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If you love the water, turn your hobby into a career by starting a charter boat business. Spend your days on or near the water teaching novice sailors or providing the ultimate getaway for the lucky few. While the startup costs may be pretty significant, so will your prices. You should already have in mind a marina from where to start... more »
Boat insurance is essential to protect the owner from financial losses because of storms, fire, sinking of the boat or collision. Boat insurance is similar to car insurance but involves different features in terms of coverage. In recent times, there has been an increased risk of property damage to boats. It is always prudent to... more »
When you buy a boat, check out boat insurance. See if it's mandatory that you purchase it. Whether insurance is mandatory or not, it's best to get insurance for your big ticket investment. Protect your property and shop different insurance companies to get a quote on boat insurance at a good rate. Read on to learn more. more »
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Insurance companies offer many types of products that typically include automobile, homeowners and commercial products. Individuals with a boat must find insurance as well, but insurance for a boat may not be offered by their insurance carrier. Insurance companies that offer boat insurance have policies that can be customized to meet... more »
Find safe harbor with the ins and outs of boat insurance. Know how much your boat is worth...
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Marine Insurance covers the loss or damage of ships, cargo, terminals, and any transport or property by which cargo is transferred, acquired, or held between the points of origin and final destination.
Cargo insurance—discussed here—is a sub-branch of marine insurance, though Marine also includes Onshore and Offshore exposed property (container terminals, ports, oil platforms, pipelines); Hull; Marine Casualty; and Marine Liability.
Origins of Formal Marine Insurance
The modern origins of marine insurance law were in the law merchant, with the establishment in England in 1601 of a specialised chamber of assurance separate from the other Courts. Lord Mansfield, Lord Chief Justice in the mid-eighteenth century, began the merging of law merchant and common law principles. The establishment of Lloyds of London, competitor insurance companies, a developing infrastructure of specialists (such as shipbrokers, admiralty lawyers, and bankers), and the growth of the British Empire gave English law a prominence in this area which it largely maintains and forms the basis of almost all modern practice. The growth of the London insurance market led to the standardisation of policies and judicial precedent further developed marine insurance law. In 1906 the Marine Insurance Act was passed which codified the previous common law; it is both an extremely thorough and concise piece of work. Although the title of the Act refers to marine insurance, the general principles have been applied to all non-life insurance.
In the 19th. century, Lloyds and the Institute of London Underwriters (a grouping of London company insurers) developed between them standardised clauses for the use of marine insurance, and these have been maintained since. These are known as the Institute Clauses because the Institute covered the cost of their publication.
Within the overall guidance of the Marine Insurance Act and the Institute Clauses parties retain a considerable free read more at » http://en.wikipedia.org/wiki/Marine+insurance
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