Q.Write short notes on:

Both are branches of general insurance but cover very different risks — sea adventures and vehicles.

(i) Marine insurance. Marine insurance is a contract in which the insurer agrees to indemnify the insured against losses incidental to a marine adventure — losses to ships and cargo caused by the perils of the sea. It is the oldest form of insurance.

• Subject-matter — three interests: hull (the ship itself), cargo (the goods carried) and freight (the carriage charges the shipowner would lose if goods are not delivered).
• Perils of the sea: storms, collision, sinking, stranding, jettison (throwing cargo overboard to save the ship) and piracy.
• Nature: a contract of indemnity requiring insurable interest and utmost good faith; in cargo policies interest need exist only at the time of loss.
• Types of loss: total loss (actual or constructive) and partial loss — particular average (borne by one party) or general average (a sacrifice for common safety, shared by all interests).

(ii) Motor insurance. Motor insurance is insurance of motor vehicles against damage to the vehicle and against liability to third parties.

• Third-party (liability) insurance — covers the owner's legal liability for injury, death or property damage caused to others by the vehicle; this cover is compulsory by law for every vehicle used in a public place. …

Students often list only cargo and forget that hull and freight are also marine subject-matter. In motor insurance, remember that only **third …