Class 1 (Chief Engineer) Engineering Management 📅 Aug 2022

Exam Question

What are the perils of the sea which are covered in a Marine insurance contract?

What can an insured do to cover a peril other than an insured peril of the sea? Explain with examples. Also enumerate the perils which are covered under a marine insurance contract but the onus of proof is upon the insurers to prove the assured's want of "due diligence" to avoid the claim.

Reference Answer

### Introduction to Marine Perils
A marine insurance contract is designed to indemnify the assured against losses arising from maritime perils, which are fortuitous accidents or casualties of the seas. These perils are distinct from the ordinary action of wind and waves (the inevitable). The policy delineates specific insured perils, and coverage can be extended through additional clauses. A key aspect of claims is the burden of proof, which typically lies with the assured but can shift to the insurer under specific circumstances related to the assured's diligence.
### 1. Perils of the Sea Covered in a Marine Insurance Contract
These are the fundamental risks associated with a maritime venture that are typically covered under standard marine insurance policies (e.g., Institute Cargo Clauses 'B' or 'C'). They are fortuitous and not inevitable events.

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