Welcome to Scribd. Sign in or start your free trial to enjoy unlimited e-books, audiobooks & documents.Find out more
Standard view
Full view
of .
Look up keyword or section
Like this
P. 1
Marine Insurance

Marine Insurance

|Views: 3,154|Likes:
Published by asifanis

More info:

Categories:Types, Brochures
Published by: asifanis on Nov 18, 2009
Copyright:Attribution Non-commercial


Read on Scribd mobile: iPhone, iPad and Android.
download as PPT, PDF, TXT or read online from Scribd
See more
See less





Marine Insurance
Prof Mahesh KumarAmity Business Schoolprofmaheshkumar@rediffmail.com
Historically marine insurance were of twotypes:
Bottomary loanwhich was a transactionprotecting an owner from financial loss if hisship was destroyed. Premiums were calculatedon the basis of intuition instead of mathematical estimates.
Respondentia loanswere comparable tobottomary loans. The difference being amerchant would take a loan using cargo as acollateral. The money lender for a premium inaddition to the regular interest charged, agreedto forgive the loan if the cargo was lost.
The Indian Marine Insurance Act came intooperation on August 1, 1963 and is acomprehensive document containing allregulations of marine insurance business in India.
Prior to this Act, the insurance business wasconducted on the basis of the principles of General Contract Act and English MarineInsurance Law.
Marine insurance includes two types of insurancei.e. Cargo insurance and hull insurance.

Activity (98)

You've already reviewed this. Edit your review.
seehari liked this
1 thousand reads
1 hundred reads
Shriram Aryan added this note
superlly written and very helpfull... thanks for uploading this nice materials
Ema Žauhar liked this
captmadhunair liked this
Shankar Sharan Tripathi liked this
Astrid Manzano Fernandez liked this
Pratik Gosavi liked this
Siti Fatimah Joharry liked this

You're Reading a Free Preview

/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->