Commencement of the

Voyage Policy
Voyage
Total destruction must exist

must exist Commencement of every

Time Policy
voyage during stipulated time
Irretrievable loss by sinking
or being broken up
Warranty of must exist Commencement at
Voyage in Stages
Seaworthiness each portion or stage
Damage which renders things
valueless to owner for its purpose
Actual must exist Time the vessel is exposed
Port Policy
to any risk at the port
Any other event which effectively must exist
deprives the owner of possession
Commencement of
Cargo Policy
each particular voyage
Continued absence of the
ship for a considerable
length of time Warranty that the
Presumed Actual Total Implied Caused by circumstances over
Types Ship has Documents of
Loss Warranties which neither the master nor the
Neutrality and
Total owner of the ship has any control
Vessel has not been Nationality
heard of
Necessary to comply with a
warranty, or to avoid a peril
More than 3/4 in value
Warranty against
is actually lost
Improper When Proper
Loss Deviation Made in good faith and upon
reasonable grounds or belief
Injured to such extent as to
necessary to avoid a peril
reduce its value more than 3/4
Warrant against
Constructive
Legality of the Voyage
Made in good faith for purposes
Thing insured is a ship, the voyage cannot be
of saving human life or relieving
lawfully performed without incurring an
another vessel in distress
expense to the insured of more than 3/4 of
value of thing abandoned or a risk a prudent
Partial
man would note take under the circumstances

Actual relinquishment by the person Insured's National

insured of his interest in the thing Character
insured

Liability of Thing
There must me Insures to Capture and
Constructive Total Loss Detention

Marine Exonerates Insurer

Abandonment be neither Liability to Seizure from
partial nor conditional Insurance from a Loss as a Result
Breach of Foreign Law
of the Risk Concealed
to Trade

It must be made within a reasonable Requisites Abandonment

time after receipt of reliable Want of Necessary
information of the loss Documents
Concealment

Must be factual Use of False and

Stimulated Papers

Made by giving notice to insurer

done orally or in writing Knowledge,
at the time of insuring of a prior loss, if
Presumption information might possibly have reached
Notice of abandonment must be explicit and must him in the usual mode of transmission at
specify particular cause of the abandonment the usual rate of communication

Representation
Statements made to give information to
the insurer, and otherwise induce him to Defined
A Common Danger
enter into the insurance contract.
Simple or
Particular Average
For the common safety part of
Only factual representations are covered by the rules Averages
the vessel or of the cargo or
on representation; expectations are not material Expectation
both is sacrificed deliberately
unless will amount to a promissory representation.

General Average Requisites

From the expenses or damages caused
follows the successful saving of the vessel
and cargo

The expenses or damages should have

been incurred or inflicted after taking
proper legal steps and authority