Marine Insurance Business Legally Explained

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Marine insurance business legally explained
By
S J Tubrazy 
marine insurance business  means the business of effecting contracts of insurance upon vessels of any description, including cargoes, freights and other interests which may be legally insured, in or in relation to such vessels, cargoes and freights, goods, wares, merchandise and property of whatever description insured for any transit by land, water or air, or by any combination thereof and whether or not including whare house risks or similar risks in addition or as incidental to such transit, and includes any other risks customarily included among the risks insured against in marine insurance policies.

A marine insurance policy also covered carriage of goods by air and, therefore, the equitable  principles contain in section 135 A of Transfer of Property Act is also applicable to a case of marine insurance policy which covered the risk of carriage of goods by air. 

The carrier is liable for damage sustained in the event of the destruction or loss of, or of damage too, any registered luggage or any goods, if the occurrence which caused the damage so sustained took place during the carriage by air.

The carriage by air within the meaning of the preceding paragraph comprises the period during which the luggage or goods are in charge of the carrier, , whether in an aerodrome or on board an aircraft, or, in the case of a landing outside an aerodrome, in any place, whatsoever.

The period of the carriage by air does not extend to any carriage by land, by sea of by river performed outside an  aerodrome. If, however, such a carriage takes place in the performance of a contract for carriage ‘ by, air, for the purpose  of loading, delivery or transhipment,, any damage is presumed,  subject to proof to the contrary, to have been the result of an event, which took place during the carriage by air.

The period of the carriage by air does not extend to any carriage by land, by sea of by river performed outside an  aerodrome. If, however, such a carriage takes place in the performance of a contract for carriage ‘ by, air, for the purpose  of loading, delivery or transhipment,, any damage is presumed,  subject to proof to the contrary, to have been the result of an event, which took place during the carriage by air.

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