Institute and Faculty of Actuaries

Form of Policy for Marine Insurance in ParisSource: The Assurance Magazine, Vol. 2, No. 2 (1852), pp. 180-184Published by: Cambridge University Press on behalf of the Institute and Faculty of ActuariesStable URL: http://www.jstor.org/stable/41134438 .

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180

Form of Policy for Marine Insurance in Paris.

Union des Ports. Policy for Maritime Insurance in Paris.

NO. of 185 Broker, M Ship Sum insured, £ at per cent. £ Captain Policy and Stamp

Voyage Total £

Article 1. The Insurers take upon themselves the risks of all damages or losses arising from tempestuous weather, shipwreck, striking on rocks, accidental collision, forced concessions, forced changes of route of voyage of ship, throwing over cargo, fire, pil- lage, captures and molestations from pirates, barratry of the master, and generally from all accidents and perils incidental to navigation.

Art. 2. Risks of war are only undertaken by the Insurers when there is an express stipulation. In this case it is understood that they answer for all damages and losses arising from war, hostilities, reprisals, detentions, captures, and molestations of any government whatsoever, friends and enemies, known and unknown, and gene- rally from all accidents and perils of war.

Art. 3. The Insurers are exempt from all damages and losses arising from the nature of the cargo, from captures, confiscations, and other accidents arising from contraband, prohibited, or clan- destine commerce, from the barratry of a master who has a cha- racter for deceit or fraud, but only so far as regards the owners or their representatives when the master is chosen by them ; and lastly, from all costs of quarantine, wintering, and " jours de planche."

Art. 4. In insurances for time, the Insurers are exempt, except by special agreement, from the risks to Senegal, in all seasons, and from those of the Black Sea, the Baltic, and the Northern Seas beyond Dunkirk, from the 1st October to 1st April.

Art. 5. Risks upon cargo commence from the time of loading, and terminate upon its being discharged at the place of destination. The risks of transport, by tenders or lighters, to and from shore aboard, in the ports, roads, and rivers where cargo is taken or dis- charged, as well as all transhipments at Havre or Honfleur for Rouen, are undertaken by the Insurers.

In case of insurance at a premium out and home, or for time, the risks continue on the goods substituted for the first, and aris- ing from their sale or exchange, according to the amount insured,

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Form of Policy for Marine Insurance in Paris. 181

and, excepting as to proof of their value and of the risk having been undertaken, in cases of loss or average.

Art. 6. The risks upon the bodies of ships run from the time of beginning loading, or in other cases from the time of setting sail, and cease 5 days after her being at anchor or moored in the place of destination, unless the cargo has been discharged sooner, or cargo for another voyage has been taken on board before the expiration of these 5 days.

Art. 7. The risks of quarantine in the place of destination are undertaken by the Insurers. If the ship proceeds to perform qua- rantine elsewhere, an augmentation of premium is required of 1 per cent, on the body of the ship, and of f per cent, on the cargo, from the day of departure till her return.

Art. 8. In case of assurance at a premium out and home, for a voyage beyond Cape Horn and the Cape of Good Hope, the cap- tain is allowed 6 months' delay, counting from the day of his touching at the first port where he is to commence operations. In other voyages only 4 months are allowed. At the expiration of these periods, respectively, each month's further delay causes an augmentation of premium of f per cent, per month up to the end of the twelfth month. After this the Insurers are free from all risks, and may claim two-thirds of the premium out and home fixed by the policy, besides the augmentation of the premium arising from the delay.

Art. 9. In all cases in which the premium is calculated by monthly or other fixed periods, every period commenced reckons as completed.

Art. 10. If the insurance is made on ships, name unknown, the Insured is bound to give the name of the ship at the latest within six months for voyages beyond Cape Horn and the Cape of Good Hope; within four months for other long voyages; within two months for long coasting ; within one month for short coast- ing; in each case to commence from the date of the policy; in default of which the policy is wholly void, and the Insurers may claim one-half per cent, for cancelling the insurance for long voyages, and one-quarter per cent, for coasting.

Art. 11. If the insurance be effected on a ship leaving Europe, and the departure be delayed more than three months, dating from the risk being subscribed, the Insurers have the power to cancel the policy, retaining a quarter per cent, for annulling it.

Art. 12. The abandonment in absence of information may be made after a year for all voyages on this side of Cape Horn and the Cape of Good Hope ; and after two years for all voyages beyond

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182 Form of Policy for Marine Insurance in Paris,

those Capes ; in all cases to count from the day when the latest news was received. The abandonment of cargo can only be made in the cases provided for in the preceding paragraph, and by Art. 394 of the Code de Commerce ; and provided that, independent of all expenses whatever, the loss or deterioration shall be at least three-fourths of the value. No other case, not even that of sale in the course of the voyage, gives a right to abandonment of cargo.

The abandonment of the ship can only be made on account of the absence of information, of shipwreck, of stranding with damage sufficient to render her unseaworthy, or from unseaworthiness from any other peril of navigation.

Any conditions contrary to those expressed in the three preced- ing paragraphs will be in opposition to the Code de Commerce, and especially to Articles 369 and 375.

Art. 13. Whether there be ground for abandonment or not, and without any prejudice to his own rights, the Insured is bound to watch over the safety and preservation of the goods insured.

Art. 14. General averages are regulated independent of parti- cular averages, and are settled after reserving 1 per cent, of the insured value on long voyages, and 2 per cent, for long and short coasting. The portion of these averages attaching to freight can never be carried to the account of the assurance on the ship.

Art. 15. Particular average on the ship, and what appertains thereto, are paid after the deduction of 3 per cent, of the insured value.

Art. 16. In case of insurance at a premium out and home, or for time, every voyage forms a separate transaction. The end of each voyage is determined according to Articles 5 and 6, and the following voyage is considered to commence immediately.

Art. 17. In case of abandonment of the ship, the owner remains responsible for wages due to the seamen previous to the voyage in which the loss is incurred.

Art. 18. In the settlement of particular averages upon ships, allowance is only made for objects replacing those lost or damaged by perils of the sea, and all restitutions by the Insurers suffer a reduction in their proved cost price of one-third, instead of repara- tion. This reduction equally applies to all the repairs and refitting, except to the anchors. It is only 15 per cent, on chain cables.

The same reductions are applicable to the settlement of claims for general* average by the Insurers on the bodies of ships.

The provisioning and wages of the crew during the repairs of the ship are not chargeable to the Insurers.

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Form of Policy for Marine Insurance in Paris. 183

In the risks of fisheries, the Insurers are exempt from all loss and average on the embarkations, the fishing implements, anchors, chains, cables, &c, during the fishing and the anchorage. In like manner, in the different anchorages of the Ile de Bourbon, the loss either in particular or general average (so far as concerns the in- surance on the ship) of anchors, chains, cables, and their appur- tenances, is not chargeable to the Insurers.

Art. 19. The premiums of loans contracted for repairs and extraordinary expenses in the course of the "voyage, are only chargeable to the Insurers as far as the place of destination on this voyage ; all loans made at that place are unrecognized by them.

Art. 20. The following are free of particular average : - fruits, green and dried, cheese, wools greased, salt, feathers, liquids in bottles, glass, and other fragile articles, and articles subject to rust; nevertheless, in case of stranding or wreck, particular average is paid on these articles, deducting 15 per cent, on the insured value.

In case of particular average on other merchandise, the Insurers pay only the excess of

3 per cent, on Alum Cochineal Metals Soap Butter Tarred Cordage Mercury Silks Wood Raw Cotton Jewellery Sulphur Pitch and Tar Cloth, and other Lace Tallow Coffee in cask Woollen Stuffs Precious Stones Tea Cinnamon Coin Allspice in bags Linen and Cotton Cassia Lignea Madder Pepper in bags Cloths . Wax Indigo Bark Quicksilver Cloves Washed Wool Ribbands Verdigris

5 per cent on Lote Fruit Coal Cotton Thread Rice in casks Jewellery (imitation) Glue in casks or Curcuma Saddlery- Cocoa in casks boxes Meal in barrels Sugar in casks or Coffee in bags or Cordage (not tarred) Ginger in casks boxes

bales Horns Gum in casks Tobacco in casks

• 10 per cent on Almonds in casks Flour of Sulphur Gallnuts Salts of Soda Starch* Ginger in bags Paper & Stationery Soda Anise-seed Gum in bags or loose in boxes Sugar in bags or bales Cocoa in bags or bales Grain and Seeds in Skins and Furs Sumach Coffee (loose) barrels or bags Fish, dry or salt Tobacco in bags or Hemp and Flax Engravings and Pepper and Allspice bales Hair Lithography (loose) Colours Leather and Hides Cashmere Wool Potash, Pearlash Blue Stuffs called Oak Bark Liquids in casks Rice in bags Guinea Meal in bags Animal Black

15 per cent on Cocoa (loose) Vegetables (dried) Hay and Straw Paper and Stationery Grain and Seeds Nitrates Loaves in bales

(loose)

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184 Form of Policy for Marine Insurance in Paris.

On objects not described in the preceding table, the proportion which is free of average is fixed at 5 per cent· The amount of 10 per cent, free of average, as above mentioned, on liquids in casks, is indépendant of the proportion free of average for ordinary leakage, which is fixed at 2 per cent, for short coasting, at 4 per cent, for long coasting, and at 10 per cent· for long voyages.

Art. 21. The proportions above fixed are only reserved in the case of average to the merchandise itself. The particular averages confined to expenses, or arising out of a proportional contribution, are paid with a reserve of one per cent, on the sum insured, and that independent of the particular average to merchandise·

Art. 22. The sum subscribed by each Insurer is the limit of his engagements. He cannot be called upon for more.

Art. 23. The indemnities for losses, and gross and particular averages, are regulated by the laws and customs of France, in what- ever place the loss may occur, or the voyage terminate, or the settlement be made.

Art. 24. All losses and averages chargeable to the Insurers are paid in ready money, and without discount, 15 days after proof of the claim to the bearer of the proofs and the present policy, with- out need of a power of attorney.

Art. 25. In case of payment of losses or average before the bill for the payment of premium is due, the Insurers may deduct the amount of the bill, which must then be accepted as cash.

Art. 26. In case of nonpayment of the premium, legally proved, the Insurers may require security, or cancel the insurance.

Art. 27. It is agreed that the captain may be accepted or declined, or replaced by another ; and the manner in which his name is spelled does not vitiate the insurance.

Art. 28. The Insurers and the Insured, as far as each are con- cerned, engage themselves to conform to the laws and maritime regulations in force, in whatever is not provided for in the present policy.

Art. 29. The present insurance is made " sur bonnes ou mau- vaises nouvelles;" to be executed freely and in good faith, the parties renouncing the " lieue et demie par heure."

By the agency of M. Assurance Broker on the Paris Bourse, on the preceding general conditions, and the particular conditions which follow, and for the premium of payable in Paris, the undersigned insures to residing at acting on account of the sum of

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