The Practice of Marine Insurance:
Marine Insurance Policy Forms
1 The S.G. Form of Marine Insurance Policy
(As printed in the First Schedule of the Marine Insurance Act, 1906)
STANDARD S.G.POLICY
Be it known that (In the name of God, Amen, which was the words used in 1779 standard S.G. Policy)
as well in own Name, as for and in the Name and Names of all and every other Person or Persons to whom the same doth may, or shall appertain, in part or in all, doth make Assurance, and cause and them , and every of them, to be insured, lost or not lost , at and from
Upon any kinds of goods and Merchandise and also the Body, tackle. Apparel, Ordance, Munition, Artillery, Boat and other Furniture, of and in the good Ship or Vessel called the
whereof is Master under God, for this present Voyage,
or whosoever else shall go for Master in the said Ship, or by whatsoever other Name or Names the same Ship, or the Master thereof, is or shall be named or called; beginning the Adventure upon the said Goods and Merchandise from the loading thereof
aboard the said Ship,
upon the said Ship etc., and
shall so continue and endure during her Abode there, upon the said Ship, etc.; and further, until the said Ship. With all her Ordnance, Tackle, Apparel, etc, and Goods and Merchandises whatsoever, shall be arrived at
upon the said Ship, etc, until she hath moored at Anchor Twenty –four Hours in good Safety; and upon the Goods and Merchandises until the same be there discharged and safely landed; and it shall be lawful for the said Ship, etc., in this Voyage to proceed and sail to and touch and stay at any Ports or Places whatsoever
without Prejudice to the Insurance. The said Ship. Etc., Goods and Merchandises, etc., for so much as concerns the Assured by Agreement between the Assured and Assurers in this Policy, are and shall be valued at
Touching the Adventures and Perils which we the Assurers are contented to bear and do take upon us in this Voyage, they are, of the Seas, Men-of –War, Fire, Enemies, Pirates, Rovers. Thieves, Jettisions, Letters of Mart and Countermart, Surprisals, Takings at Sea, Arrrest, Restraints and Detainments of all Kings, Princes and People, of what Nation, Condition or Quality soever, Barratry of the Master and Mariners, and of all other Perils, Losses and Misfortunes that have or shall come to the Hurt, Detriment or Damage of the said Goods and Merchandise and Ship, etc., or any Part thereof; and in case of any Loss or Misfortune. It shall be lawful to the Assured, their Factors. Servants, and Assigns, to sue , labour, and travel for, in and about the Defence, Safeguard and Recovery of the said Goods and Merchandises and Ship, etc., or any Part thereof. Without Prejudice to this Insurance; to the Charges whereof we, the Assurers, will contribute, each one according to the Rate and Quantity of his Sum herein assured. And it is especially declared and agreed that no acts of the Insurer or Insured in recovering saving, or preserving the property insured, shall be considered as a waiver or acceptance of abandonment. And it is agreed by us, the Insurers, that this Writing or Policy of Assurance heretofore made in Lombard Street, or in the Royal Exchange, or elsewhere in London.[page]
And so we, the Assurers, are contented, and do hereby promise and bind ourselves each one for his own Part, our Heirs, Executors, and Goods, to the Assured, their Excutors, Administrators, and Assigns, for the true Performance of the Premises, confessing ourselves paid the Consideration due unto us for this Assurance by the Assured, at and after the Rate of
IN WITNESS whereof we, the Assurers, have subscribed our Names and Sums assured in LONDON.
N.B.-Corn, Fish, Salt, Fruit, Flour and Seed are warranted free from Average, unless general, or the Ship be stranded –Sugar, Tobacco, Hemp, Flax, Hides, and Skins are warranted free from Average under Five Pounds per cent; and all other Goods, also the Ship and Freight, are warranted free from Average under Three Pounds per cent, unless general, or the Ship be stranded.
2 Lloyd’s Marine Policy
We, The Underwriters, hereby agree, in consideration of the payment to us by or on behalf of the Assured of the premium specified in the Schedule, to insure against loss damage liability or expense in the proportions and manner hereinafter provided Each Underwriting Member of a Syndicate whose definitive number and proportion is set out in the following Table shall be liable only for his own share of his respective syndicate’s proportion.
In Witness whereof the General Manager of Lloyd’s Policy Singing Office has subscribed his Name on behalf of each of Us.
LLOYS’S POLICY SIGNING OFFICE
General Manager
This insurance is subject to English jurisdiction.
FORMMAR LPO 62A(1/1/82)Pnned by The Carnon Beny Co.Led.
SHEDULE
Policy Number
Vessel
Voyage or period of insurance
Subject-matter insured
Agreed value(if any)
Amount insured hereunder
Premium
Clauses, endorsements, special conditions and warranties
The attached clauses and endorsements form part of this policy.[page]
Definitive numbers of the Syndicates and proportions
The list of Underwriting Member of Lloyd’s mentioned in the above Table shows their respective Syndicates and Shares therein and is deemed to be incorporated in and to form part of this Policy: It is available for inspection at Lloyd’s Policy Signing Office by the Assured or his or their representatives and a true copy of the material parts of it certified by the General Manager of Lloyd’s Policy Signing Office will be furnished to the Assured on application.
No. Hull
3 THE INSTITUTE OF LONDON UNDERWRITERS
COMPANIES COMBINED POLICY
￡
Be it known that
as well in their own Name, as for and in the Name and Names of all and every other Person or Persons to whom the same doth may, or shall appertain, in part or in all, doth make Assurance, and cause themselves and them , and every of them, to be assured, lost or not lost , at and from Upon the Body, Tackle. Apparel, Ordnance, Munition, Artillery, Boat and other Furniture, of and in the good Ship or Vessel called the
whereof is Master under God, for this present Voyage,
or whosoever else shall go for Master in the said Ship, or by whatsoever other Name or Names the same Ship, or the Master thereof, is or shall be named or called; beginning the Adventure upon the said Ship,etc., as above, and shall so continue and endure during her Abode there, and further, until the said Ship. With all her Ordnance, Tackle, Apparel, etc, shall be arrived at as above, until she hath moored at Anchor in good Safety; and it shall be lawful for the said Ship, etc., in this Voyage to proceed and sail to and touch and stay at any Ports or Places whatsoever
without Prejudice to the Insurance. The said Ship. Etc., for so much as concerns the Assured by Agreement between the Assured and Assurers in this Policy, are and shall be valued at
Touching the Adventures and Perils which the Assurers are contented to bear and do take upon themselves in this Voyage, they are, of the Seas, Men-of –War, Fire, Enemies, Pirates, Rovers. Thieves, Jettisions, Letters of Mart and Countermart, Surprisals, Takings at Sea, Arrrest, Restraints and Detainments of all Kings, Princes and People, of what Nation, Condition or Quality soever, Barratry of the Master and Mariners, and of all other Perils, Losses and Misfortunes that have or shall come to the Hurt, Detriment or Damage of the said Goods and Merchandise and Ship, etc., or any Part thereof; and in case of any Loss or Misfortune. It shall be lawful to the Assured, their Factors. Servants, and Assigns, to sue, labour, and travel for, in and about the Defence, Safeguard and Recovery of the said Goods and Merchandises and Ship, etc., or any Part thereof. Without Prejudice to this Insurance; to the Charges whereof we, the Assurers, will contribute, each one according to the Rate and Quantity of his Sum herein assured. And it is especially declared and agreed that no acts of the Insurer or Insured in recovering saving, or preserving the property insured, shall be considered as a waiver or acceptance of abandonment. And it is agreed by us, the Insurers, that this Writing or Policy of Assurance heretofore made in Lombard Street, or in the Royal Exchange, or elsewhere in London.[page]
Warranted free of capture, seizure, seizure, arrest, restrainment or detainment, and the consequences thereof or of any attempt thereat; also from the consequences of hostilities or warlike operations, whether there be a declaration of war or not; but this warranty shall not exclude collision, contact with any fixed or floating object (other than a mine or torpedo), stranding, heavy weather or fire unless caused directly (and independently of the nature of the voyage or service which the vessel concerned or, in the case of a collision , any other vessel involved therein, is performing )by a hostile act by or against a belligerent power; and for the purpose of this warranty “power” includes any authority maintaining naval, military or air forces in conjunction with a power.
Further warranted free from the consequences of civil war, revolution, rebellion, insurrection, or civil strife arising therefrom, or piracy..
Now This Policy Witnesseth that we, the Assurers, the Companies whose names are set out overleaf, take upon ourselves the burden of this Assurance each of us to the extent of the amount underwritten by us respectively, and promise and bind ourselves, each Company for itself only and not the one for the other and in respect only of the due proportion of each Company, to the Assured, their Exectors, Administrators and Assigns for the true performance and fulfilment of the contract contained in this Policy in consideration of the person or persons effecting this Policy promising to pay a premium at and after the rate of
IN WITNESS whereof we, the Assurers, have subscribed our Names and Sums assured in LONDON.
As hereinafter appears, and the Manager and Secretary of the Institute of London Underwriters has subscribed his name on behalf of each of us.
N.B. –The Ship and Freight are warranted free from Average under Three Pounds per cent, unless general, or the Ship be stranded, sunk or burnt.
Signed…
[page]
Manager and Secretary,
The Institute of London Underwriters.
Note-as from the first day of March , 1948, this Policy must bear the Seal of the Institute of London Underwriters Policy Department.
It will be observed that in this form the S.G. Form words “until she hath moored for twenty-fort hours in good safety” are not included, the reference to twenty-four hours being omitted.
4 The Institute of London Underwriters
Companies Marine Policy
WE, THE COMPANIES, hereby agree, in consideration of the payment to us by or on behalf of the Assured of the premium specified in the Schedule, to insure against loss damage liability or expense in the proportions and manner hereinafter provided Each Company shall be liable only for his own respective proportion.
In Witness whereof the General Manager and Secretary of The Institute of London Underwriters has subscribed his Name on behalf of each Company.
General Manager and Secretary
The Institute of London Underwriters
This Policy is not valid unless it bears the embossment of the Policy Department of The Institute of London Underwriters.
This insurance is subject to English jurisdiction.
SHEDULE
Policy Number
Vessel
Voyage or period of insurance
Subject-matter insured
Agreed value(if any)
Amount insured hereunder
Premium
Clauses, endorsements, special conditions and warranties
The attached clauses and endorsements form part of this policy.
