Provide an explanation for this things which can be found on Sec 121-137 of Insurance Code of the Philippines particularly on Marine Insurance.
Provide an explanation for this things which can be found on Sec 121-137 of Insurance Code of the Philippines particularly on Marine Insurance.
The Voyage and Deviation
Deviation is a departure of vessel from course of voyage, or an unreasonable delay in pursuing voyage, or the commencement of an entirely different voyage.
Deviation proper
If due to circumstances outside the control of the ship captain or ship owner
If done to comply with a warranty
If made in good faith to avoid a peril
If made to save human life or another distressed vessel
Kinds of Losses
Total Loss
Actual Loss
An actual total loss is caused by:
Total destruction
Loss by sinking
Damage rendering the thing valueless
Total deprivation of owner of possession of thing insured
Complete physical destruction not essential to constitute actual total loss.
Presumption of actual loss
Constructive Loss
Liability of insurer in case of reshipment
When a ship is prevented, at an intermediate port, from completing the voyage, by the perils insured against, the liability of a marine insurer on the cargo continues after they are thus reshipped.
Additional liability of insurer of goods
for damages, expenses of discharging, storage, reshipment, extra freightage, and all other expenses incurred in saving cargo reshipped pursuant to the last section, up to the amount insured.
General Average
include damages and expenses which are deliberately caused by the master of the vessel or upon his authority, in order to save the vessel, her cargo, or both at the same time from a real and known risk.
Principle of General Average Contribution
The owners of the interest benefited by the sacrifice must contribute proportionately to the loss incurred
Right of a Party to Claim General Average Contribution
Common danger
Deliberate sacrifice
Done for common safety
Made by the master
Not caused by fault of the one asking for GAC
Successful
Necessary
Example: Case of Jettison
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