MARINE INSURANCE
MP ORT ANT DEVELOPMENT. CHANGES IN NEW YEAR. LONDON, Dee. 8. The Daily Telegraph reports a development unparalleled in the history of marine insurance since Lloyd’s policy was confirmed in 1779. It comes into operation on January 1 next, when every cargo insurance policy will be standardised, which should benefit British trade. The new policy while following the traditional form has five additional clauses providing for prevention 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 the King’s princes and peoples,” and salving of protection of goo<is without the underwriters admitting liability.
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Bibliographic details
Wanganui Chronicle, Volume 72, Issue 293, 10 December 1929, Page 9
Word Count
113MARINE INSURANCE Wanganui Chronicle, Volume 72, Issue 293, 10 December 1929, Page 9
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