NEW DEVELOPMENT IN MARINE INSURANCE.
EVERY CARGO POLICY NOW STANDARDISED. (United Press Assn.—By Electric Telegraph—Copyright.) (Received December 9, 9.30 a.m.) LONDON, December 6. . The “Daily Telegraph’’ reports a development unparalleled i the history j : of marine insurances, since Lloyd’s policy was confirmed in 1779. It com > . into operation on January 1 next, when every cargo insurance policy will be standardised, which should benefit ' British trade. The new policy, while following ’ j traditional form, has five additional j clauses, providing for the preventic i of the illicit importation of dangerous drugs, the exclusion of war risks, damage by strikers and men locked out, claims when a voyage is frustrated by “act of Kings, Prince? and peoples,” and the salving or protection of goods without the underwriter Y bilitv.
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Star (Christchurch), Issue 18939, 9 December 1929, Page 1
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127NEW DEVELOPMENT IN MARINE INSURANCE. Star (Christchurch), Issue 18939, 9 December 1929, Page 1
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