caused by political acts of a seizing state but also by ordinary legal

Caused by political acts of a seizing state but also

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caused by political acts of a seizing state but also by ordinary legal processes such as a lawsuit on ownership/possession PERILS OF THE SEA
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Losses or damages resulting from: Natural/inevitable action of the sea Ordinary wear and tear of a ship Negligent failure of the ship s owner to provide the vessel with proper equipment to convey the cargo under ordinary conditions PERILS OF THE SHIP
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Provision in the policy that the insurance shall cover loss or damage to the hull or machinery through the negligence of the master, charters, mariners, engineers or pilots or through explosions, bursting of boilers, breakage of shafts, or through any latent defect in the hull or machinery not resulting from want of due diligence. INCHMAREE CLAUSE
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Covering against all causes of conceivable loss or damage. Exception: As otherwise excluded in the policy; or Due to fraud or intentional misconduct on the part of the insured. (Choa Tiek v. CA, G.R. No. 84507, Mar. 15, 1990) This type of policy grants greater protection than that afforded by the perils clause. ALL RISKS CLAUSE
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A willful act of the master or crew in pursuance of some fraudulent or unlawful purpose, without the consent of the owner, and to the prejudice of his interest Ex. Burning of the ship, violating of revenue laws, unlawfully selling the cargo Taking at sea, arrests, restraint and detainment of all kings, princess and people Extraordinary acts of a sovereign authority in times of war, or under other unusual international conditions like blockades and embargos BARRATRY
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Of the Ship owner Chartered by one who covenants to pay the ship owner the vessel s value incase of loss Ship owner has mortgaged the vessel to another Of the Charterer To the extent that he is liable to be damnified by its loss INSURABLE INTEREST
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The owner of a ship has in all cases an insurable interest in it , even when it has been chartered by one who covenants to pay him its value in case of loss. The insurer shall be liable for only that part of the loss which the insured cannot recover from the charterer. INSURABLE INTEREST OF THE SHIPOWNER SEC 102, IC
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Loan on Bottomry Loan which is payable only if the vessel given as a security arrives safely at port from the contemplated voyage. Loan on Respondentia Loan which is payable only upon the safe arrival in a port of the goods given as a security LOAN ON BOTTOMRY LOAN ON RESPONDENTIA
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The insurable interest of the owner of the ship hypothecated by bottomry is only the excess of its value over the amount secured by bottomry. (Sec 103, IC) This is so because when the bottomed vessel is lost, the owner need not pay the loan and is therefore benefited to the extent of the amount of the loan obtained and the loss he actually suffers is only the difference between the actual value of the vessel and the bottomry loan. The lender on bottomry has an insurable interest in the vessel given as security to the extent of the loan.
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