/wiki/Classification_society" class="mw-redirect" title="Classification society">Classification society</a></li> <li><a href="/wiki/Receiver_of_Wreck" title="Receiver of Wreck">Legal definitions of wreckage</a></li> <li><a href="/wiki/Inland_marine_insurance" title="Inland marine insurance">Inland marine insurance</a></li> <li><a href="/wiki/Seaworthiness_(law)" title="Seaworthiness (law)">Seaworthiness (law)</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=15" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://thelawdictionary.org/marine-insurance/">"MARINE INSURANCE Definition & Legal Meaning"</a>. <i><a href="/wiki/Black%27s_Law_Dictionary" title="Black's Law Dictionary">Black's Law Dictionary</a></i> (2nd ed.)<span class="reference-accessdate">. Retrieved <span class="nowrap">January 24,</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Black%27s+Law+Dictionary&rft.atitle=MARINE+INSURANCE+Definition+%26+Legal+Meaning&rft_id=https%3A%2F%2Fthelawdictionary.org%2Fmarine-insurance%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://thelawdictionary.org/insurance-marine/">"INSURANCE MARINE Definition & Legal Meaning"</a>. <i><a href="/wiki/Black%27s_Law_Dictionary" title="Black's Law Dictionary">Black's Law Dictionary</a></i> (2nd ed.)<span class="reference-accessdate">. Retrieved <span class="nowrap">January 24,</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Black%27s+Law+Dictionary&rft.atitle=INSURANCE+MARINE+Definition+%26+Legal+Meaning&rft_id=https%3A%2F%2Fthelawdictionary.org%2Finsurance-marine%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://thelawdictionary.org/cargo-insurance/">"CARGO INSURANCE Definition & Legal Meaning"</a>. <i><a href="/wiki/Black%27s_Law_Dictionary" title="Black's Law Dictionary">Black's Law Dictionary</a></i> (2nd ed.)<span class="reference-accessdate">. Retrieved <span class="nowrap">January 24,</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Black%27s+Law+Dictionary&rft.atitle=CARGO+INSURANCE+Definition+%26+Legal+Meaning&rft_id=https%3A%2F%2Fthelawdictionary.org%2Fcargo-insurance%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-Louvre-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-Louvre_4-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLouvren.d." class="citation web cs1"><a href="/wiki/Louvre" title="Louvre">Louvre</a> (n.d.). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20201205050436/http://www.louvre.fr/en/oeuvre-notices/law-code-hammurabi-king-babylon">"Law Code of Hammurabi, king of Babylon"</a>. <i>louvre.fr</i>. <a href="/wiki/Louvre" title="Louvre">Louvre</a>, Department of Near Eastern Antiquities: Mesopotamia. Archived from <a rel="nofollow" class="external text" href="https://www.louvre.fr/en/oeuvre-notices/law-code-hammurabi-king-babylon">the original</a> on 5 December 2020<span class="reference-accessdate">. Retrieved <span class="nowrap">16 February</span> 2021</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=louvre.fr&rft.atitle=Law+Code+of+Hammurabi%2C+king+of+Babylon&rft.au=Louvre&rft_id=https%3A%2F%2Fwww.louvre.fr%2Fen%2Foeuvre-notices%2Flaw-code-hammurabi-king-babylon&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-Scheil_p._12-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-Scheil_p._12_5-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFScheil1902" class="citation book cs1 cs1-prop-long-vol"><a href="/wiki/Jean-Vincent_Scheil" title="Jean-Vincent Scheil">Scheil, Jean-Vincent</a> (1902). <a rel="nofollow" class="external text" href="https://archive.org/stream/mmoires04franuoft#mode/1up"><i>Mémoires de la Délégation en Perse</i></a>. Vol. 4: Textes élamites-sémitiques. <a href="/wiki/Paris" title="Paris">Paris</a>: Ernest Leroux. p. 12. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780483463967" title="Special:BookSources/9780483463967"><bdi>9780483463967</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=M%C3%A9moires+de+la+D%C3%A9l%C3%A9gation+en+Perse&rft.place=Paris&rft.pages=12&rft.pub=Ernest+Leroux&rft.date=1902&rft.isbn=9780483463967&rft.aulast=Scheil&rft.aufirst=Jean-Vincent&rft_id=https%3A%2F%2Farchive.org%2Fstream%2Fmmoires04franuoft%23mode%2F1up&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-Roth_1995_pp._15–24-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-Roth_1995_pp._15–24_6-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRoth1995" class="citation journal cs1">Roth, Martha T. 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Translated by Sommer, Otto. <a href="/wiki/Washington,_D.C." title="Washington, D.C.">Washington, D.C.</a>: <a href="/wiki/Records_of_the_Past_Exploration_Society" title="Records of the Past Exploration Society">Records of the Past Exploration Society</a>: <a rel="nofollow" class="external text" href="https://archive.org/details/cu31924060109703/page/n15/mode/2up">75–76</a><span class="reference-accessdate">. Retrieved <span class="nowrap">June 20,</span> 2021</span>. <q>100. Anyone borrowing money shall ... a subsequent claim therefor.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Records+of+the+Past&rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&rft.volume=2&rft.issue=3&rft.pages=75-76&rft.date=1903&rft.au=Hammurabi&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcu31924060109703%2Fmode%2F2up&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-Harper_1904_p._35-8"><span class="mw-cite-backlink">^ <a href="#cite_ref-Harper_1904_p._35_8-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Harper_1904_p._35_8-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHammurabi1904" class="citation web cs1"><a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (1904). <a rel="nofollow" class="external text" href="https://oll-resources.s3.us-east-2.amazonaws.com/oll3/store/titles/1276/0762_Bk.pdf">"Code of Hammurabi, King of Babylon"</a> <span class="cs1-format">(PDF)</span>. <i><a href="/wiki/Liberty_Fund" title="Liberty Fund">Liberty Fund</a></i>. Translated by Harper, Robert Francis (2nd ed.). <a href="/wiki/Chicago" title="Chicago">Chicago</a>: <a href="/wiki/University_of_Chicago_Press" title="University of Chicago Press">University of Chicago Press</a>. p. <a rel="nofollow" class="external text" href="https://oll.libertyfund.org/title/hammurabi-the-code-of-hammurabi#lf0762_label_321">35</a><span class="reference-accessdate">. Retrieved <span class="nowrap">June 20,</span> 2021</span>. <q>§100. ...he shall write down ... god and go free.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Liberty+Fund&rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&rft.pages=35&rft.date=1904&rft.au=Hammurabi&rft_id=https%3A%2F%2Foll-resources.s3.us-east-2.amazonaws.com%2Foll3%2Fstore%2Ftitles%2F1276%2F0762_Bk.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-King_1910-9"><span class="mw-cite-backlink">^ <a href="#cite_ref-King_1910_9-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-King_1910_9-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-King_1910_9-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-King_1910_9-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHammurabi1910" class="citation web cs1"><a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (1910). <a rel="nofollow" class="external text" href="https://avalon.law.yale.edu/ancient/hamframe.asp">"Code of Hammurabi, King of Babylon"</a>. <i><a href="/wiki/Avalon_Project" title="Avalon Project">Avalon Project</a></i>. 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Translated by Sommer, Otto. <a href="/wiki/Washington,_D.C." title="Washington, D.C.">Washington, D.C.</a>: <a href="/wiki/Records_of_the_Past_Exploration_Society" title="Records of the Past Exploration Society">Records of the Past Exploration Society</a>: <a rel="nofollow" class="external text" href="https://archive.org/details/cu31924060109703/page/n19/mode/2up">78</a><span class="reference-accessdate">. Retrieved <span class="nowrap">June 20,</span> 2021</span>. <q>126. If anyone deprived of ... right so to do].</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Records+of+the+Past&rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&rft.volume=2&rft.issue=3&rft.pages=78&rft.date=1903&rft.au=Hammurabi&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcu31924060109703%2Fmode%2F2up&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-Harper_1904_pp._43–45-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-Harper_1904_pp._43–45_11-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHammurabi1904" class="citation web cs1"><a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (1904). <a rel="nofollow" class="external text" href="https://oll-resources.s3.us-east-2.amazonaws.com/oll3/store/titles/1276/0762_Bk.pdf">"Code of Hammurabi, King of Babylon"</a> <span class="cs1-format">(PDF)</span>. <i><a href="/wiki/Liberty_Fund" title="Liberty Fund">Liberty Fund</a></i>. 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If a man have ... he had made claim.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Liberty+Fund&rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&rft.pages=43-45&rft.date=1904&rft.au=Hammurabi&rft_id=https%3A%2F%2Foll-resources.s3.us-east-2.amazonaws.com%2Foll3%2Fstore%2Ftitles%2F1276%2F0762_Bk.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-Sommer_1903_pp._85–86-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-Sommer_1903_pp._85–86_12-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHammurabi1903" class="citation journal cs1"><a href="/wiki/Hammurabi" title="Hammurabi">Hammurabi</a> (1903). <a rel="nofollow" class="external text" href="https://archive.org/details/cu31924060109703/mode/2up">"Code of Hammurabi, King of Babylon"</a>. <i>Records of the Past</i>. <b>2</b> (3). 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If a boatman build ... and whatever was lost.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Liberty+Fund&rft.atitle=Code+of+Hammurabi%2C+King+of+Babylon&rft.pages=83-85&rft.date=1904&rft.au=Hammurabi&rft_id=https%3A%2F%2Foll-resources.s3.us-east-2.amazonaws.com%2Foll3%2Fstore%2Ftitles%2F1276%2F0762_Bk.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://insuranceranked.com/business-insurance/lex-rhodia-rhodian-sea-law">"Lex Rhodia - The Ancient Ancestor of Maritime Law - 800 BC"</a>. <i>History of Insurance</i><span class="reference-accessdate">. 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Who owes what may come down to ancient laws from Greece"</a>. CNN<span class="reference-accessdate">. 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It is provided by the <i>Lex Rhodia</i> that if merchandise is thrown overboard for the purpose of lightening a ship, the loss is made good by the assessment of all which is made for the benefit of all.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Constitution.org&rft.atitle=The+Civil+Law%2C+Volume+I%2C+The+Opinions+of+Julius+Paulus%2C+Book+II&rft.date=1932&rft_id=https%3A%2F%2Fconstitution.org%2F2-Authors%2Fsps%2Fsps01_4-2.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-Prudential_pp._5–6-17"><span class="mw-cite-backlink">^ <a href="#cite_ref-Prudential_pp._5–6_17-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Prudential_pp._5–6_17-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation book cs1"><a rel="nofollow" class="external text" href="https://archive.org/details/cu31924030231736/mode/2up"><i>The Documentary History of Insurance, 1000 B.C.–1875 A.D.</i></a> <a href="/wiki/Newark,_New_Jersey" title="Newark, New Jersey">Newark, NJ</a>: <a href="/wiki/Prudential_Financial" title="Prudential Financial">Prudential Press</a>. 1915. pp. <a rel="nofollow" class="external text" href="https://archive.org/details/cu31924030231736/page/n7/mode/2up">5–6</a><span class="reference-accessdate">. Retrieved <span class="nowrap">June 15,</span> 2021</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Documentary+History+of+Insurance%2C+1000+B.C.%E2%80%931875+A.D.&rft.place=Newark%2C+NJ&rft.pages=5-6&rft.pub=Prudential+Press&rft.date=1915&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcu31924030231736%2Fmode%2F2up&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-Duhaime-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-Duhaime_18-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.duhaime.org/LawMuseum/LawArticle-383/Lex-Rhodia-The-Ancient-Ancestor-of-Maritime-Law-800--BC.aspx">"Duhaime's Timetable of World Legal History"</a>. <i>Duhaime's Law Dictionary</i><span class="reference-accessdate">. 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Baltimore: Johns Hopkins University Press. pp. 273–278. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-8018-6569-7" title="Special:BookSources/0-8018-6569-7"><bdi>0-8018-6569-7</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Science+of+Conjecture%3A+Evidence+and+Probability+Before+Pascal&rft.place=Baltimore&rft.pages=273-278&rft.pub=Johns+Hopkins+University+Press&rft.date=2001&rft.isbn=0-8018-6569-7&rft.aulast=Franklin&rft.aufirst=James&rft_id=https%3A%2F%2Fbooks.google.com%2Fbooks%3Fid%3D1zDECQAAQBAJ&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-ODNB_Palmer-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-ODNB_Palmer_21-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPalmer2007" class="citation encyclopaedia cs1">Palmer, Sarah (October 2007). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20110715030319/http://press.oxforddnb.com/index/16/101016829/">"Lloyd, Edward (<i>c</i>.1648–1713)"</a>. <i><a href="/wiki/Dictionary_of_National_Biography#Oxford_Dictionary_of_National_Biography" title="Dictionary of National Biography">Oxford Dictionary of National Biography</a></i> (online ed.). 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"Marine Insurance - Constructive Total Loss". <i>New Zealand Maritime Law Journal</i>. <b>6</b>: 47.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=New+Zealand+Maritime+Law+Journal&rft.atitle=Marine+Insurance+-+Constructive+Total+Loss&rft.volume=6&rft.pages=47&rft.date=1989&rft.aulast=Smithq&rft.aufirst=D.A.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-FriedmanSubs1-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-FriedmanSubs1_25-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFStille2016" class="citation book cs1">Stille, Mark (2016). <i>U.S. Navy Ships vs. Kamikazes: 1944-45</i>. Oxford: Osprey. pp. 68–70. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-4728-1273-5" title="Special:BookSources/978-1-4728-1273-5"><bdi>978-1-4728-1273-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=U.S.+Navy+Ships+vs.+Kamikazes%3A+1944-45&rft.place=Oxford&rft.pages=68-70&rft.pub=Osprey&rft.date=2016&rft.isbn=978-1-4728-1273-5&rft.aulast=Stille&rft.aufirst=Mark&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-Hartford-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-Hartford_26-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHartford2016" class="citation web cs1">Hartford, The (May 2016). <a rel="nofollow" class="external text" href="https://www.thehartford.com/marine-insurance">"Ocean Marine Insurance"</a>. <i>The Hartford Ocean Marine Insurance</i>. The Hartford Financial Services Group, Inc<span class="reference-accessdate">. Retrieved <span class="nowrap">16 May</span> 2016</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Hartford+Ocean+Marine+Insurance&rft.atitle=Ocean+Marine+Insurance&rft.date=2016-05&rft.aulast=Hartford&rft.aufirst=The&rft_id=https%3A%2F%2Fwww.thehartford.com%2Fmarine-insurance&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFNwaforWalker2020" class="citation journal cs1">Nwafor, Ndubuisi. A; Walker, Tony R. (1 October 2020). "Rethinking marine insurance and plastic pollution: food for thought". <i>Resources, Conservation and Recycling</i>. <b>161</b>: 104950. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1016%2Fj.resconrec.2020.104950">10.1016/j.resconrec.2020.104950</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:219748078">219748078</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Resources%2C+Conservation+and+Recycling&rft.atitle=Rethinking+marine+insurance+and+plastic+pollution%3A+food+for+thought&rft.volume=161&rft.pages=104950&rft.date=2020-10-01&rft_id=info%3Adoi%2F10.1016%2Fj.resconrec.2020.104950&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A219748078%23id-name%3DS2CID&rft.aulast=Nwafor&rft.aufirst=Ndubuisi.+A&rft.au=Walker%2C+Tony+R.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span></span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text">see also: <i>Bank of Nova Scotia v. Hellenic Mutual War Risks Association (Bermuda) Ltd. ("The Good Luck")</i> [1991] 2 WLR 1279 and at 1294-5</span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=16" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Birds, J. <i> Birds' Modern Insurance Law</i>. Sweet & Maxwell, 2004. (<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-421-87800-2" title="Special:BookSources/0-421-87800-2">0-421-87800-2</a>)</li> <li>Donaldson, Ellis, Wilson (Editor), Cooke (Editor), <i>Lowndes and Rudolf: Law of General Average and the York-Antwerp Rules</i>. Sweet & Maxwell, 1990. (<link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-420-46930-3" title="Special:BookSources/0-420-46930-3">0-420-46930-3</a>)</li> <li>John, A. H. "The London Assurance Company and the Marine Insurance Market of the Eighteenth Century," <i>Economica</i> New Series, Vol. 25, No. 98 (May 1958), pp. 126–141 <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2551021">in JSTOR</a></li> <li>Roover, Florence Edler de. "Early Examples of Marine Insurance," <i>Journal of Economic History</i> Vol. 5, No. 2 (Nov., 1945), pp. 172–200 <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/2114075">in JSTOR</a></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWilson,_DJ,_Donaldson1997" class="citation book cs1">Wilson, DJ, Donaldson (1997). <i>Lowndes and Rudolf: General Average and the York-Antwerp Rules</i>. British Shipping Law Library: Sweet & Maxwell. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-421-56450-4" title="Special:BookSources/0-421-56450-4"><bdi>0-421-56450-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Lowndes+and+Rudolf%3A+General+Average+and+the+York-Antwerp+Rules&rft.place=British+Shipping+Law+Library&rft.pub=Sweet+%26+Maxwell&rft.date=1997&rft.isbn=0-421-56450-4&rft.au=Wilson%2C+DJ%2C+Donaldson&rfr_id=info%3Asid%2Fen.wikipedia.org%3AMarine+insurance" class="Z3988"></span><span class="cs1-maint citation-comment"><code class="cs1-code">{{<a href="/wiki/Template:Cite_book" title="Template:Cite book">cite book</a>}}</code>: CS1 maint: multiple names: authors list (<a href="/wiki/Category:CS1_maint:_multiple_names:_authors_list" title="Category:CS1 maint: multiple names: authors list">link</a>)</span></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Marine_insurance&action=edit&section=17" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>UK case relating to <a rel="nofollow" class="external text" href="https://web.archive.org/web/20070216124026/http://www.hmcourts-service.gov.uk/HMCSJudgments/View.do?id=4135">legal definitions</a> (<i>The No. 1 Dae Bu</i>)</li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output 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style="width:1%">Types of <br />insurance</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Health_insurance" title="Health insurance">Health</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Accident_insurance" title="Accident insurance">Accident</a></li> <li><a href="/wiki/Accidental_death_and_dismemberment_insurance" title="Accidental death and dismemberment insurance">Accidental death and dismemberment</a></li> <li><a href="/wiki/Dental_insurance" title="Dental insurance">Dental</a></li> <li><a href="/wiki/Disability_insurance" title="Disability insurance">Disability</a> <ul><li><a href="/wiki/Total_permanent_disability_insurance" title="Total permanent disability 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title="Protection and indemnity insurance">Protection and indemnity</a></li> <li><a href="/wiki/Surety" title="Surety">Surety</a></li> <li><a href="/wiki/Trade_credit_insurance" title="Trade credit insurance">Trade credit</a></li> <li><a href="/wiki/Umbrella_insurance" title="Umbrella insurance">Umbrella</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Residential</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Boiler_insurance" class="mw-redirect" title="Boiler insurance">Boiler</a></li> <li><a href="/wiki/Builder%27s_risk_insurance" title="Builder's risk insurance">Builder's risk</a></li> <li><a href="/wiki/Contents_insurance" title="Contents insurance">Contents</a></li> <li><a href="/wiki/Earthquake_insurance" title="Earthquake insurance">Earthquake</a></li> <li><a href="/wiki/Flood_insurance" title="Flood insurance">Flood</a></li> <li><a href="/wiki/Home_insurance" title="Home insurance">Home</a></li> <li><a href="/wiki/Landlords%27_insurance" title="Landlords' insurance">Landlords'</a></li> <li><a href="/wiki/Lenders_mortgage_insurance" title="Lenders mortgage insurance">Lenders mortgage</a></li> <li><a href="/wiki/Mortgage_insurance" title="Mortgage insurance">Mortgage</a></li> <li><a href="/wiki/Property_insurance" title="Property insurance">Property</a></li> <li><a href="/wiki/Renters%27_insurance" title="Renters' insurance">Renters'</a></li> <li><a href="/wiki/Title_insurance" title="Title insurance">Title</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Transport/<br />Communication</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aviation_insurance" title="Aviation insurance">Aviation</a></li> <li><a href="/wiki/GAP_insurance" title="GAP insurance">GAP insurance</a></li> <li><a href="/wiki/Inland_marine_insurance" title="Inland marine insurance">Inland marine</a></li> <li><a href="/wiki/Public_auto_insurance" title="Public auto insurance">Public auto</a></li> <li><a class="mw-selflink selflink">Marine</a></li> <li><a href="/wiki/Satellite_insurance" title="Satellite insurance">Satellite</a></li> <li><a href="/wiki/Shipping_insurance" title="Shipping insurance">Shipping</a></li> <li><a href="/wiki/Travel_insurance" title="Travel insurance">Travel</a></li> <li><a href="/wiki/Vehicle_insurance" title="Vehicle insurance">Vehicle</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Other</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Reinsurance" title="Reinsurance">Reinsurance</a> <ul><li><a href="/wiki/Catastrophe_bond" title="Catastrophe bond">Catastrophe bond</a></li> <li><a href="/wiki/Insurance-linked_security" title="Insurance-linked security">Insurance-linked securities</a></li></ul></li> <li><a href="/wiki/Casualty_insurance" title="Casualty insurance">Casualty</a></li> <li><a href="/wiki/Climate_risk_insurance" title="Climate risk insurance">Climate risk</a></li> <li><a href="/wiki/Insurance#Casualty_insurance" title="Insurance">Crime</a></li> <li><a href="/wiki/Crop_insurance" title="Crop insurance">Crop</a> <ul><li><a href="/wiki/Catastrophic_crop_insurance" title="Catastrophic crop insurance">Catastrophic</a></li> <li><a href="/wiki/Multi-peril_crop_insurance" title="Multi-peril crop insurance">Multi-peril</a></li></ul></li> <li><a href="/wiki/Cyber_insurance" title="Cyber insurance">Cyber</a></li> <li><a href="/wiki/Deposit_insurance" title="Deposit insurance">Deposit</a></li> <li><a href="/wiki/Expatriate_insurance" title="Expatriate insurance">Expatriate</a></li> <li><a href="/wiki/Extended_warranty" title="Extended warranty">Extended warranty</a></li> <li><a href="/wiki/Group_insurance" title="Group insurance">Group</a></li> <li><a href="/wiki/Index-based_insurance" title="Index-based insurance">Index-based</a> <ul><li><a href="/wiki/Parametric_insurance" title="Parametric insurance">Parametric</a></li></ul></li> <li><a href="/wiki/Interest_rate_insurance" title="Interest rate insurance">Interest rate</a></li> <li><a href="/wiki/Kidnap_and_ransom_insurance" title="Kidnap and ransom insurance">Kidnap and ransom</a></li> <li><a href="/wiki/Legal_expenses_insurance" title="Legal expenses insurance">Legal expenses</a></li> <li><a href="/wiki/Liability_insurance" title="Liability insurance">Liability</a></li> <li><a href="/wiki/No-fault_insurance" title="No-fault insurance">No-fault</a></li> <li><a href="/wiki/Pet_insurance" title="Pet insurance">Pet</a></li> <li><a href="/wiki/Political_risk_insurance" title="Political risk insurance">Political risk</a></li> <li><a href="/wiki/Prize_indemnity_insurance" title="Prize indemnity insurance">Prize 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href="/wiki/Actuarial_science" title="Actuarial science">Actuarial science</a> <ul><li><a href="/wiki/Actuary" title="Actuary">Actuary</a></li> <li><a href="/wiki/Adverse_selection" title="Adverse selection">Adverse selection</a></li> <li><a href="/wiki/Risk" title="Risk">Risk</a></li> <li><a href="/wiki/Risk_assessment" title="Risk assessment">Risk assessment</a></li> <li><a href="/wiki/Risk_management" title="Risk management">Risk management</a></li> <li><a href="/wiki/Uncertainty" title="Uncertainty">Uncertainty</a>/<a href="/wiki/Knightian_uncertainty" title="Knightian uncertainty">Knightian</a></li> <li><a href="/wiki/Value_of_life" title="Value of life">Value of life</a></li></ul></li> <li><a href="/wiki/Actual_cash_value" title="Actual cash value">Actual cash value</a></li> <li><a href="/wiki/Cash_value" title="Cash value">Cash value</a></li> <li><a href="/wiki/Insurance_broker" title="Insurance broker">Broker</a></li> <li><a href="/wiki/Cancellation_(insurance)" title="Cancellation (insurance)">Cancellation</a> <ul><li><i><a href="/wiki/Pro_rata" title="Pro rata">Pro rata</a></i></li> <li>Short rate table</li></ul></li> <li><a href="/wiki/Cause_of_action" title="Cause of action">Claim</a> <ul><li><a href="/wiki/Claims_adjuster" class="mw-redirect" title="Claims adjuster">Claims adjuster</a></li></ul></li> <li><a href="/wiki/Deductible" title="Deductible">Deductible</a> <ul><li><a href="/wiki/Co-insurance" title="Co-insurance">Co-insurance</a></li> <li><a href="/wiki/Copayment" title="Copayment">Copayment</a></li> <li><a href="/wiki/Out-of-pocket_expense" title="Out-of-pocket expense">Out-of-pocket expense</a></li></ul></li> <li><a href="/wiki/Explanation_of_benefits" title="Explanation of benefits">Explanation of benefits</a></li> <li><i><a href="/wiki/Force_majeure" title="Force majeure">Force majeure</a></i></li> <li><a href="/wiki/General_average" title="General average">General average</a></li> <li><a href="/wiki/Indemnity" title="Indemnity">Indemnity</a></li> <li><a href="/wiki/Insurability" title="Insurability">Insurability</a></li> <li><a href="/wiki/Insurable_interest" title="Insurable interest">Insurable interest</a></li> <li><a href="/wiki/Insurance_fraud" title="Insurance fraud">Insurance fraud</a></li> <li><a href="/wiki/Proximate_cause" title="Proximate cause">Proximate cause</a></li> <li><a href="/wiki/Replacement_value" title="Replacement value">Replacement value</a></li> <li><a href="/wiki/Risk_pool" title="Risk pool">Risk pool</a></li> <li><a href="/wiki/Self-insurance" title="Self-insurance">Self-insurance</a></li> <li><a href="/wiki/Total_loss" title="Total loss">Total loss</a></li> <li><a href="/wiki/Underinsured" title="Underinsured">Underinsurance</a></li> <li><a href="/wiki/Underwriting" title="Underwriting">Underwriting</a> <ul><li><a href="/wiki/Underwriting_profit" title="Underwriting profit">Profit</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Insurance <br />by country</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Insurance_in_Australia" title="Insurance in Australia">Australia</a></li> <li><a href="/wiki/Insurance_industry_in_China" title="Insurance industry in China">China</a></li> <li><a href="/wiki/Insurance_in_India" title="Insurance in India">India</a></li> <li><a href="/wiki/Insurance_in_Pakistan" title="Insurance in Pakistan">Pakistan</a></li> <li><a href="/wiki/Insurance_in_Serbia" title="Insurance in Serbia">Serbia</a></li> <li><a href="/wiki/Insurance_in_the_United_Kingdom" title="Insurance in the United Kingdom">United Kingdom</a></li> <li><a href="/wiki/Insurance_in_the_United_States" title="Insurance in the United States">United States</a> <ul><li><a href="/wiki/Climate_change_and_insurance_in_the_United_States" title="Climate change and insurance in the United States">Climate change</a></li> <li><a href="/wiki/Health_insurance_in_the_United_States" title="Health insurance in the United States">Health insurance</a></li> <li><a href="/wiki/Health_insurance_costs_in_the_United_States" title="Health insurance costs in the United States">Health insurance costs</a></li> <li><a href="/wiki/Health_insurance_coverage_in_the_United_States" title="Health insurance coverage in the United States">Health insurance coverage</a></li> <li><a href="/wiki/Vehicle_insurance_in_the_United_States" title="Vehicle insurance in the United States">Vehicle insurance</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/History_of_insurance" title="History of insurance">History</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Banker_(ancient)" title="Banker (ancient)">Mesopotamian banker</a></li> <li><a href="/wiki/Code_of_Hammurabi" title="Code of Hammurabi">Code of Hammurabi</a> <ul><li><a class="mw-selflink selflink">§100–105; §126</a>; <a href="/wiki/Labour_law" title="Labour law">§234</a>; <a class="mw-selflink selflink">§235–238; §240</a>; <a href="/wiki/Labour_law" title="Labour law">§275–277</a></li></ul></li> <li><i><a href="/wiki/Collegium_(ancient_Rome)" title="Collegium (ancient Rome)">Collegium</a></i> <ul><li><a href="/wiki/Burial_society" title="Burial society">Burial society</a></li> <li><a href="/wiki/Guild" title="Guild">Guild</a></li></ul></li> <li><i><a href="/wiki/Corpus_Juris_Civilis" title="Corpus Juris Civilis">Corpus Juris Civilis</a></i> <ul><li><i><a href="/wiki/Digest_(Roman_law)" title="Digest (Roman law)">Digesta</a></i></li></ul></li> <li><a href="/wiki/Syndicate" title="Syndicate">Syndicate</a></li> <li><a href="/wiki/Benefit_society" title="Benefit society">Benefit</a>/<a href="/wiki/Friendly_society" title="Friendly society">Friendly society</a> <ul><li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li> <li><a href="/wiki/Cooperative_banking" title="Cooperative banking">Cooperative banking</a></li> <li><a href="/wiki/Credit_union" title="Credit union">Credit union</a></li> <li><a href="/wiki/Fraternal_order" title="Fraternal order">Fraternal order</a></li> <li><a href="/wiki/Mutual_organization" title="Mutual organization">Mutual organization</a></li> <li><a href="/wiki/Mutual_savings_bank" title="Mutual savings bank">Mutual savings bank</a></li> <li><a href="/wiki/Rochdale_Principles" title="Rochdale Principles">Rochdale Principles</a></li> <li><a href="/wiki/Savings_and_loan_association" title="Savings and loan association">Savings and loan association</a></li> <li><a href="/wiki/Social_insurance" title="Social insurance">Social insurance</a></li> <li><a href="/wiki/Trade_union" title="Trade union">Trade union</a></li></ul></li> <li><a href="/wiki/Insurance_cycle" title="Insurance cycle">Insurance cycle</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><b><a href="/wiki/Category:Insurance" title="Category:Insurance">Category</a></b></li> <li><b><a href="/wiki/Outline_of_finance#Insurance" title="Outline of finance">List of topics</a></b></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox authority-control" aria-labelledby="Authority_control_databases_frameless&#124;text-top&#124;10px&#124;alt=Edit_this_at_Wikidata&#124;link=https&#58;//www.wikidata.org/wiki/Q1356184#identifiers&#124;class=noprint&#124;Edit_this_at_Wikidata" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><div id="Authority_control_databases_frameless&#124;text-top&#124;10px&#124;alt=Edit_this_at_Wikidata&#124;link=https&#58;//www.wikidata.org/wiki/Q1356184#identifiers&#124;class=noprint&#124;Edit_this_at_Wikidata" style="font-size:114%;margin:0 4em"><a href="/wiki/Help:Authority_control" title="Help:Authority control">Authority control databases</a> <span class="mw-valign-text-top noprint" typeof="mw:File/Frameless"><a href="https://www.wikidata.org/wiki/Q1356184#identifiers" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" src="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" decoding="async" width="10" height="10" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, 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