Study these vocabulary notes. insurance Ø страхування a letter of insurance/ cover note Ø страхове

insurance	Ø	страхування
a letter of insurance/ cover note	Ø	страхове забезпечення вантажу, страховий сертифікат
broker	Ø	посередник
insurance policy	Ø	страховий поліс
value	Ø	вартість
shipment	Ø	вантаж
risk	Ø	ризик
insurance company	Ø	страхова компанія
“open cover”	Ø	генеральний поліс
insured person	Ø	застрахована особа
insurer	Ø	страховик
“all risks” policy	Ø	страхування від усіх ризиків
perils of the sea	Ø	небезпека в морі
loss	Ø	втрата
damage	Ø	пошкодження
stranding	Ø	сісти на міль
jettison	Ø	викидати вантаж за борт корабля
forcible	Ø	примусовий
pilferage	Ø	дрібна крадіжка
strike	Ø	страйк
riot	Ø	бунт
civil commotion	Ø	громадянська непокора
capture	Ø	захоплення
seizure	Ø	конфіскація
premium	Ø	страхові внески, страхова премія
vessel	Ø	судно, корабель
contribution to general average	Ø	внески на відшкодування часткових витрат

Insurance Documents

There are three basis types of insurance document.

1) A letter of insurance or cover note. This is issued by insurance broker to provide notice that steps are being taken to issue an insurance policy or certificate.

2) A certificate of insurance shows the value and details of the shipment, and the risks covered (in an abbreviatied form). It is signed by the exporter and the insurance company. Only a certificate of insurance is required when the insurance policy of the exporting provides “open cover” for the whole of its export trade.

When an exporter takes out open cover with Lloyd’s insurance company for the whole of its export trade, a certificate of insurance for each individual shipment will be prepared by the exporter on a certificate provided (and pre-signed) by the insurance company.

In the UK and many other countries, an insured person cannot take legal action against an insurer where the only evidence of a contract of insurance is a certificate of insurance. The legal proof of a contract is provided by the insurance policy itself.

An insurance policy. The insurance policy gives full details of the risks covered, and it is evidence of a contract of insurance. A policy which provides open cover will not specify the details of any particular shipment.

Insurance cover is often provided on the basis of “Institute cargo clauses” provided by the Institute of London Underwriters. These clauses list the risks covered and are referred to as A, B or C Institute Cargo Clauses.

The Institute’s policies and clauses were changed in 1982, and a widely used type of policy is an “all risks” policy. An “all risks” policy does not have an “all risks” clause, but instead a “clause A” which begins “This insurance covers all risks of loss or damage to the subject matter insured except as provided in clauses 4, 5, 6 and 7 below”

An “all risks” policy (or clause A) does not provide insurance against “all risks”, and the main risks it covers are:

1) perils of the sea – accidental loss or damage caused by sinking, collision, sea water, heavy weather or stranding;

2) jettison – loss caused by a decision of the master of the ship to throw goods overboard so as to lighten the vessel in an emergency;

3) fire including smoke damage;

4) thieves – the forcible theft of goods rather than pilferage by the crew;

5) damage in loading, transshipment or discharge;

The policy will not cover losses or damage from strikes, riots or civil commotions, and war or capture and seizure of the vessel (in war or by piracy). These risks must be insured separately by payment of an additional premium.

An all risks policy also provides cover against “contributions to general average”. This is an odd-sounding term, which requires some explanation.

“Average” in insurance means partial loss or damage, so that “general average” refers to partial loss or damage to the general cargo of the ship as a whole, caused by action of the ship master (in time of danger) to save the entire ship. The loss must then be shared amongst all the parties in proportion to their interests, whether or not their own goods are damaged. All cargo insurance policies cover the risk that the insured might have to make a contribution to the general average loss, provided that the cause of loss was a risk covered by the insured’s policy. For example, if some of the ship’s cargo is damaged by the water used to put out a fire, and insured person whose goods are unharmed is expected to contribute to the general average, then the policy will cover the insured person for this payment.

Дата добавления: 2015-09-07