Vessels, goods, freight,

cargo, merchandise,
profits, money, valuable
papers, bottomry and
respondentia, and
interest in respect to all
risks or perils of
navigation

Persons or property in
connection with
INSURANCE marine insurance
AGAINST LOSS OF
OR DAMAGE TO:
Precious stones, jewels,
jewelry and precious
metals whether in the
course of
COVERAGE transportation or
otherwise
1. Shipowner
a. Over the vessel to the extent of its value, except
Bridges, tunnels,
that if chartered, the insurance is only up to the
piers, docks and other
amount not recoverable from the charterer.
aids to navigation
b. He also has an insurable interest on expected
and transportation
freightage.
c. No insurable interest if he will be compensated by
charterer for the value of the vessel, in case of loss. Property in
transit

Marine Bailee liability

Protection and
2. Cargo owner - Over the Indemnity Fixed
cargo and expected profits Insurance transportation
only perils of the sea
Insurable property
which may be
3. Charterer - Over the
insured against interest
amount he is liable to
unless perils of the Floater
the shipowner, if the
ship is covered by an
ship is lost or damaged
all-risk policy. All Risks Policy
during the voyage .

1. Owner/Debtor- Difference between Barratry Clause

In loans on SPECIAL MARINE
the value of vessel or goods and the
bottomry and INSURANCE
amount of loan. (Sec. 103)
respondentia CONTRACTS AND Inchamaree
2. Creditor/lender- Amount of the loan
CLAUSES Clause

1. National
Sue and Labor
character of the
Clause
insured

1.
2. Liability of the
thing insured to
MARINE Seaworthiness
of the ship at
capture or CONCEALED INSRUANCE the inception of
detention MATTERS the insurance
WHICH WILL
3. Liability to NOT VITIATE
2. Against
seizure from THE CONTRACT
improper
breach of foreign EXCEPT WHEN
deviation
laws; THEY CAUSED
THELOSS IMPLIED
WARRANTIES 3. Against
4. Want of
illegal venture
necessary
documents;
4. Warranty of neutrality: the ship
will carry the requisite documents of
5. Use of false or
nationality or neutrality of the ship
simulated papers.
or cargo where such nationality or
neutrality is expressly warranted
a. Actual -

Total 5. Presence of insurable interest

b. Constructive
(Technical) LOSS

Partial:

ABANDONMENT

PARTICULAR
Requisites for validity
1. Neither partial nor conditional; GENERAL RULE: The insured may either hold
2. actual relinquishment by the person the insurer directly liable for the whole of
insured of his interest in the thin the insured value of the property sacrificed
AVERAGE
insured ; for the general benefit, subrogating him to
3. Made by giving notice to the insurer, his
orally or in writing; own right of contribution or demand
4. Made within a reasonable time after contribution from the other interested
receipt of reliable information of the GENERAL parties as soon
loss; as the vessel arrives at her destination
5. Notice must be explicit and must
specify the particular cause of the
abandonment; EXCEPTIONS:
6. It must be factual; 1. After the separation of interests liable
7. There must be a constructive total to contribution
loss. 2. When the insured has neglected or
waived his right to contribution

Requisites:
1. The loss is partial;
CO-INSURANCE 2. The amount of insurance is
less than the value of the
property insured.