A maritime market agreement in which insurers cover only goods against war risks while they are on the ship subject to a delay after their arrival at the destination port. Loading and transloading in the destination port are reduced. An agreement under which the insured agrees to declare any object (for example, shipping. B, ship, etc.) coverage, in the order in which the risk is associated. The insurer undertakes to accept, at the time of the conclusion of the contract, all valid returns up to the agreed limit for each return. Open coverage may be open for a specified period of time or always; are subject to a revocation clause. An agreement in a reinsurance contract in which the reinsurer follows the decisions of the original insurer. It is particularly important that ex gratia payments are made by the original insurer, which cannot be recovered by reinsurers in the absence of this agreement. A broker provision, whererly agreements (with those other than those that substantially alter the risk) will be accepted on the note of all insurers if they are signed only by the primary insurer. An agreement expressed by a deputy president on the real estate agent`s note.
An agreement under freight insurance, according to which insurers do not reduce the right to an overall average premium in the event of under-insurance. With regard to terrorism, there are also many definitions of the threat of war (declared or not), civil war, revolution, insurrection and rebellion. AON Brokers publishes an annually a map of political risks, which are illustrated by a pattern of colors, the states and the types of risks to which they are exposed. Below is a list of definitions of some common terms used in shipping and insurance. The pre-printed boxes provide room for the initials of insurers who subscribe to the agreement and help the broker ensure that all necessary agreements have been reached. It is used in all cases where an agreement requires the initials of six or more insurers. A certificate used to renew a directive. It refers to the original policy, all its provisions being maintained without limiting all insurance agreements, exclusions and conditions.
The deed of a signature ballot or a mock agreement to signify the insurer`s agreement. The term can also be used in combination with a clause that excludes “scratches, bruises and bumps.” A term on a note that requires that subsequent amendments be subject to the agreement of the Three Chiefs. An agreement between Lloyd`s sub-accountants and non-maritime insurance companies not to cover certain risks of war and civil war ashore. An agreement that gives a person the right to own exclusive ownership. We must now distinguish between land war and the risk of water war. With the exception of mail distribution (see The Institute War Clauses (Sendings by Post)) a land war is a risk that is not covered by the War Clauses (Cargo) institutes. Why is that so? This is because the land war was considered effective enough for the coverage to be separate and generally an optional reinsurance for the specific traffic in question.