Professional Documents
Culture Documents
Survey
Survey
INSURANCE
LIFE NON-LIFE
– PRIMARY PRINCIPLES
• PRINCIPLE OF CO-OPERATION
• PRINCIPLE OF PROBABILITY
– LEGAL PRINCIPLES
• INSURABLE INTEREST
• UTMOST GOOD FAITH
• INDEMNITY
• SUBROGATION
• CONTRIBUTION
• CAUSA PROXIMA
• WARRANTIES
WARRANTIES
EXPRESS IMPLIED
WARRANTIE WARRANTIE
S S
Presented by T.S.Shrinivaasan of MAR-TECH
Insurance Surveyors & Loss Assessors Pvt.
Ltd.,
EXPRESSED WARRANTIES
• These are clearly expressed or stated in the
Policy, which must be complied with. For
example:
• Warranted packed in new gunny bags.
• Warranted in new drums.
• Warranted professionally packed.
• Warranted sailing within seven days.
• Warranted shipped under deck.
• Warranted surveyed before shipment.
Presented by T.S.Shrinivaasan of MAR-TECH
Insurance Surveyors & Loss Assessors Pvt.
Ltd.,
IMPLIED WARRANTIES
• These are not expressed but implied and
taken for granted. For example.
• Sea worthiness of the vessel at the
commencement of voyage.
• Legality of the adventure.
• In the Voyage Policy on Goods, there is no
Implied Warranty that the goods insured are
seaworthy.
Presented by T.S.Shrinivaasan of MAR-TECH
Insurance Surveyors & Loss Assessors Pvt.
Ltd.,
IMPLIED WARRANTIES
• These are not expressed but implied and
taken for granted. For example.
• Sea worthiness of the vessel at the
commencement of voyage.
• Legality of the adventure.
• In the Voyage Policy on Goods, there is no
Implied Warranty that the goods insured are
seaworthy.
Presented by T.S.Shrinivaasan of MAR-TECH
Insurance Surveyors & Loss Assessors Pvt.
Ltd.,
Practice of Marine Insurance
• COVERS THREE MAIN INTERESTS in a marine
venture
12 G.A. SACRIFICE
13 EARTHQUAKE/VOLCAN x
O/LIGHTNING
14 LOB/WPrAesenStedHby
I N GIPnRsuESraEO V E R
T .S .Shr inivaa san, Mar -Tec h
nNcTeESDuBrvYeTy.oSr.SsH&RLINoIsVsAAAsSsAesNsors Pvt.
x
MARINE CLAIMS-
ICC CLAUSES (Contd.)
SR. RISKS COVERED A B C
NO.
15 DISCHARGE IN PORT OF
REFUGE/DIISCCTCRLAUESESS
S(Contd.)
16 ROUGH x x
HANDLING(BURSTING OF
BAGS, BREAKAGE,
LEAKAGE,SWEAT,
CONDENSATION, RAIN
WATER, IMPROPER
Marine Claims - Documents
Insurance Policy
Invoice Copy
Damage certificate from carrier
LR/AWB/RR copy with endorsement
Monetary claim on carrier
Carrier’s reply or AD slip
Packing List
Claim Bill
Presented by T.S.Shrinivaasan, Mar-Tech
Insurance Surveyors & Loss Assessors Pvt.
Ltd.,
Surveyor
• Following Surveyors are in the field:
• Marine Surveyor
• Government Surveyor
• Classification Surveyor
• Insurance Surveyor